Tuesday, July 1News That Matters

Tag: Economic Damage

Building Resilience: How Smarter Development Can Reduce Disaster Losses

Building Resilience: How Smarter Development Can Reduce Disaster Losses

Breaking News, Climate Actions, Disasters
On March 30, 2025, a powerful 7.7 magnitude earthquake rocked Myanmar. Among the survivors was Ma Phyu Sin Win, who clutched a relief package filled with essentials food, medicine, hygiene supplies, and solar lamps. “Every little item helps,” she said, highlighting the harsh reality many face when disasters strike. Around the globe, disasters are growing more frequent and intense. From cyclones and floods to earthquakes, the impacts are devastating not just in the moment, but for months and years that follow. In 2024 alone, extreme weather caused 93% of all economic damage worldwide, totaling $320 billion. The road to recovery is long and often diverts critical resources away from education, health, and infrastructure. But disasters aren’t “natural” by default. They happen when natur...
Fossil Fuel Giants Linked to 1998 India Heatwave, Billions in Economic Damage Traced to Emissions

Fossil Fuel Giants Linked to 1998 India Heatwave, Billions in Economic Damage Traced to Emissions

Breaking News, Climate Actions
A new study published in Nature reveals that five major fossil fuel companies Chevron, ExxonMobil, Saudi Aramco, Gazprom, and BP significantly intensified the 1998 heatwave in India, contributing to massive economic losses and highlighting the direct link between corporate emissions and extreme climate events. How Big Oil Fueled the 1998 Heatwave The 1998 heatwave in India, considered the deadliest in half a century, has now been scientifically linked to human-induced climate change. According to researchers from Dartmouth College in the US, emissions from five of the world’s largest oil and gas companies caused a measurable spike in temperatures increasing the intensity of the five hottest days during that period by 0.08°C. The study found that Chevron alone was responsible f...