Climate-linked disasters cost soars: UN

The economic cost of climate-related disasters hit $2.25 trillion over the last two decades, an increase of more than 250 percent compared to the previous 20 years, the UN said yesterday.

The United Nations Office for Disaster Risk Reduction (UNISDR) noted that "climate change is increasing the frequency and severity of extreme weather events" such as floods and storms.

Between 1978-1997, total losses for climate-related disasters was $895 billion (780 billion euros), UNISDR said in a report by the Centre for Research on the Epidemiology of Disasters (CRED) at the Universite Catholique de Louvain in Belgium.

But between 1998-2017 that figure hit $2.25 trillion, the report said, listing the United States, China, Japan and India as the countries where the financial toll has been highest.

UNISDR counted the number of climate-related disasters between 1998-2017 at more than 6,600, with storms and floods the most common events.

Meanwhile, EU ministers on Tuesday agreed the extent of emission cuts to be imposed on carmakers, in the wake of a warning by UN experts on the dangers of global warming.

Auto-making giant Germany in a fierce resistance succeeded in imposing a compromise plan tabled by Austria.

Ministers agreed to a 35 percent CO2 reduction for new cars by 2030 compared to models made for 2021. This target was reduced to 30 percent for vans.