Factbox: COP27: Counting the rising cost of climate disasters
Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity of flooding and wildfires, insurers and risk modelling experts say.
Related Knowledge Center: Climate diplomacy: COP 27
The 27th Conference of the Parties (COP 27) produced a groundbreaking agreement to create a “loss and damage” fund to help developing nations cope with the impact of climate change.
But the conference, held from Nov. 6 to Nov. 20, 2022, in Sharm el-Sheik, Egypt, fell short of a hoped-for agreement to speed reductions of greenhouse gas emissions.