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Global events
The impacts of extreme weather events are far-reaching, and they are felt particularly acutely in multicultural cities such as London, where many residents come from other parts of the world. LCCP recognises that global extreme weather events can impact on the wellbeing of Londoners and their families in a number of ways.
Extreme weather events and changes in climate around the world also have an impact on London’s financial wellbeing through impacts to supply chains and stock prices.
Recent examples include:
2018 – Summer heat across the northern hemisphere causes a loss of profits for tourism operators as heat keeps people from booking trips abroad. In the UK, food prices expected to rise as a result of the heat, after the extreme cold of the winter.
2016 – ABI estimates that insurers will pay £1.3 billion in claims following a series of storms and heavy rainfall in a record wet winter.
2011 – Hard Drive shortage impacts on computer manufacture and prices following the flooding in Thailand
2011 – Cotton production is damaged causing a 15% rise in prices within a month after flooding in Pakistan
2010 – Wheat prices rise by 50% within two months after severe drought and ensuing wildfires in Russia
2007/8 – Crop shortfalls from natural disasters was one of the contributing factors in the Global Food Crisis, which saw drastic increases in food prices
2003 – The heatwave in Europe caused major agricultural damages, totalling €13 billion in the European Union. This included a 10-20% decrease in wheat production in the UK and France
To see how the climate is changing on a global scale, you can visit the Met Office website.