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Economic losses from extreme weather rocket in Asia
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15th November 2022

Economic losses from extreme weather rocket in Asia

Economic losses from drought, floods and landslides have rocketed in Asia. In 2021 alone, weather and water-related hazards caused total damage of US$ 35.6 billion, affecting nearly 50 million people, according to a new report from the World Meteorological Organization (WMO).

The State of the Climate in Asia 2021 report highlighted how climate change impacts are wreaking an ever-increasing human, financial and environmental toll, worsening food insecurity and poverty and holding back sustainable development.

The report also painted a worrying scenario for future water stress. High Mountain Asia, including the Himalayas and the Tibetan Plateau, contains the largest volume of ice outside of the polar region, with approximately an area of 100,000 km2 of glacier coverage. The rate of glacier retreat is accelerating and many glaciers suffered from intense mass losses as the result of exceptionally warm and dry conditions in 2021. These so-called water towers of the world are vital for freshwater supplies for the most densely populated part of the planet and so glacier retreat has major implications for future generations.


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