The world’s most vulnerable countries could lose over 100% of GDP in 2024 from climate related disasters that are insurable, according to research from the Cambridge Institute for Sustainability Leadership (CISL) and broking group Howden, which also demonstrated the transformative economic efficiency of risk-sharing systems to provide these countries with financial security from disasters.
According to the report, the GDP loss for climate vulnerable countries across the Pacific, Caribbean and Indian Ocean underlines the scale and severity of the risks faced by the Global South.
