Natural disasters to cost €328 billion annually by 2030

The frequency of extreme weather events and natural disasters could cost the world €328 billion annually by 2030, the Red Cross and the European Commission warned today, writes cnbc.com, reports the BiH news agency Patria.

This year alone, several European countries have suffered severe floods, the consequences of which they are still facing. The damage from the May floods that hit Bosnia and Herzegovina, Serbia, and Croatia is estimated at more than €3.5 billion.

This warning was issued the day before the UN climate change conference in New York. Kristalina Georgieva, EU Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, said that natural disasters often cause loss of life. The need for the importance of disaster preparedness was highlighted.

Although the Red Cross did not draw a direct link between extreme weather events and climate change, predictions are that around 375 million people will be affected by disasters that can be linked to climate change by 2015.