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Revealed: the staggering cost of extreme weather and the countries hit hardest

The devastating financial toll of a warming world, revealed
The true cost of climate change is likely much higher
2014 – what happened?
2014 extreme weather cost: $118.7 billion (£93.1bn)
2015 – what happened?
2015 extreme weather cost: $109.8 billion (£86.5bn)
2016 – what happened?
2016 extreme weather cost: $147.4 billion (£116.4bn)
2017 – what happened?
2017 extreme weather cost: $395.9 billion (£283.6bn)
2018 – what happened?
2018 extreme weather cost: $154.1 billion (£121.4)
2019 – what happened?
2019 extreme weather cost: $122.4 billion (£96.6bn)
2020 – what happened?
2020 extreme weather cost: $195.6 billion (£154.5bn)
2021 – what happened?
2021 extreme weather cost: $279.4 billion (£221bn)
2022 – what happened?
2022 extreme weather cost: $263.5 billion (£208.1bn)
2023 – what happened?
2023 extreme weather cost: $187.9 billion (£148.7bn)
10. Brazil, 2014 to 2023 extreme weather cost: $24.8 billion (£19.6bn)
9. France, 2014 to 2023 extreme weather cost: $29.4 billion (£23.3bn)
8. Australia, 2014 to 2023 extreme weather cost: $33.7 billion (£26.3bn)
7. Italy, 2014 to 2023 extreme weather cost: $35 billion (£27.6bn)
6. Germany, 2014 to 2023 extreme weather cost: $65.4 billion (£51.7bn)
5. Puerto Rico, 2014 to 2023 extreme weather cost: $87.3 billion (£65.3bn)
4. Japan, 2014 to 2023 extreme weather cost: $90.8 billion (£71.7bn)
3. India, 2014 to 2023 extreme weather cost: $112.2 billion (£88.6bn)
2. China, 2014 to 2023 extreme weather cost: $267.9 billion (£211.4bn)
1. USA, 2014 to 2023 extreme weather cost: $934.7 billion (£737.7bn)
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Photo by Apu Gomes/Getty Images

The devastating financial toll of a warming world, revealed

The climate emergency is not just an environmental catastrophe; it's become a full-blown economic disaster too. A bombshell report commissioned by the International Chamber of Commerce (ICC) has laid bare the staggering monetary hit over the past decade of nearly 4,000 extreme weather events.

With wildfires devastating Los Angeles and estimates suggesting they could result in losses of at least $135 billion (£111bn), read on to discover the shocking costs for each year of the past decade and find out which 10 countries have been hit with the biggest bills.

All dollar amounts in US dollars.

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Daniel Coughlin

14 January 2025

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