--- title: Natural Disasters: Climate Change and Urbanization Hike Risk description: The cost of natural disasters worldwide could hit $314 billion annually by 2030, up from around $250 billion now, canonical: https://time.com/4528472/natural-disasters-climate-change/ author: Justin Worland article:opinion: false article:content_tier: free article:published_time: 2016-10-13T19:49:52.000Z article:modified_time: 2026-02-23T01:09:27.596Z article:section: Science og:title: Natural Disasters: Climate Change and Urbanization Hike Risk og:description: The cost of natural disasters worldwide could hit $314 billion annually by 2030, up from around $250 billion now, og:url: https://time.com/4528472/natural-disasters-climate-change/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltc1b9cf33c961204d/6988a9bf97cdff544c6ae272/flooding-hurricane-matthew-climate-change.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 6795 og:image:height: 3822 og:image:alt: flooding hurricane matthew climate change og:type: article twitter:card: summary_large_image twitter:title: Natural Disasters: Climate Change and Urbanization Hike Risk twitter:description: The cost of natural disasters worldwide could hit $314 billion annually by 2030, up from around $250 billion now, twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltc1b9cf33c961204d/6988a9bf97cdff544c6ae272/flooding-hurricane-matthew-climate-change.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Cost of Natural Disasters Could Top $300 Billion by 2030, Report Says > Sponsored content. 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It reaches 40,000 subscribers with a 34.2% open rate and a 2.1% click rate as of August 2026. #### Where can I follow the energy transition as a business story? Future Proof covers climate and energy as an economic and business story rather than only an environmental one. It publishes every Friday and is free at time.com/newsletters. #### Who writes Future Proof? Justin Worland, a senior correspondent at TIME and an award-winning climate journalist, writes Future Proof. #### Is Future Proof free? Yes. Future Proof is free at time.com/newsletters.  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Oct 13, 2016 7:49 PM UTC  A residence is inundated by floodwaters on Oct. 12, near Lumberton, North Carolina. A residence is inundated by floodwaters on Oct. 12, near Lumberton, North Carolina.Sean Rayford—Getty Images  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Oct 13, 2016 7:49 PM UTC The cost of natural disasters worldwide could hit $314 billion annually by 2030, up from around $250 billion now, as urban expansion continues at a eesiapid pace and global warming continues to contribute to a rise in natural disasters, according to new [research](https://www.gfdrr.org/sites/default/files/publication/Urban%20Resilience%20Flagship%20Report%20FINAL%20%2810%2012%2016%29.pdf). The authors of the World Bank report encourage policymakers to prioritize measures that support urban resilience including infrastructure projects and changes to building codes. Annual investment of $6 billion could reduce risk by $360 billion over 15 years, an 80% reduction in the financial risks of natural disasters, according to the report. **Read More:** [Climate Change Doubled the Size of Forest Fires in Western U.S.](http://time.com/4525178/climate-change-forest-fires/) Addressing natural disasters before they happen requires a change of thinking for many local leaders accustomed to dealing with problems after the fact, says Ede Ijjasz-Vasquez, a senior director at the World Bank. But the visible increase in the frequency of [extreme weather](http://time.com/4255428/climate-change-extreme-weather/) events has persuaded many mayors to change their tune, Ijjasz-Vasquez says. Investments in resilience—or the lack thereof—will have profound ramifications for a slew of issues from economic competitiveness to poverty, the report authors argue. And because urban centers are key drivers of economic growth, if cities are slow to recover from disasters it could have a negative impact on growth in the developing world. **Read More:** [This Law Could Stem the Rising Costs of Flooding](http://time.com/4510734/floods-climate-change-flood-insurance/) The costs of adaptation efforts—while less than the projected cost of responding to natural disasters—total in the billions. Some of that funding will come from sources like the World Bank, which has committed $2 billion annually to urban resilience. Other funding may come from the [green climate fund](http://time.com/4138150/finance-paris-climate-conference/), an international fund intended to help finance climate change initiatives in the developing world. Ultimately, most projects will require some combination of funding source. “It cannot just be the city alone, the individual himself, the nation or the state alone,” says Ijjasz-Vasquez. “Everyone has to contribute to this process.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4528472/natural-disasters-climate-change/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4528472/natural-disasters-climate-change/"},"headline":"Cost of Natural Disasters Could Top $300 Billion by 2030, Report Says","datePublished":"2016-10-13T19:49:52.000Z","dateModified":"2026-02-23T01:09:27.596Z","description":"But investing in resilience measures could reduce that risk","url":"https://time.com/4528472/natural-disasters-climate-change/","keywords":["climate change","Natural Disasters"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltc1b9cf33c961204d/6988a9bf97cdff544c6ae272/flooding-hurricane-matthew-climate-change.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Justin Worland","jobTitle":"Senior Correspondent","url":"https://time.com/author/justin-worland/"}],"articleSection":"Science","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltc1b9cf33c961204d/6988a9bf97cdff544c6ae272/flooding-hurricane-matthew-climate-change.jpeg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"flooding hurricane matthew climate change","caption":"flooding hurricane matthew climate change","creditText":"Sean Rayford—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/science/","name":"Science"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/4528472/natural-disasters-climate-change/","name":"Cost of Natural Disasters Could Top $300 Billion by 2030, Report Says"}}]}] ```