Costs
According to IPCC (2011) estimates of annual losses have ranged since 1980 from a few billion to above 200 billion USD (in 2010 dollars), with the highest value for 2005 (the year of Hurricane Katrina). The global weather- and climate-related disaster losses reported over the last few decades reflect mainly monetized direct damages to assets, and are unequally distributed. Loss estimates are lower bound estimates because many impacts, such as loss of human lives, cultural heritage, and ecosystem services, are difficult to value and monetize, and thus they are poorly reflected in estimates of losses.
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Famous quotes containing the word costs:
“That which costs little is less valued.”
—Miguel De Cervantes (1547–1616)
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
—Adam Smith (1723–1790)
“It costs you something to do good!”
—Zora Neale Hurston (1891–1960)