If 2021 was looked at then the floods frequency and the impact around the world has been largest. Earlier this impact was majorly felt in rural areas but the past few years especially last year and it has been impacting urban areas more.
Yes, it can be blamed on city planning or citizens' actions leading to drain blockage but from a financial impact, it is resulting n losses for both. The problem of flooding in urban areas is that power outages or life to normal takes much longer and hence resulting in an impact of economic loss.
This is one of the reasons that governments have been now more vocal about emissions reductions than ever as the risk of more frequent floods with larger economic impact is an assurance of the near future.
Various solutions are being applied and experimented with by governments throughout the world. But it will take a few years for the actual result from such practice to become noticeable.
It is estimated that floods in this season have caused more damage to supply chains, especially in China as many industrial zones near the overflowing dams were underwater for a long period resulting in machinery and output loss.
Such incidents occur when supply chains are already struggling and making product availability are more impactful than assessed by current models. There is a need for a quick remedy to be applied before next year's season as it creates even further stress on the fragile recovery.
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