Economics

The global costs of extreme weather that are attributable to climate change

R. Newman and I. Noy

This groundbreaking research by Rebecca Newman and Ilan Noy reveals the staggering annual economic costs of extreme weather events linked to climate change, totaling US$143 billion. Discover how human loss of life accounts for 63% of these costs and why existing models may underestimate the true impact of climate change.

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Playback language: English

Index

Abstract

This paper investigates the global economic costs of extreme weather events attributable to climate change. Using data from Extreme Event Attribution (EEA) studies and socio-economic cost data, the authors estimate that US$143 billion annually of extreme weather costs are attributable to climate change, with 63% stemming from human loss of life. The study suggests that Integrated Assessment Models may significantly underestimate the economic costs of climate change.

Publisher

Nature Communications

Published On

Sep 29, 2023

Authors

Rebecca Newman, Ilan Noy

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