This is supposed to throw us into a panic?: World Bank and UN say that climate-related hazards cost 0.1 percent of world product in 2008

Report paints grim scenario of impact of climate change | The Manila Bulletin Newspaper Online

...This was the warning aired in “Natural Hazards, Unnatural Disasters: the Economics of Effective Prevention,” a recent report on the economics of disaster prevention jointly produced by the World Bank (WB) and the United Nations (UN), that was presented Thursday to the Senate.

“Climate-related hazards (extreme events) have resulted in an average of $59 billion (P2,596,000, 000,000) a year in global damages from 1990 through 2008 or 0.1 percent of world product in 2008. Tropical cyclones account for 44 percent and floods, 33 percent,” the report said.

It said “there is a widespread concern that climate change could increase future damages from extreme events.’’

ONE PERCENT GDP TO [ALLEGEDLY PREVENT DAMAGE TO SOME UNSPECIFIED FRACTION OF 0.1 PERCENT OF WORLD PRODUCT]

A report by scientists in the Netherlands and Germany indicated that a relatively low investment of 1 percent GDP would have a high impact in slowing temperature rises.