A study of the World Bank  estimates that losses in terms of well-being are significantly higher than actual asset losses experienced . A higher proportion of the global absolute economic losses occurred in high-income countries. About 56% of all disasters reported occurred in high-income countries, while the low-income countries account for 44% of the recorded disasters. However, low-income countries account for about 68% of the total deaths reported, high-income countries for about 32% . In contrast, average absolute economic losses6 were significantly lower in most vulnerable countries compared to low vulnerable countries . Economic loss trends from EM-DAT database  must be interpreted with caution. Economic loss data is often incomplete and needs to be improved. However, these differences in terms of economic losses can also be explained in part by the significant wealth differences and the monetary value of assets exposed. Consequently, there is a need to critically reflect on the measures used to assess L&D from climate change. Interestingly, the number of people affected by droughts, floods and storms as a percentage of the total population and per hazard event again points to the disproportionate suffering of most vulnerable countries .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report