Rising cost of climate change will challenge countries and companies in 2023

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🌎 Year in Review: Insurers felt the pain, as 2022 delivered three of the decade's costliest disasters - dystopian flooding in Pakistan, deadly summer heatwaves in Europe, and Hurricane Ian tearing across southern U.S., according to a risk modeling firm

A view shows the site of a deadly collapse of parts of a mountain glacier in the Italian Alps amid record temperatures, at Marmolada ridge, Italy July 5, 2022. REUTERS/Guglielmo Mangiapane/File Photo

"I get it," Hayhoe said. "It's a psychological reaction to the genuine fear that people feel when they start to understand the magnitude of this problem." Others sought to take their grievances to court. As of today, there are 2,176 climate-related lawsuits in play across the world, including 654 filed in U.S. courtrooms, according to the Sabin Center for Climate Change Law at Columbia University.in calculating exactly how much a country's activity may have contributed to climate change – and to specific disasters. This line of argument, referred to as "climate attribution science," made its way into more courtrooms.

"So far it's been a battle of the experts on paper," said Sabin Center's executive director, Michael Burger. "What we have not yet seen is an actual trial" presenting evidence toward attributing a certain percent of obligation to a climate-polluting company or country.With the new year, expect more public anxiety as climate change continues to escalate – and more worry among companies and governments over liability and risk.

At the end of the year, countries will meet again at the next U.N. climate summit, COP28, in Dubai. And they will be under extra pressure to see that emissions are cut in half by 2030 and to net-zero by 2050 - the"An increasing number of powerful actors are coming to terms with the fact that we can't keep sticking our heads in the sand," Burger said.

 

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Need some of that rain in Texas!

Only Dystopia witnessed this year was in the political landscape. Flooding is quite normal

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