A new report by Oxera for the International Chamber of Commerce, which analyzed thousands of climate events between 2014 and 2023, shows the global cost of climate disasters to be more than $2 trillion over this 10-year period, with 1.6 billion people impacted. As reported by Axios, the Oxera report estimates the damage to "roughly equate to those of the 2008 global financial crisis. In the last two full years of the report alone, global economic damages reached $451 billion. That is a 19% rise compared to the previous eight years of the decade."

Three countries experienced the highest economic losses over the 10-year period, with the United States leading with almost $940 million, followed by China ($267.9 billion) and India ($112 billion).