US Climate Disasters Racked Up $165 Billion in Damage in 2022

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A massive hurricane, a historic drought, and 16 other major disasters across the US collectively racked up $165 billion in damages and killed at least 474 people in 2022, according to a National Oceanic and Atmospheric Administration analysis published Tuesday. NOAA’s National Centers for Environmental Information track the biggest of the big disasters, each one costing at least $1 billion in damage. 2022 was the nation’s third most expensive year for billion-dollar disasters by NOAA’s ranking, following 2017 ($373.2 billion) and 2005 ($253.5 billion). Billion-dollar disasters are the new normal in the US and the rest of the world. That’s because people continue to move and build in risky areas — and the risk itself increases as the planet gets warmer, wetter and more prone to extremes. Severe weather events and other disasters globally cost roughly $120 billion in insured losses and $270 billion in uninsured losses last year, according to estimates by insurance giant Munich Re. And all these disasters played out during the fifth-warmest year on record, estimates the European Union’s Copernicus Climate Change Service. Subscribe to our YouTube channel: Subscribe to our newest channel Quicktake Explained: Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: Connect with us on… YouTube: Breaking News on YouTube: Twitter: Facebook: Instagram:
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