Changing climates: the heat is (still) on

The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise. The study analysis finds the Philippines to be most exposed to rising losses as hazards intensify, followed by the US. China and India, key economies for global growth,
are among the least prepared. Actions needed: adaptation, insurance and mitigation. The economic dividends of adapation can outweigh asscoiated costs by up to 11 times. Private-sector capital should be part of the financing solution.