In 2021 (as of October 8), there have been 18 weather/climate disaster events with losses exceeding $1 billion each to affect the United States. These events included 1 drought event, 2 flooding events, 9 severe storm events, 4 tropical cyclone events, 1 wildfire event, and 1 winter storm event. Overall, these events resulted in the deaths of 538 people and had significant economic effects on the areas impacted. The 1980–2020 annual average is 7.1 events (CPI-adjusted); the annual average for the most recent 5 years (2016–2020) is 16.2 events (CPI-adjusted).
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The June contiguous U.S. temperature was 72.6°F, 4.2°F above the 20th-century average, ranking warmest in the 127-year record and surpassing the previous record for June set in 2016 by 0.9°F. The year-to-date average temperature for the contiguous U.S. was 49.3°F, 1.7°F above the 20th-century average, ranking in the warmest third of the January-June record.
Climate change is leading to systemic and existential impacts, and evidence is mounting that these can result in the displacement of human populations. There is a rapidly growing demand for comprehensive risk assessments that include displacement and its associated costs to inform humanitarian response and national planning and coordination. However, owing to complex causation, missing and incomplete data, and the political nature of the issue, the longer-term economic impacts of disaster- and climate-related displacement remain largely hidden.
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. The intensifying impacts of climate change present physical risk to assets, publicly traded securities, private investments, and companies — such as increased extreme weather risk leading to supply chain disruptions. In addition, the global shift away from carbon-intensive energy sources and industrial processes presents transition risk to many companies, communities, and workers. At the same time, this global shift presents generational opportunities to enhance U.S. competitiveness and economic growth, while also creating well-paying job opportunities for workers.
Costing out the effects of climate change.
Water is the lifeblood of humanity. With it, communities thrive. But, when the supply and demand of fresh water are misaligned, the delicate environmental, social, and financial ecosystems on which we all rely are at risk.
Use the interactive mapping tool below to better visualize the frequency and cost of billion-dollar weather and climate events.
A new report from Morgan Stanley analysts finds that the cost of halting climate change by 2050 will require trillions of dollars of investment in five key ares of zero-carbon technology.
A 2018 report released by the Global Commission on the Economy and Climate suggests that the world could reap $26 trillion and gain 65 million new jobs by 2030 if governments were to carry out recommended actions within two to three years.
Carbon Shock: A Tale of Risk and Calculus on the Front Lines of the Disrupted Global Economy: How Carbon Is Changing the Cost of Everything (2011)
In Carbon Shock, veteran journalist Mark Schapiro takes readers on a journey into a world where the same chaotic forces reshaping our natural world are also transforming the economy, playing havoc with corporate calculations, shifting economic and political power, and upending our understanding of the real risks, costs, and possibilities of what lies ahead. Carbon Shock evokes a world in which the parameters of our understanding are shifting – on a scale even more monumental than how the digital revolution transformed financial decision-making – toward a slow but steady acknowledgement of the costs and consequences of climate change. It also offers a critical new perspective as global leaders gear up for the next round of climate talks in 2015.