12/01/2022

(Reuters) Natural Disasters Cost Insurers $120 Billion In 2021, Munich Re Says

Reuters - Tom Sims | Alexander Hübner



Summary
  • Second-most costly year
  • Tally is higher than Swiss Re estimate in December
  • U.S. accounts for high portion of losses
  • Climate change to result in more extreme weather
FRANKFURT - Marked by devastating hurricanes and cold snaps in the United States, 2021 proved the second-most costly year on record for the world's insurers, Munich Re said on Monday, warning that extreme weather was more likely with climate change.

Insured losses from natural catastrophes totalled around $120 billion last year, second only to the $146 billion in damages during the hurricane-ridden year of 2017.

The annual tally by Munich Re , the world's largest resinsurer, is higher than an estimate of $105 billion that competitor Swiss Re published last month.

The U.S. - ravaged by dozens of tornadoes in December, and by Hurricane Ida and freezes in Texas earlier in the year - accounted for an unusually large portion of the losses, Munich Re said.

"The images of natural disasters in 2021 are disturbing. Climate research increasingly confirms that extreme weather has become more likely," said Torsten Jeworrek, a member of Munich Re's board.

Nearly 10,000 people died from natural catastrophes, in line with previous years. Total losses, including those not covered by insurance, were $280 billion, the fourth-highest on record.

Residents remove rubble among the debris left over by the July 2021 extreme weather and lethal floods of the nearby Ahr river, in Schuld, Germany, July 17, 2021.REUTERS/Wolfgang Rattay
Residents remove rubble among the debris left over by the July 2021 extreme weather and lethal floods of the nearby Ahr river, in Schuld, Germany, July 17, 2021. REUTERS/Wolfgang Rattay

Hurricane Ida, damage from which stretched from New Orleans to New York, resulted in $36 billion in insured losses. The winter storm that primarily hit Texas resulted in around $15 billion in losses. Floods in Germany cost billions too.

"The 2021 disaster statistics are striking because some of the extreme weather events are of the kind that are likely to become more frequent or more severe as a result of climate change," said Ernst Rauch, Chief Climate and Geo Scientist at Munich Re.

Many scientists agree that events in 2021 were exacerbated by climate change and that there is more – and worse – to come as the Earth's atmosphere continues to warm through the next decade and beyond.

The costliest year on record was 2017, with hurricanes Harvey, Irma and Maria. Other severe years were 2011, when big earthquakes hit Japan and New Zealand, and 2005, when Hurricane Katrina ravaged New Orleans.

Insurers have in some cases been raising the rates they charge as a result of the increasing likelihood of disasters, and in some places have stopped providing coverage.

As insurers warn about climate change and the costs associated with it, they themselves are under pressure from activists to stop insuring dirty industries.

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(AU The Conversation) Scientists Call For A Moratorium On Climate Change Research Until Governments Take Real Action

The Conversation |  | 

Mario Tama/Getty Images

Authors
  •  
    Professor, Massey University
  •  
    Professor of Environmental Planning, University of Waikato
  •  
    Professor and ARC Future Fellow, University of the Sunshine Coast     
Decades of scientific evidence demonstrate unequivocally that human activities jeopardise life on Earth. Dangerous anthropogenic interference with the climate system compounds many other drivers of global change.

Governments concur: the science is settled. But governments have failed to act at the scale and pace required. What should climate change scientists do?

There is an unwritten social contract between science and society. Public investment in science is intended to improve understanding about our world and support beneficial societal outcomes. However, for climate change, the science-society contract is now broken.

The failure to act decisively is an indictment on governments and political leaders across the board, but climate change scientists cannot be absolved of responsibility.

As we write in an article about this conundrum, the tragedy is the compulsion to provide ever more evidence when the phenomena are well understood and the science widely accepted. The tragedy is being gaslighted into thinking the impasse is somehow our fault, and we need to do science differently: crafting new scientific institutions, strategies, collaborations and methodologies.

Yet, global carbon dioxide emissions are 60% higher today than they were in 1990, when the Intergovernmental Panel on Climate Change (IPCC) published its first assessment. At some point we need to recognise the problem is political and that further climate change science may even divert attention away from where the problem truly lies.

Governments agree that the science is settled but scientists are compelled to do more research despite inadequate government action and worsening climate change. Author providedCC BY-ND

Was COP26 too little, too late?

The outcome of COP26, summarised in the draft Glasgow Climate Pact, includes some progress, including an agreement to begin reducing coal-fired power, removing subsidies on other fossil fuels, and a commitment to double adaptation finance to improve climate resilience for countries with the lowest incomes.

But many of the world’s leading scientists argue that this is too little, too late. They note the failure of COP26 to translate the 2015 Paris Agreement into practical reality to keep global warming below 1.5℃ above pre-industrial levels.

Even if COP26 commitments are fulfilled, there is a strong likelihood that humanity and life on Earth face a precarious future.

What are climate change scientists to do in the face of this evidence? We see three possible options — two that are untenable, one that is unpalatable.

Where to from here for climate change scientists?

The first option is to collect more evidence and hope for action. Continue the IPCC process that stays politically neutral and abstains from policy prescriptions. A recent editorial in Nature called on scientists to do just that: stay engaged to support future climate COPs.

However, this choice not only ignores the complex relationship between science and policy, it runs counter to the logic of our scientific training to reflect and act on the evidence. We know why global warming is happening and what to do. We have known for a long time.

Governments just haven’t taken the necessary action. In a recent Nature survey, six in ten of the IPCC scientists who responded expect 3℃ warming above pre-industrial levels by 2100. Persisting with this first option is therefore untenable.

