Socio-economic costs

Over the past 20 years, extreme weather events globally, like hurricanes, floods and heat waves, have cost an estimated $2.8 trillion, according to a new study. The study authors estimate the cost of the extreme weather damages from 2000 to 2019 to average around $143 billion, which breaks down to around $16.3 million per hour. The researchers analyzed studies that used a methodology known as Extreme Event Attribution (EEA), which connects human-related greenhouse gas emissions and changes in extreme weather events. They compared these analyses to socio-economic costs from extreme weather events to determine how much of the socio-economic costs of extreme weather events are linked to climate change.