natural disasters

La Palma's volcano (Canary Islands)erupted last year during almost three months

Natural Disaster Claims In 2021 Exceed Those Of The Previous Two Years, Destroying Assets Worth $280 Bn

Alphavalue | German reinsurer MUNICH RE has published the economic cost of natural disasters in 2021. According to its preliminary findings, worldwide, natural disasters caused substantially higher losses in 2021 than in the previous two years. Storms, floods, wildfires and earthquakes destroyed assets worth $280 bn in 2021. Losses in the previous year amounted to $210 bn$. Approximately $120 bn$ in losses were insured in 2021, which was also more…

germany floods

Extreme Weather Events In Europe Caused An Estimated Economic Cost Of 446 € Bn (3% Of GDP In 2019)

This week, awareness of climate change and its consequences hits harder than ever before thanks to COP26. While European countries have arguably started to take climate considerations into account in their budgets, there is still a long way to go. Here is an interesting analysis by the rating agency Scope on the costs and consequences of climate change for countries, their economies and their sovereign ratings, including Spain.