The second option is more intensive social science research and climate change advocacy. As Harvard historian Naomi Oreskes recently observed, the work of the IPCC’s Working Group I (WGI, on the physical science basis of climate change) is complete and should be closed down. Attention needs to focus on translating this understanding into action, which is the realm of WGII (on impacts, adaptation and vulnerability) and WGIII (on mitigation of greenhouse gas emissions).

In parallel, growing numbers of scientists are getting involved in diverse forms of advocacy, including non-violent civil disobedience. However, albeit more promising than option one, there is little evidence of impact thus far and it is doubtful this pathway will lead to the urgent transformative actions required. This option is also not tenable.

Halt on IPCC work until governments do their part

The third option is much more radical, but unpalatable. We call for a moratorium on climate change research that does little more than document global warming and maladaptation.

Attention needs to focus on exposing and re-negotiating the broken science-society contract. Given the rupture to the contract outlined here, we call for a halt on all further IPCC assessments until governments are willing to fulfil their responsibilities in good faith and mobilise action to secure a safe level of global warming. This option is the only way to overcome the tragedy of climate change science.

Readers might agree with our framing of this tragedy but disagree with our assessment of options. Some may want greater detail on what a moratorium could encompass or worry it may damage the credibility and objectivity of the scientific community.

However, we question whether it is our “duty” to use public funds to continue to refine the state of climate change knowledge (which is unlikely to lead to the actions required), or whether a more radical approach will serve society better.

We have reached a critical juncture for humanity and the planet. Given the unfolding tragedy, a moratorium on climate change research is the only responsible option for revealing and then restoring the broken science-society contract. The other two options are seductive but offer false hope. 

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(BBC) Past Seven Years Hottest On Record - EU Satellite Data

BBC News - Georgina Rannard

A woman cools off at a fountain in Italy
Image source, EPA

The past seven years have been the hottest on record, according to new data from the EU's satellite system.

The Copernicus Climate Change Service said 2021 was the fifth-warmest year, with record-breaking heat in some regions.

And the amount of warming gases in our atmosphere continued to increase.

Governments are committed to limiting global temperature rise to 1.5C to curb climate change. But scientists warn that time is fast running out.

The environmental, human and economic costs of hotter temperatures are already being seen globally.

Europe lived through its warmest summer, and temperature records in western US and Canada were broken by several degrees. Extreme wildfires in July and August burnt almost entire towns to the ground and killed hundreds.

"These events are a stark reminder of the need to change our ways, take decisive and effective steps toward a sustainable society and work towards reducing net carbon emissions," Carlo Buontempo, director of the Copernicus Climate Change Service, explains.

The Copernicus data comes from a constellation of Sentinel satellites that monitor the Earth from orbit, as well as measurements taken at ground level.

Fifth-warmest year

Copernicus data showed that 2021 was the fifth-hottest on record, marginally warmer than 2015 and 2018. Taken together, the past seven years were the hottest seven years on record by a clear margin, the agency explained.

The 2021 average temperature was 1.1-1.2C above the pre-industrial level around 150 years ago.



Analysis - Justin Rowlatt, climate editor


It would be easy to dismiss the latest global temperature figure as a non-event. Who celebrates fifth place in anything?

If we were in a film, these annual temperature updates would be the ominous drum beat signalling the plot is darkening.

They measure out the pace of change in our world. The increments may be tiny - a fraction of a degree - but the direction of travel is inescapable.

And make no mistake, the rhythm they mark out increasingly sets the pace for all our lives. Think of the fires and floods that affected so many people in 2021.

And now look again at what the data is telling us: the seven hottest years ever recorded have been the last seven years.

We can't say we weren't warned.


The agency said that the start of the year saw relatively low temperatures compared to recent years, but that by June monthly temperatures were at least among the warmest four recorded.

Places with above average temperatures included the west coast of US and Canada, north-east Canada and Greenland, large parts of north and central Africa, and the Middle East.

Infographic 1px transparent line The weather phenomenon known as La Niña - when surface sea temperatures are cooler - contributed to below-average temperatures in western and eastern Siberia, Alaska, and the central and eastern Pacific during the start and end of 2021.

Europe's warmest summer

Overall Europe's annual temperature was outside the ten warmest years on record but the summer was the hottest.

A heatwave swept through Mediterranean in July and August, particularly affecting Greece, Spain and Italy.

    In Sicily, 48.8C degrees was reported, breaking Europe's record for highest temperature by 0.8C.

    The hot temperatures in the eastern and central Mediterranean was followed by intense wildfires particular in Turkey but also in Greece, Italy, Tunisia and Algeria.

    And Europe also saw extreme wet weather, with huge floods devastating parts of Germany, Belgium and the Netherlands.

    These events were part of the same picture of weather systems disrupted by climate change.

    Warming gases increased


    The concentration in the earth's atmosphere of two gases that significantly contribute to climate change rose in 2021, said Copernicus.

    Carbon dioxide concentrations reached 414.3 parts per million last year, growing at a similar rate to 2020.

    Climate change is causing once-mighty rivers to dry up and temperatures to rise to deadly levels in Mexico

    But scientists remarked that methane levels in the atmosphere increased to reach an unprecedented approximately 1,876 parts per billion. The growth rate of methane was also higher than in 2020 - Copernicus said both rates were very high compared to the past two decades of satellite data.

    Scientist say it is important to reduce methane levels because it is more potent than CO2, however it lasts much less time in the Earth's atmosphere.

    The increasing concentrations of these gases showed no signs of slowing down, concluded Vincent-Henri Peuch, Director of the Copernicus Atmosphere Monitoring Service.

    More data about 2021's temperatures will be released in the coming days from other agencies including from Nasa and the UK's Met Office.

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