The National Oceanic and Atmospheric Administration said there have been 23 extreme weather events in the US that cost at least $1 billion this year through August, eclipsing the year-long record total of 22 set in 2020. AP
The National Oceanic and Atmospheric Administration said there have been 23 extreme weather events in the US that cost at least $1 billion this year through August, eclipsing the year-long record total of 22 set in 2020. AP
The National Oceanic and Atmospheric Administration said there have been 23 extreme weather events in the US that cost at least $1 billion this year through August, eclipsing the year-long record total of 22 set in 2020. AP
The National Oceanic and Atmospheric Administration said there have been 23 extreme weather events in the US that cost at least $1 billion this year through August, eclipsing the year-long record tota

US sets record for billion-dollar weather disasters in 2023


  • English
  • Arabic

The deadly firestorm in Hawaii and Hurricane Idalia's storm surge helped push the US to a record for the number of weather disasters that cost $1 billion or more – and there are still four months to go in what is looking more like a calendar of calamities.

The National Oceanic and Atmospheric Administration announced on Monday that there have been 23 extreme weather events in the US that cost at least $1 billion this year through August, eclipsing the year-long record total of 22 set in 2020.

So far, this year's disasters have cost more than $57.6 billion and claimed at least 253 lives.

And NOAA's count does not yet include Tropical Storm Hilary's damage to California and a deep drought that has struck the south and Midwest because those costs are still be totalled, said Adam Smith, the NOAA applied climatologist and economist who tracks the billion-dollar disasters.

“We're seeing the fingerprints of climate change all over our nation,” Mr Smith said in an interview. “I would not expect things to slow down anytime soon.”

NOAA has been tracking billion-dollar weather disasters in the US since 1980 and adjusts damage costs for inflation. What is happening reflects a rise in the number of disasters and more areas being built in risk-prone locations, Mr Smith said.

“Exposure plus vulnerability plus climate change is supercharging more of these into billion-dollar disasters,” Mr Smith said.

NOAA added eight new billion-dollar disasters to the list since its last update a month ago.

In addition to Idalia and the Hawaiian firestorm that killed at least 115 people, NOAA newly listed an August 11 Minnesota hailstorm; severe storms in the north-east in early August; severe storms in Nebraska, Missouri, Illinois, Indiana and Wisconsin in late July; mid-July hail and severe storms in Michigan, Wisconsin, Ohio, Tennessee and Georgia; deadly flooding in the north-east and Pennsylvania in the second week of July; and a late June outbreak of severe storms in Missouri, Illinois and Indiana.

“This year a lot of the action has been across the centre states, north central, south and south-eastern states,” Mr Smith said.

Experts say the US has to do more to adapt to increased disasters because they will only get worse.

“The climate has already changed and neither the built environment nor the response systems are keeping up with the change,” said former Federal Emergency Management Agency director Craig Fugate, who was not part of the NOAA report.

Mr Smith said he thought the 2020 record would last for a long time because the 20 billion-dollar disasters that year smashed the old record of 16.

It did not, and now he no longer believes new records will last long.

Stanford University climate scientist Chris Field called the trend in billion-dollar disasters “very troubling”.

“But there are things we can do to reverse the trend,” Mr Field said. “If we want to reduce the damages from severe weather, we need to accelerate progress on both stopping climate change and building resilience.”

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EOlive%20Gaea%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Vivek%20Tripathi%2C%20Jessica%20Scopacasa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELicensed%20by%3A%20%3C%2Fstrong%3EDubai%20World%20Trade%20Centre%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Climate-Tech%2C%20Sustainability%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%241.1%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ECornerstone%20Venture%20Partners%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

GRAN%20TURISMO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Neill%20Blomkamp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20David%20Harbour%2C%20Orlando%20Bloom%2C%20Archie%20Madekwe%2C%20Darren%20Barnet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Updated: September 11, 2023, 8:52 PM