India, Dec. 27 -- Heatwaves, wildfires, droughts and storms caused more than $120 billion in economic losses worldwide in 2025, according to a new Christian Aid report, Counting the Cost 2025. The findings highlight the escalating financial and human toll of climate change, with fossil fuel expansion identified as a central driver of the crisis.

The report underscores that the cost of inaction is mounting, as communities around the world continue to bear the consequences of a crisis that could have been mitigated through urgent cuts in greenhouse gas emissions.

Christian Aid identified the 10 costliest climate-influenced extreme weather events of the year, each causing over $1 billion in damage. The Palisades and Eaton wildfires in Cali...