Over the past 31 years, global economic losses from extreme events reached a staggering $3.8 trillion, averaging $123 billion annually. The frequency of disasters has surged, with 2023 concluding the warmest decade on record, marked by severe weather events exacerbated by conflicts and the COVID-19 pandemic. The Food and Agriculture Organization’s report reveals a fourfold increase in disaster events since the 1970s, impacting agriculture significantly. Agricultural losses, averaging 23% of total disaster impacts, are rising steadily. The study underscores the vulnerability of the agriculture sector, with Asia bearing 45% of total losses and low-income countries experiencing disproportionately higher losses relative to agricultural value added.
Climate Crisis: Escalating Economic and Agricultural Losses from Extreme Events
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2023/10/31212245/floodwater-860x484.jpg)