India lost a whopping $79.5 billion to climate-linked catastrophes in the last twenty years.
According to a report revealed by United Nations (UN), India lost a whopping $79.5 billion to climate-linked catastrophes in the last twenty years.
In the list released by UN, the United States of America recorded the biggest financial loss at $944.8 billion. The second place goes to China with $492.2 billion monetary loss. And the Japan recorded the third biggest monetary loss at $376.3 billion.
The report titled ‘Economic Losses, Poverty and Disasters 1998-2017’ said, such losses are only part of the story, since the majority of disaster reports to EM-DAT (63%) contains no economic data.
It also said that the World Bank has calculated that the real cost to the global Economy is a staggering US$ 520 billion per annum, with disasters pushing 26 million people into poverty every year.
The report further said that “absolute losses also mask the relatively greater burden of disasters on the poor. When economic costs are expressed as an average percentage of Gross Domestic Product (GDP), this becomes clearer.”
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