Home / Politics / Natural disasters cost India $ 80 billion in 20 years: UN report | India News

Natural disasters cost India $ 80 billion in 20 years: UN report | India News

NEW DELHI: Climate change is making development highly risky, particularly in lower-middle income countries like India. A study released by the UN office for Disaster Risk Reduction (UNISDR) on Wednesday said India suffered economic losses of $ 80 billion during the 20-year period from 1998 to 2017.

India has been ranked among the world's top five countries in absolute economic losses. Globally, estimated losses during this period at $ 3 trillion. These losses have been increased by more than 120% in the last 20 years compared to the previous two decades (1978-1997). And if we just account for climate related disaster losses, they have gone up by more than 151%.

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Mami Mizutori, head of UNISDR, said: "The report makes it clear that economic losses are more likely than not. She emphasized the importance of mitigation, saving lives and livelihoods.

"In the period 1998-2017, disaster-hit countries reported direct economic losses of $ 2.908 billion of which climate-related disasters accounted for $ 2.245 billion or 77% of the total. The period 1978-1997 of $ 1.313 billion of which climate-related disasters accounted for $ 895 billion or 68%, "the UNISDR said.

"It is also clear that the economic and social consequences of poverty eradication and poverty eradication of poverty, "the UNISDR said. The study was conducted by UNIDR and the Center for Research on the Epidemiology of Disasters (CRED) and released before October 13, the International Day for Disaster Reduction.

In the last 20 years, climate-related disasters killed 1.3 million people and left 4.4 billion injured and homeless. India is a worst sufferer of disaster-related deaths and economic losses. Thousands of human lives are lost and destroyed every year, but are not reported for 87% of disasters in low income countries. "While the majority of fatalities were mostly earthquakes and tsunamis, 91% of all disasters were caused by floods storms, droughts, heat waves and other extreme weather events," the report said.

Storms, floods and earthquakes are not just common to India. In fact, three countries have suffered the most disasters – France ($ 48 billion), Germany ($ 58 billion) and Italy ($ 57 billion).

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