Close Menu
  • Briefing
    • Cover Story
    • Latest News
    • Counties
  • Politics
    • Society
  • Special Reports
    • Companies
    • Enterprise
    • Money
    • Technology
  • Columns
  • Dispatches from China
  • Member Content
    • Shop
  • Contact Us
    • About us
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram LinkedIn
Nairobi Business Monthly
Subscribe
  • Briefing
    • Cover Story
    • Latest News
    • Counties
  • Politics
    • Society
  • Special Reports
    • Companies
    • Enterprise
    • Money
    • Technology
  • Columns
  • Dispatches from China
  • Member Content
    • Shop
  • Contact Us
    • About us
Nairobi Business Monthly
Home»Special Reports»Extreme climate caused Sh5.4trn in damages – Report
Special Reports

Extreme climate caused Sh5.4trn in damages – Report

Antony MutungaBy Antony Mutunga10th June 2024Updated:10th June 2024No Comments2 Mins Read
Facebook Twitter WhatsApp Telegram Email
Share
Facebook Twitter WhatsApp Telegram Email

Climate change has caused a minimum of Sh5.41 trillion ($41 billion) damage in the six months since the last major climate conference, COP28, which was held in Dubai, according to the climate breakdown 2024 report by Christian Aid.

The report takes note of four extreme weather events that took place in the first half of 2024; the recent floods in Brazil, flooding and heat waves in Asia and the flooding experienced in East Africa.

“We need rich countries who are largely responsible for causing the climate crisis to massively scale up funding for action on climate change. They need to show real creativity and political will, and tax polluters and the super-rich in order to finance real climate action,” Mariana Paoli, Christian Aid’s Global Advocacy Lead, said.

The Nairobi Law Monthly September Edition

Paoli said burns caused by the climate crisis won’t be healed if people are still throwing fossil fuels on the fire, adding that with slow progress recorded towards shift from fossil fuels and support to lower income countries in coping with climate disasters, it is not easy to quantify billions lost as the true number of damages continue to rise.

“We need to cancel historic debt owed to rich countries by poor ones, and instead make sure that that money is used to improve climate equality, to help everyone to be safer from climate disasters,” Paoli said.

The report, which comes at a time when climate change is affecting life at all scales, highlights that the developed and rich countries are partially to blame as they are responsible for the lion’s share of the greenhouse gases that are heating the atmosphere and fueling extreme events.

Africa has continued to face climate disasters such as terrible floods and landslides. In Kenya, more than 500 people lost their lives to floods and landslides.

The Nairobi Law Monthly September Edition
Follow on Facebook Follow on X (Twitter) Follow on WhatsApp
Share. Facebook Twitter WhatsApp Telegram
Antony Mutunga

Antony Mutunga holds a Bachelors degree in Commerce, Finance from Jomo Kenyatta University of Agriculture and Technology. He previously worked for Altic Investment & Consultancy before he joined NBM team in 2015. His interest in writing ranges from business, economics and technology. He is also our lead researcher in matters business.

Related Posts

Bankruptcies in Germany rise sharply – China Daily

17th June 2024

Reform international financing institutions – President Ruto

24th May 2024
Add A Comment

Comments are closed.

The Nairobi Law Monthly September Edition
Latest Posts

Plan unveiled to shield Kenyans from financial risks

26th June 2025

CAK bans exclusive ISP deals in housing estates

24th June 2025

Visa applicants warned over early appointment scams

24th June 2025

Entrepreneurship can build better tomorrow

23rd June 2025

16 million non-filers spark tax crackdown by KRA

23rd June 2025
The Nairobi Law Monthly September Edition
Nairobi Business Monthly
Facebook X (Twitter) Instagram LinkedIn
  • About Us
  • Member Content
  • Download Magazine
  • Contact Us
  • Privacy policy
© 2025 NairobiBusinessMonthly. Designed by Okii

Type above and press Enter to search. Press Esc to cancel.