The deadly Hurricane Ida that struck the U.S. was the most expensive, costing the economy $65 billion, report finds.
Each of the 10 most destructive weather events caused over $1.5 billion damage, with Ida costing $65 billion, according to the study by U.K. charity Christian Aid.
"Most of these estimates are based only on insured losses, meaning the true financial costs are likely to be even higher,"has warned that 2021 is set to be the sixth time global natural catastrophes have cost more than $100 billion — with all six occurring since 2011.The report notes that financial costs are usually higher in richer countries because they have higher property values and can afford insurance.
"Be it storms and floods in some of the world's richest countries or droughts and heatwaves in some of the poorest, the climate crisis hit hard in 2021."
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