Climate Change's Growing Impact on China: Losses Surge
Climate change is significantly impacting China, with storms and droughts increasing while cold waves decrease. Between 2014 and 2020, indirect losses from weather disasters totaled CNY 91.1 billion, with an average of 27% attributed to climate change.
In the past decade, direct losses from weather disasters in China have averaged CNY 298 billion per year, with CNY 80 billion linked to climate change. This is a significant increase from the average annual losses between 1984 and 2021, which stood at CNY 217 billion (US$30 billion).
Northeast Asia, including China, has seen the highest direct damage impacts on industry due to human-induced climate change. Extreme weather events, such as the unprecedented downpours in Beijing in July 2022 that caused 44 deaths and substantial property damage, are becoming more frequent and intense. Storms, in particular, account for 80% of indirect losses overseas.
To mitigate these losses, locally tailored adaptation strategies and supply-chain resilience are crucial. Despite warming faster than the global average, China is committed to reducing its vulnerability to climate change and its impacts.
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