According to the research, climate change is causing increasing damage

Climate change is making extreme weather events more common. According to a study, Asian countries and the US are mainly affected. But costs are also high in Switzerland.

The main cause of high weather-related damage is tropical cyclones, especially in the US and in East and Southeast Asia. This is the conclusion of an analysis of 36 countries published by Swiss Re on Wednesday.

With annual economic damage currently at 3 percent of gross domestic product (GDP), the Philippines is the most affected by weather hazards compared to other countries, according to the study. Moreover, the dangers there are likely to increase.

The US follows in second place with a damage of 0.4 percent of GDP. In absolute terms, the damage amount is the highest there at 97 billion dollars. At the same time, there is a medium chance that weather risks will increase.

With 0.2 percent, Switzerland ranks ninth among the countries surveyed. Only Austria ranks higher in fourth place among European countries (0.3 percent of GDP).

Heavy thunderstorms, but also winter storms and floods are the main reasons for high costs in Switzerland. Unlike many developing countries, Switzerland has a high level of coverage and therefore strong insurance protection.

According to the study, it will become problematic for countries if measures are not taken to adapt and reduce damage. Such measures include enforcing building codes or improving flood protection. At the same time, attention must be paid to the settlement of areas vulnerable to natural disasters.

According to the information, the report ‘Changing Climates: The heat is (still) on’ from the Swiss Re Institute is based on findings from the Intergovernmental Panel on Climate Change (IPCC) and our own assessments. (sda/awp/lyn)