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During the final three decades of the 20th Century, the world experienced at most 100 major disasters — both natural and industrial — every year, with annual damages averaging $70 billion. During the most recent two decades, the world has been afflicted with up to 500 major disasters every year. Annual damages have averaged $170 billion — in 2011 and 2017, over $300 billion. The upward trend is expected to continue without interruption.
Remarkably, this mounting crisis is on just about no one’s radar, except the United Nations, whose Office for Disaster Risk Reduction has been screaming the alarm for years. Its most recent annual report on the situation begins with these words: Continue reading