Bangladesh Faces $300 Million Annual Loss from Climate Disasters

A report by Germanwatch reveals Bangladesh suffers nearly $300 million yearly in losses from climate disasters, affecting over 6.3 million people. The report highlights significant improvements in cyclone mortality due to risk reduction measures while emphasizing the increasing frequency and severity of extreme weather events globally.

Bangladesh suffers significant economic losses due to extreme climate events, amounting to nearly $300 million annually, affecting over 6.3 million individuals as highlighted in the ‘Climate Risk Index 2025’ report by Germanwatch. In 2022 alone, the country faced a loss exceeding $299 million due to natural disasters, including floods, storms, and heatwaves.

The report emphasizes that Bangladesh has significantly reduced cyclone-related deaths through effective prevention strategies, with fatalities decreasing dramatically from 500,000 in 1970 to 4,234 in 2007. A notable heatwave from March to May 2022 resulted in temperatures reaching 49.5°C, contributing to over 90 fatalities in the region.

Globally, from 1993 to 2022, there were over 9,400 extreme weather events, resulting in nearly 800,000 deaths and $4.2 trillion in economic damages. Countries like China, India, and the Philippines experience recurrent extreme weather, while nations like Dominica, Honduras, and Vanuatu are affected by exceptional events.

Three EU nations, Italy, Spain, and Greece, are among the ten most impacted globally over the last three decades. The intensity and frequency of extreme weather events, such as floods and heatwaves, have increased, making them the new normal for several regions.

According to the Climate Risk Index 2025 by Germanwatch, countries in the Global South face severe impacts from extreme weather events. The index evaluates the economic and human toll of climate-related disasters and ranks nations based on fatalities and the number of affected individuals.

Laura Schaefer, Head of Division for International Climate Policy at Germanwatch, stated, “The climate crisis is increasingly becoming a global security risk and must be addressed with bold multilateral actions.” She also highlighted that better data could expose even greater impacts on Global South countries, which are at risk of increased conflicts and instability due to the climate crisis.

The ‘Climate Risk Index 2025’ report reveals that Bangladesh incurs nearly $300 million in annual losses due to extreme weather, significantly impacting millions. Effective disaster management has reduced fatalities, but the increasing intensity of climate events poses ongoing risks. The report underscores that the Global South, particularly Bangladesh, will face heightened vulnerabilities due to climate change, warranting urgent global action to address these challenges.

Original Source: www.bssnews.net