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94 India Insurance Report - Series II
Figure 4 - CO concentration in the atmosphere [4,5] since 2000; Data - Global Monitoring Laboratory (GML)
2
of the National Oceanic and Atmospheric Administration (NOAA)
Sea level rise is another significant impact of climate change. The rise in sea levels is caused by the
melting of glaciers and ice caps, thermal expansion of seawater, and melting of the polar ice caps. Sea
level rise has the potential to cause flooding in coastal areas, leading to property damage and displacement
of local populations. Additionally, sea level rise can cause saltwater intrusion into freshwater resources,
leading to the loss of agricultural land and reduction of freshwater availability in coastal areas.
The increase in weather-related natural disasters such as hurricanes, floods, and droughts is also
attributed to climate change. The frequency and intensity of these events have increased in recent years,
leading to significant economic losses (Fig 5) and loss of life. These events are caused by the increase in
temperature anomalies, which lead to changes in atmospheric conditions such as increased precipitation,
changes in wind patterns, and the formation of tropical storms.
Figure 5 - Global Economic Losses due to Natural Disasters (2022 $ bn); Data – Aon Natural Disaster Dataset [6]
