Extreme disasters claimed 2 million lives and cost the world economy over $4 trillion since 1970: WMO report

Despite being the first storm of the North Indian Ocean’s infamous pre-monsoon cyclone season 2023, Cyclone Mocha served as an excruciatingly effective reminder that we are simply nothing compared to nature's wrath. Mocha was the strongest cyclone to strike Bangladesh in over a decade, causing a total of Rs 8.8 crores in damages — a hauntingly impressive amount for a storm that lasted less than a week.

While improved early warning systems have been effective in reducing the number of human fatalities after such disasters, the economic losses just continue to skyrocket decade after decade. And now, the World Meteorological Organisation's (WMO) latest report has revealed the stark reality of just how steep the jump is.

According to the international organisation, 11,778 extreme weather-, climate- and water-related disasters between 1970 and 2021 resulted in over 2 million worldwide deaths and dished out $4.3 trillion in economic losses.

Strangling the weak

What's predictably worse, perhaps, is that an astronomical portion of these natural disasters attacked the underprivileged. About 90% of the tragic deaths were reported from developing countries, choking out disproportionately high costs compared to their economies.

For example, about one-fifth of the disasters in Small Island Developing States squeezed out losses equivalent to 5% of their respective Gross Domestic Products (GDP).

In contrast, for richer countries, economic losses were equivalent to less than 0.1% of their respective GDPs in more than four-fifths of these disasters. Additionally, no disasters were reported with economic losses more than 3.5%.

Asia In Crosshairs

Asia, it turns out, suffered among the worst. Between 1970 and 2021, almost half of all worldwide reported natural disaster-related deaths came from this continent, with the all-too-familiar cyclone being the leading cause of reported deaths. The report outlines that these disasters cost Asia upwards of US $1.4 trillion in economic losses.

However, things are getting better (death toll-wise, at least), and the United Nations' Early Warning For All initiative has been touted as somewhat of a saviour in this regard. The report notes that the worldwide early warning system provides a massive tenfold return on investment.

In addition, the initiative can be especially crucial in bridging the sore gap we witnessed between the developed and developing nations, since the latter currently sorely lack disaster prediction systems. The first set of 30 countries has already been identified for the roll-out, which will begin in 2023.

Recommended stories: