greatest challenge

The number and severity of catastrophes such as the June long weekend storm are expected to rise significantly over the next decade, because of climate change.

Leading global insurer Allianz SE, based in Munich, made the predictions in a report, Hedging Climate Change, which was made public in Sydney on Tuesday.

Allianz management board member Clement Booth said climate change was one of the greatest challenges that humankind faced.

Allianz’s report said the number of natural catastrophes had gone from an average of 30 to 40 per year in the 1970s to 120 to 140 a year since the 1990s.

It said most of these were either related, suggesting a connection between increases in natural catastrophes and rising global temperatures as a result of climate change.

Newcastle Herald, 20 Sep 2007 – image held by this website