This has caused an increase in the global average temperature — Earth has just experienced the hottest month in its history—, which in turn is changing weather patterns.
Although forest fires are a natural phenomenon, scientists affirm that the increase in temperature in the atmosphere is making these types of catastrophes worse.
“Climate change is causing global warming of the atmosphere, which has increased drying power,” said Yadvinder Malhi, Professor of Ecosystem Science at Oxford University.
“So the same fire that a few decades ago would have been moderate will now be more intense,” he said.
How much can the economic losses amount to?
According to the catastrophe analysis company Karen Clark & Company (KCC), it calculates that the total insured losses from the forest fires that occur on the island of Maui will be the second highest in the history of Hawaii.
The fire’s impact would only be comparable to Hurricane Iniki, which hit Hawaii in 1992, if current property values are considered, the KCC said in a note Friday.
The company estimates the total burned area to be about 2,200 acres, with approximately 3,500 buildings located within the fire perimeter.
Insurance broker Aon said the extreme devastation of homes, businesses and other structures in Lahaina could result in economic and insured losses of hundreds of millions of dollars.
As the situation continues, losses are likely to mount and major disruptions to Maui tourism, an important part of the local economy, in the near future, Aon said in its weekly catastrophe report.
With information from AFP and Reuters