Climate-related extreme weather events cost the global economy more than $2 trillion over the past decade and the U.S. was the worst-affected nation, per a report published as leaders gather for the COP29 summit in Azerbaijan Monday.
Why it matters: The damage estimates in the Oxera report for the International Chamber of Commerce for 2014-2023 roughly equate to those of the 2008 global financial crisis and ICC secretary-general John Denton said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN.
Firefighters across the Northeastern U.S. are tackling a series of wildfires that are impacting air quality from New York City to Philadelphia during an abnormally dry fall.
The big picture: Much of the region is in drought and the National Weather Service warns dry and windy conditions "could lead to fires over portions of southern New England, upstate New York and northern New Jersey, where Red Flag Warnings and an Elevated Fire Weather Outlook" were in effect for Sunday.
