China lost $18 billion in 2021 due to extreme weather: UN report

Economic losses from drought, floods and landslides have rocketed in Asia, causing total damage of USD 35.6 billion, affecting nearly 50 million people, according to a new report from the World Meteorological Organization (WMO).
Last year, China lost USD 18.4 billion due to extreme weather conditions, the highest economic losses faced in Asia, followed by India’s USD 3.2 billion. “In 2021, flooding caused the highest economic losses in China (USD 18.4 billion), followed by India (USD 3.2 billion), and Thailand (USD 0.6 billion). Storms also caused significant economic damage, especially in India (USD 4.4 billion), China (USD 3.0 billion), and Japan (USD 2 billion),” the WMO said in a report titled the State of the Climate in Asia 2021.
The report highlighted how climate change impacts are wreaking an ever-increasing human, financial and environmental toll, worsening food insecurity and poverty and holding back sustainable development. The report also painted a worrying scenario for future water stress. High Mountain Asia, including the Himalayas and the Tibetan Plateau, contains the largest volume of ice outside of the polar region, with approximately an area of 100,000 km2 of glacier coverage. According to the report, the rate of glacier retreat is accelerating and many glaciers suffered from intense mass losses as the result of exceptionally warm and dry conditions in 2021. These so-called water towers of the world are vital for freshwater supplies for the most densely populated part of the planet and so glacier retreat has major implications for future generations.
Water-related extremes are the most important hazard in Asia, according to WMO.
“The climate indicators and extreme events shown this report and expected increase in precipitation over much of Asia in the future shows just how vital it is to strengthen early warning systems,” said WMO Secretary-General Prof. Petteri Taalas.