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The recent flood disaster in Texas dramatically illustrates the increasing risks of extreme weather events. In addition to tragic human losses, they also result in enormous financial damage - increasingly in the billions.
A look at the long-term trend shows that since 1980, the number of weather and climate disasters has increased almost tenfold in the USA alone, with damage in excess of USD 1 billion (adjusted for inflation).
However, US climate policy is completely contrary to this: President Donald Trump is questioning man-made climate change, relaxing environmental regulations and promoting the expansion of fossil fuels. In addition, Trump is dismantling important institutions and authorities (such as the Federal Emergency Management Agency; FEMA) and specifically cutting government funding for climate protection and disaster relief.
This constellation is also increasingly worrying the financial markets, as Insurance companies, businesses and public budgets are facing ever-increasing burdens, but these have so far been inadequately reflected in insurance policies and other market prices!
The rising risks from the increase in global climate damage were already discussed in detail in our 2021 study “The Great Progression”. It is available for download in German on this page.
