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May 17, 2013

UN: Disasters have cost $2.5T since 2000 but little is being invested to reduce risk

  • The report says a New Zealand utility spent $6 million on seismic protection that saved it $65 million in the 2010 and 2011 quakes.
    • By EDITH M. LEDERER
    Associated Press

    UNITED NATIONS — Economic losses from disasters since 2000 are in the range of $2.5 trillion, a figure at least 50 percent higher than previous international estimates, according to a U.N. report released Wednesday.

    The U.N. Office for Disaster Risk Reduction warned in the 246-page report that economic losses from floods, earthquakes and drought will continue to escalate unless businesses take action to reduce their exposure to disaster risks.


     
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