 @ European Commission ECHO, CC BY-SA 2.0 |
Approximately 9.5 million people are affected annually by these storms. This number is likely to increase in the coming years.
The region, which is already home to a quarter of the world's population, is expected to receive 250 million more people by 2030. Many local and international companies, usually located in coastal cities or near major rivers, are under the threat of floods.
The lack of a program designed to improve infrastructure’s resilience to climate change is expected to increase losses. In 2016, Munich Re estimated the cost of economic damage from natural catastrophes in the region at 87 billion USD. Insured losses account for only 11.5% of this amount, that is, 10 billion USD.
* The World Resources Institute is an American think tank specialized in environmental issues. Based in Washington D.C., it was founded in 1982.