Last year alone, weather- and water-related risks caused total damage of $35.6 billion, affecting approximately 50 million people. The report was presented at the COP27 UN climate change discussions in Sharm El Sheikh, Egypt. It was created in collaboration with the UN Economic and Social Commission for Asia and the Pacific (ESCAP).
It demonstrates how economic losses are increasing for most sorts of disasters when compared to the average over the last 20 years. In comparison to the average from 2001 to 2020, economic losses due to floods, landslides, and drought have all increased.
Future water stress was portrayed in the paper as a frightening possibility. The Himalayas and Tibetan Plateau in high mountainous Asia, which occupy an area of almost 100,000 square kilometres, hold the most ice outside of the polar regions.
The rate of glacial retreat is quickening, and last year’s unusually warm and dry weather caused significant mass losses on several glaciers. Future generations will be significantly impacted by glacial retreat since these so-called “water towers of the globe” are essential for freshwater supplies in the region of the world with the greatest population density.
In Asia, there were more than 100 natural hazard incidents, 80% of which were storm and flood incidents. These led to about 4,000 fatalities, with water being to blame for the majority of them. Overall, these dangers directly impacted 48.3 million individuals, resulting in $35.6 billion in economic losses.