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Climate change will put assets worth $158 trillion at risk by 2050: Report

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The World Bank-managed Global Facility for Disaster Reduction and Recovery said in a report that a rapid rise in climate change-related natural disasters will put 1.3 billion people and assets worth $158 trillion at risk by 2050, The Guardian reports.

The report said that the annual cost of natural disasters in 136 coastal cities is likely to increase to $1 trillion in 2070 from $6 billion in 2010.

The report urged for better planning of cities and preventative action, saying that exposure to such disasters is increasing rapidly.

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