Bank calls for better risk assessment
The world is ill-prepared for an increase in disasters exacerbated by climate change, rising populations and urbanisation, the World Bank has found.
Its report, The Making of a Riskier Future, reveals that the annual cost of damage from disasters (averaged over ten years) increased tenfold between 1976 and 1985 and 2005 and 2014, from $14bn to more than $140bn. The bank said losses would rise further, with densely populated coastal areas in particular at risk. Many are sinking, and when coupled with rising sea levels, annual losses in 136 coastal cities could increase from $6bn in 2010 to $1,000bn in 2070.
A global sea-level rise ...