The past year has seen some of the most destructive climate catastrophes on record. Wildfires, hurricanes and floods are happening at an alarming frequency, with a huge impact on human lives and a significant financial cost.
The Los Angeles wildfires, which have killed at least 25 and have displaced tens of thousands, are the latest in a long list of extreme weather events that include the large-scale flooding in Europe last year and devastating hurricanes across the Caribbean. In economic terms, these events caused global losses of $320 billion in 2024, according to the latest report from reinsurer Munich Re, published last week.
