Climate change leads to ever greater damage according to study
Published: Wednesday, Feb 28th 2024, 14:30
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Climate change is causing more and more extreme weather events. According to a study, Asian countries and the USA are particularly affected. But the costs are also high in Switzerland.
The main cause of high weather-related losses are tropical cyclones, particularly in the USA and in East and Southeast Asia. This is the conclusion of an analysis of 36 countries published by Swiss Re on Wednesday.
With annual economic losses currently amounting to 3% of gross domestic product (GDP), the Philippines are the country most affected by weather hazards, according to the study. Moreover, the dangers there are likely to intensify.
The USA follows in second place with losses of 0.4 percent of GDP. In absolute terms, the amount of damage is actually highest there at 97 billion US dollars. At the same time, there is a medium-high probability that weather hazards will increase.
Switzerland in 9th place
At 0.2%, Switzerland is in 9th place among the countries surveyed. Only Austria ranks higher among the European countries in 4th place (0.3% of GDP).
Severe thunderstorms, winter storms and floods are the main causes of high costs in Switzerland. In contrast to many developing countries, however, Switzerland has a high level of cover and therefore strong insurance protection.
According to the study, it becomes problematic for countries if adaptation and mitigation measures are not taken. Such measures include enforcing building regulations or improving flood protection. At the same time, it is important to keep an eye on the settlement of areas that are susceptible to natural hazards.
The Swiss Re Institute's report "Changing Climates: The heat is (still) on" is based on the findings of the Intergovernmental Panel on Climate Change (IPCC) and its own assessments.
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