The Asia Pacific may be the most adversely impacted region by the pronounced increase in the frequency of extreme weather events around the world. The Guy Carpenter Asia-Pacific Catastrophe Report 2017 projects an increase in economic losses from natural disasters in Asia, which amounted to USD 126 million a day between 2006 to 2015 (1).
The latest annual report by Marsh & McLennan Companies’ Asia-Pacific Risk Center titled "From Threats to Impact - Evolving Risk Concerns in Asia-Pacific" states that six of the 10 countries most affected by natural disasters were in the region (2).
Floods and tropical cyclones are the main drivers of economic losses and often hit coastal areas, where most people and assets are concentrated. While environmental risks are expected and relatively well understood, they have not been adequately addressed and can still surprise us.
From Threats to Impact - Evolving Risk Concerns in Asia-Pacific provides an analysis of the adverse impact of climate change on infrastructure and the reliability and efficiency of energy, transport and water networks. In July 2018, for instance, Typhoon Maria caused over 55,000 households in Taipei, Taiwan, to be left without power for hours. In addition to direct losses, natural disasters also often delay repair and maintenance operations, hindering the emergency response needed for a prompt recovery.
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NOTE:
(1) Asian Development Bank. Disaster Risk in Asia and the Pacific: Assessment, Management, and Finance. (Asian Development Bank, 2016)
(2) Eckstein, D., Künzel, V. & Schäfer, L. Global Climate Risk Index 2018. (Germanwatch, 2017)