As cost of climate change rises, UN urges compensation [Washington Post]

2022-09-12T12:30:01+08:0009 Sep 2022|Tags: , , , , , , , , , |

From drought to floods and sea level rise, the cost of damage caused by climate change will only get higher as the world warms, sparking concerns from both top officials and activists about how to pay for it. “Loss and damage from the climate crisis is not a future event. It is happening now, all around us,” said United Nations Secretary-General Antonio Guterres on a visit to Pakistan, which recently suffered from devastating floods that displaced hundreds of thousands of people and left over a thousand dead.

Storms, floods to cost PHL $124 billion by 2050

2022-09-01T15:19:11+08:0031 Aug 2022|Tags: , , , , , , , , , |

STRONG STORMS, heavy flooding and prolonged droughts may result in around $124 billion in losses to the Philippine economy between 2022 and 2050, according to research firm GHD. This translates to an average annual gross domestic product (GDP) loss of 0.7% for the Philippines, GHD said in a statement following the release of its report “Aquanomics: The economics of water risk and future resilience.”