Summary
Natural disasters across the globe are happening more often and with greater intensity. Pakistan and India recently experienced severe flooding, raising concerns about the financial impact and who will bear the costs.
Key Facts
- Global natural disasters are increasing in frequency and severity.
- The United Nations reports that most children born today could face major flooding in their lives.
- The current financial impact of climate emergencies is over $200 billion annually.
- This cost might increase to $2.3 trillion when indirect effects are considered.
- Pakistan and India are experiencing major flooding, some of the worst in recent decades.
- The question of who will pay for damages from such disasters is critical in regions like Pakistan and India.
