2024 has been a year of climate extremes. From deadly floods in China and Brazil to devastating droughts in Zambia and record-breaking hurricanes in the Americas, the impacts of climate change have been impossible to ignore.
Our new report, Counting the Cost 2024: A year of climate breakdown, highlights the year’s most expensive climate disasters, illustrating how the climate crisis is reshaping our world. The report also highlights ten extreme weather events that didn’t rack up big enough insured losses but were just as devastating and often affected millions. While just a snapshot, they included several events in poorer countries where many people don’t have insurance and where data is less available.
The cost of climate change in 2024
The financial costs are based only on insured losses, meaning the true financial costs are likely to be even higher, while the human costs are often uncounted.
Among the events causing the greatest financial damage this year, the United States bore the brunt. October’s Hurricane Milton was the most expensive single event, causing $60 billion in damages and claiming 25 lives. Hurricane Helene, which struck the US, Cuba and Mexico in September, followed closely at $55 billion and killed 232 people.
Even outside the largest hurricanes, the US suffered significant losses, with smaller storms collectively costing $60 billion and killing 88 people.
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The human suffering caused by the climate crisis reflects political choices.
Globally, no region was spared from the crippling impacts of climate disasters. Floods in China cost $15.6 billion and killed 315 people. Typhoon Yagi devastated Southwest Asia, claiming over 800 lives and causing widespread destruction from the Philippines to Thailand.
Europe faced its share of hardship, with three of the ten costliest disasters, including floods in Spain and Germany and Storm Boris, which collectively caused $13.87 billion in damage and claimed 258 lives.
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Christian Aid is calling on the UK to support climate vulnerable communities and build trust on the global stage. Get involved.
Unequal impact of climate disasters
Behind the billion-dollar figures are countless lost lives and livelihoods.
Cyclone Chido devastated Mayotte in December, potentially killing more than 1,000 people. In Colombia, the Amazon River dropped by 90%, threatening the livelihoods of Indigenous communities. Heatwaves in Bangladesh affected 33 million people, while floods in West Africa displaced millions across Nigeria, Chad and Niger.
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Slower-onset crises
In addition to immediate disasters like hurricanes and floods, slower-onset crises such as droughts and heatwaves caused immense suffering in 2024. Southern Africa endured its worst drought in living memory, affecting over 14 million people in Zambia, Malawi, Namibia and Zimbabwe.
Behind these events are countless human stories of resilience and loss. As Mohamed Adow, Director of Power Shift Africa, explained, ‘Africa may not have the biggest insured losses, but we suffer a terrible human toll in lives lost and livelihoods destroyed. The fact we contribute less than 4% of global emissions but bear the brunt of the impacts underlines why Africa needs financial support to deal with a crisis caused by the rich world.’
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Action is needed
These disasters make it clear: the climate crisis is here, and its impacts are escalating.
These extreme events highlight the need for more urgent action to reduce carbon emissions and accelerate the transition to renewable energy and underlines the importance of providing funding for vulnerable people devastated by the climate crisis.
The human suffering caused by the climate crisis reflects political choices...Disasters are being supercharged by decisions to keep burning fossil fuels, and to allow emissions to rise...In 2025 we need to see governments leading, and taking action to accelerate the green transition, reduce emissions, and fund their promises.
