ORIGIN: https://www.yourweather.co.uk/news/
WWF has urged policymakers at COP30 to put climate and nature action at the heart of financial resilience strategies, or pay the price of bailouts.
The German government paid €30 billion funding for reconstruction following the floods in 2021Climate change and nature loss are driving up economic losses from extreme weather and increasing the share of damages left uninsured, conservation organisation WWF has warned.
The resulting financial exposure threatens not only households and businesses but also public finance budgets and a stable economy, it said.
Global disaster costs now reach $2.3 trillion a year, including indirect and ecosystem losses, according to the UN Office for Disaster Risk Reduction.
In the past year alone, the US spent close to $1 trillion on climate-related costs, while the EU lost €43 billion from heatwaves, droughts, and floods.
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Across major economies, insurance markets are struggling to absorb these growing risks, WWF said. For example, in the US, insurance premiums for homeowners have risen 38% since 2019, with coverage becoming unprofitable in
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