Number of billion-dollar weather disasters continues to grow

AUSTIN (KXAN) -- As 2024 comes to an end, there is more discussion about how much money weather disasters cost. There have been 24 disasters that cost at least $1 billion each in 2024, carrying a combined price tag of $61 billion.

These figures are lower than in 2023, when there were 28 of these billion-dollar disasters that cost a hefty $93 billion, according to the National Oceanic and Atmospheric Administration (NOAA).

However, not all of 2024's disasters have been finalized because NOAA is still working out the costs of both Hurricane Helene and Hurricane Milton. Climate Central's Shel Winkley suggests these two storms alone could add another $100 billion to the pot.

Our partners at Climate Central continue to theorize that our changing climate is responsible for the spike in disasters and their dollar amounts. Carbon pollution is still choking the atmosphere by trapping heat thus warming an already warm planet.

We have reported a few times that Earth passed the 1.5°C (34.7°F) 1.5 degrees that climate experts wanted to stay below.

Scientists suggest that anything above 1.5°C exceeds the global warming level which would lead to more severe and potentially irreversible impacts on our planet. This includes those extreme weather events that come with hefty price tags.