The United Nations Office for Disaster Risk Reduction (UNDRR) recently released a Global Assessment Report highlighting a dramatic surge of over 150% in annual direct disaster costs between the periods 1970-2000 and 2001-2020. A broader assessment of total economic losses, including indirect impacts, now exceeds an astonishing $2.3 trillion.

Despite these alarming numbers, the current trajectory of global climate action and disaster risk reduction foretells an even bleaker picture of the future. Currently, the........

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