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Hurricane Fiona is among 10 most expensive climate disasters worldwide: report

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A new report released by UK-based charity Christian Aid lists Hurricane Fiona as one of the top 10 most expensive climate disasters of the year.

according to the study Hurricane Fiona, announced Monday, bulldozed across the Canadian Atlantic in September as a post-tropical storm, killing more than 25 people, displacing 13,000 people and causing nearly $4 billion in damage.

Based on insurance industry estimates, the report lists the 10 most damaging climate disasters in 2022. Hurricane Ian in the United States and Cuba tops the list, while floods in KwaZulu-Natal and the Eastern Cape in South Africa take first place with Fiona. under.

Patrick Watt, CEO of Christina Aid, said, “If rich countries like Canada take action towards mitigation, they will have less carbon footprint… Loss and damage claims will be under control.” You will know that you are,” he said.

Concern that climate change events will be out of insurance coverage

Watt says the costs of extreme weather events will add up if rich countries do not support adaptation efforts in poorer countries.

“The danger is that if climate change goes out of control, the loss and damage from extreme weather events will become completely unmanageable and uninsurable for much of the world,” he said.

Craig Stewart, deputy director for climate change and federal affairs at the Canadian Insurance Agency, says more needs to be done about adaptation efforts to mitigate the effects of extreme weather events.

Residents drive through a flooded neighborhood in Northport, Fla., after Hurricane Ian flooded the river on October 4, 2022. According to Christian Aid’s report, storm damage is estimated at his 135 billion Cdn. (Chris O’Meara/Associated Press)

He predicts more unprecedented events like Hurricane Fiona.

“The insurance industry in Canada and abroad has been very adamant that climate change is not a future threat. Events are happening now and we are not ready for them,” Stewart said. Stated.

“Obviously, focusing on emissions reductions and reducing future threats is very important, but that is no excuse for ignoring the threats we are already experiencing today.”

some damages could not be quantified

According to Watt, the report also highlighted a second series of climate disasters whose costs could not be financially quantified due to lack of data.

He refers to the drought currently occurring in East Africa, which has no guaranteed costs but is estimated to leave 36 million people hungry in Somalia, Kenya and Ethiopia.

“The poorest countries that contribute the least to the climate crisis are often the ones most affected in terms of human lives,” Watt said.

“We have a shared interest and a shared responsibility to address and control carbon emissions. It is the right thing to do, but also the wise thing to do.”

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