Global Warming to Cause Japan $34 Billion Worth of Damage a Year
Posted on: Sunday, 17 July 2005, 21:00 CDT
Jul. 16--TOKYO -- Japan could sustain damage of up to $34 billion (about 3.8 trillion yen) annually by 2080 if global warming continues at its current pace, according to a recent report by a British insurance industry group.
While calling on all governments to curb greenhouse gas emissions, the Association of British Insurers said in the report that Japan would suffer most from typhoons, among natural disasters linked to global warming.
The maximum $34 billion worth of annual damage is more than double the amount of insurance money nonlife insurers paid in Japan to customers in 2004 -- the largest-ever amount paid in the country.
An association official said actual damages are expected to be greater than the latest estimates for Japan and other major states as the estimates did not take into account damage from such factors as high tide waters, heat waves and effects on the farm sector.
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Source: Kyodo News International, Tokyo
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