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Disaster damage expected to hit $300 billion yearly as events intensify


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By Chris Arsenault ROME (Thomson Reuters Foundation) - Investing in insurance programs for poor farmers today could save tens of billions of dollars in coming decades as climate change upsets growing patterns and makes harvests fail, U.N. officials said ahead of next week's conference in Japan on disaster preparedness. An investment of $350,000 in disaster prevention for farmers, including irrigation systems, crop insurance and terraces saves an estimated $4 million in averted costs for humanitarian relief when a drought or flood hits, said Richard Choularton, chief of disaster risk reduction at the World Food Programme (WFP).

 

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