International

Climate disasters to cost trillions more without prevention, UN warns

Natural disasters have led to real economic losses of up to $2.3 trillion—ten times higher than previously estimated direct costs—due to their cascading impacts and the widespread damage they inflict on ecosystems, according to a United Nations report released on Tuesday.

The study warns that these costs will continue to rise as the climate crisis worsens, with developing countries bearing the brunt. Many of these nations are forced to take on additional debt to cover emergency response and post-disaster recovery expenses.

The report emphasizes that decisions made today—especially concerning land-use planning, investment strategies, and energy systems—will play a decisive role in determining future risk exposure for communities worldwide.

Among the most alarming examples is the accelerated melting of the Thwaites Glacier in Antarctica. This could raise sea levels by more than half a meter, threatening coastal infrastructure valued at over $1.8 trillion.

Island nations like Kiribati and the Marshall Islands, as well as major coastal cities such as New York and Jakarta, are among those at serious risk, the report notes.

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Another consequence of more frequent and intense disasters is the rising cost of insurance premiums, shrinking coverage, and insurers pulling out of high-risk areas. In Australia, for example, more than half a million homes could become uninsurable by 2030 due to the growing flood risk.

Despite these escalating threats, the report shows that the majority of funding still goes toward emergency response. Of the $137 billion in disaster-related development assistance disbursed between 2005 and 2017, 96% went to relief, reconstruction, and recovery. Only 4%—around $5.2 billion—was invested in prevention and preparedness.

The report also highlights stark disparities: while North America incurred $69.57 billion in direct disaster losses in 2023, this only represented 0.23% of its GDP. In contrast, Micronesia’s $4.3 billion in losses amounted to a staggering 46.1% of its GDP.

“This reveals the disproportionate burden that disasters place on small and vulnerable economies,” the UN concluded.

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International

IEA warns Middle East conflict could spark worst energy crisis in decades

The ongoing conflict in the Middle East could trigger the worst energy crisis in decades, warned Fatih Birol, head of the International Energy Agency (IEA), who described the situation as “very serious.”

Speaking at the National Press Club in Canberra, Birol compared the current scenario to the oil crises of the 1970s, noting that during those events the world lost around five million barrels of oil per day in each crisis.

“Today, we have lost 11 million barrels per day—more than the two major oil shocks combined,” he said.

The Turkish economist referred to the conflict that began on February 28, following attacks by the United States and Israel against Iran, which have significantly disrupted global energy markets and driven oil prices higher.

Birol warned that the global economy is facing a “very, very serious threat” and expressed hope that the crisis will be resolved soon.

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“No country will be immune to the effects of this crisis if it continues in this direction. Global efforts are urgently needed,” he emphasized.

International

Colombian Air Force Hercules plane crashes during takeoff with troops onboard

A Lockheed C-130 Hercules operated by the Colombian Air Force was involved in a “tragic accident” while taking off from Puerto Leguízamo, in the Putumayo department of southern Colombia, as it was transporting troops, Defense Minister Pedro Sánchez reported on Monday.

The minister stated on social media that the exact number of victims and the causes of the crash have not yet been determined. He also extended his condolences to the families affected and urged the public to avoid speculation until official information is confirmed.

“This is a deeply painful event for the country. Our prayers are with the victims and their families,” Sánchez said, adding that emergency protocols have been activated and an investigation is underway.

Meanwhile, President Gustavo Petro expressed hope that there would be no fatalities in what he described as a “horrific accident that should not have happened.”

Petro also highlighted ongoing efforts to modernize the country’s air fleet and reiterated the need to acquire new helicopters and transport aircraft to strengthen military mobility, particularly in remote regions.

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According to local media reports, approximately 110 soldiers were on board the aircraft. So far, at least 20 injured military personnel have been rescued.

International

Paris prosecutors alert U.S. over alleged deepfake strategy linked to Elon Musk

The Paris Prosecutor’s Office said on Saturday that it had alerted authorities in the United States over suspicions that tech entrepreneur Elon Musk may have encouraged the spread of sexualized deepfake content on the social platform X to artificially boost the company’s valuation.

According to prosecutors, the controversy surrounding explicit AI-generated videos—reportedly linked to Grok, the platform’s artificial intelligence system—may have been deliberately triggered to increase the market value of X and X AI.

The office added that the alleged strategy could be tied to the planned June 2026 public listing of a new entity formed through the merger of SpaceX and X AI.

French authorities said they contacted the U.S. Department of Justice as well as legal representatives at the U.S. Securities and Exchange Commission (SEC) earlier this week to share their concerns.

Responding on X in French to a report about the case, Musk referred to French prosecutors using an offensive term.

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When contacted, X’s legal representative in France did not immediately comment.

Grok, the platform’s AI system, has its own account on X, allowing users to interact with it or request content generation. For a period, users were able to tag the bot in posts to generate or edit images, a feature that may have facilitated the spread of such material.