The World Bank (WB) has issued a warning to major cities around the world that it is underprepared for major risks from extreme weather and other hazards, which will only intensify due to population growth and surging migration.
By Y 2050, 1.3-B people and $AU217-T in assets in Australia alone will be affected by worsening river and coastal flooding.
The report says many if not most government officials have no idea of the range of disaster risks they face and how serious they can and will be.
A combination of sea-level rise and sinking of coastal cities, including from excessive extraction of the groundwater, could drive disaster losses in 136 of Australia’s coastal cities from $6-B a year ($A8.1-B) in Y 2010 to $US1-T a year by Y 2070.
Weather caused 90% of global disasters according to a recent report entitled, “The Human Cost of Weather Related Disasters 1995 to 2015.
The report was issued in Y 2015 by The Centre for Research on the Epidemiology of Disasters (CRED) and The United Nations Office for Disaster Risk Reduction. The report utilized one of the world’s most comprehensive databases called the Emergency Events Database (EM-DAT), which archives information on natural disasters over the period from Y 1900 to now.
The report is a sobering reminder of how important weather is to the global economy, national security, public health, and infrastructure.
Take heed, we are all vulnerable.
Latest posts by Paul Ebeling (see all)
- Target (NYSE:TGT) at Record Highs on Sales Beat, Raised Forecast - November 20, 2019
- FOMC Mins: Divided Policy Makers Felt 3 Rate Cuts this Year ‘Should’ be Enough - November 20, 2019
- The Coldest and Richest Towns in the USA - November 20, 2019