Climate Change and Financial Crises Cost World $2 Trillion in a Decade

A report reveals that extreme weather events have cost the world $2 trillion over the past decade, with $451 billion in damages occurring in the last two years alone. The findings highlight the immediate economic impact of climate change, as world leaders at the Cop29 climate summit debate financial responsibilities for climate adaptation and mitigation. The US, China, and India experienced the highest economic losses, while small islands faced significant per capita impacts. The report emphasizes the need for urgent financial support to help vulnerable countries adapt to climate challenges.