An aerial photo taken on July 26, 2021, shows a flooded area in Weihui, Xinxiang city, in China’s central Henan province. Photo: AFP
An aerial photo taken on July 26, 2021, shows a flooded area in Weihui, Xinxiang city, in China’s central Henan province. Photo: AFP
Insurance

Climate change: China’s cost for urban flooding could jump six-fold to US$477 billion a year, says Morgan Stanley

  • Urban flood damage could cost China US$77 billion in 2030 and more than six times that in 2080 due to climate change, Morgan Stanley analysts say
  • Investors have not priced in these risks sufficiently, with only a fraction of companies reporting climate risks and opportunities

An aerial photo taken on July 26, 2021, shows a flooded area in Weihui, Xinxiang city, in China’s central Henan province. Photo: AFP
An aerial photo taken on July 26, 2021, shows a flooded area in Weihui, Xinxiang city, in China’s central Henan province. Photo: AFP
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