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Los Angeles Fires Lead to Over $200 Billion in Losses, Potentially the Most Expensive Wildfire Event in U.S. History

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15 Jan, 2025

This post was originally published on Eco Watch

As deadly wildfires continue to blaze around greater Los Angeles, the economic cost of the fires has now been estimated to be over $200 billion. That has made this tragedy, which started on January 7, potentially the most expensive wildfire event in U.S. history.

At least 24 people have died as of the time of writing, according to CBS News.

As Earth.org reported, the fires have already burned around 40,000 acres and counting, totaling an amount of land larger than San Francisco. More than 12,300 structures have been destroyed.

Of the five major fires burning in the Los Angeles area in early January, three are still active. The Hurst fire has burned 799 acres and is 97% contained at the time of writing. The Eaton fire has burned 14,117 acres of the Altadena and Pasadena areas and is currently 35% contained. The largest of the five fires, the Palisades fire, has burned ‎23,713 acres and is 17% contained as of 8 a.m. PT on Tuesday, January 14, according to data available from CAL FIRE.

Map of active LA fires on Jan. 14, 2025. California Department of Forestry and Fire Protection

Official estimates of the damage have yet to be released; however, AccuWeather meteorologists have estimated the cost of these wildfires to be between $250 billion and $275 billion, an increase from the company’s initial estimates of $135 billion and $150 billion.

“These fast-moving, wind-driven infernos have created one of the costliest wildfire disasters in modern U.S. history,” AccuWeather chief meteorologist Jonathan Porter said in a statement. “Hurricane-force winds sent flames ripping through neighborhoods filled with multi-million-dollar homes. The devastation left behind is heartbreaking, and the economic toll is staggering.”

The Palisades fire burned through a high cost of living area, where homes have a median value of more than $2 million, according to Porter.

“Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss,” Porter added.

However, the economic damage does not just include the cost of multimillion dollar homes, but also lost businesses, relocation costs, job losses and emergency and long-term healthcare costs for fire-related injuries and exposure to poor air quality from the smoke.

“Tragically, lives have been changed forever in just a matter of minutes. Many families may not be able to afford to rebuild or repair and return. Businesses may not be able to recover, and jobs will be permanently lost. Thousands of people are in desperate need of help, initially the basic and life-sustaining needs of food, water and shelter, as this tragedy unfolds,” Porter said. “Many families will face significant unexpected costs to relocate to another area in Southern California. The recovery process will be extremely expensive and emotionally challenging in the months and years to come.” 

AccuWeather is not alone in its prediction that this will be the costliest wildfire event in U.S. history. Aon PLC, an insurance broker, and Moody’s, a data analytics company, both echoed the sentiment, although they did not provide cost estimates, The Associated Press reported.

The Los Angeles wildfires are expected to cost at least $20 billion in insured losses, Reuters reported. This would cause these fires to surpass the previous most costly wildfire, the 2018 Camp Fire in Butte County, California, which killed 85 people and cost $12.76 in insured losses.

Residents now fear a worsening housing crisis in the greater Los Angeles area, as rental prices have already started spiking despite a law preventing price increases of more than 10% for housing, food, medical supplies and other essentials during emergencies. As LAist reported, Zillow listings in Los Angeles were found to increase by 15% to 64% in the wake of the fires.

“It will put a squeeze, especially on the adjacent communities,” Michael Lens, a professor of urban planning and public policy at University of California, Los Angeles, told LAist. “That might be particularly acute from the Palisades effect on the Westside.”

The post Los Angeles Fires Lead to Over $200 Billion in Losses, Potentially the Most Expensive Wildfire Event in U.S. History appeared first on EcoWatch.

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Taking the electronic pulse of the circular economy

Taking the electronic pulse of the circular economy

In June, I had the privilege of attending the 2025 E-Waste World, Battery Recycling, Metal Recycling, and ITAD & Circular Electronics Conference & Expo events in Frankfurt, Germany.

Speaking in the ITAD & Circular Electronics track on a panel with global Circular Economy leaders from Foxway Group, ERI and HP, we explored the evolving role of IT asset disposition (ITAD) and opportunities in the circular electronics economy.

The event’s focus on advancing circular economy goals and reducing environmental impact delivered a series of insights and learnings. From this assembly of international expertise across 75+ countries, here are some points from the presentations that stood out for me:

1. Environmental impact of the digital economy

Digitalisation has a heavy material footprint in the production phase, and lifecycle thinking needs to guide every product decision. Consider that 81% of the energy a laptop uses in its lifetime is consumed during manufacture (1 tonne in manufacture is equal to 10,000 tonnes of CO2) and laptops are typically refreshed or replaced by companies every 3–4 years.

From 2018 to 2023, the average number of devices and connections per capita in the world increased by 50% (2.4 to 3.6). In North America (8.2 to 13.4) and Western Europe (5.6 to 9.4), this almost doubled. In 1960, only 10 periodic table elements were used to make phones. In 1990, 27 elements were used and now over 60 elements are used to build the smartphones that we have become so reliant on.

A key challenge is that low-carbon and digital technologies largely compete for the same minerals. Material resource extraction could increase 60% between 2020 and 2060, while demand for lithium, cobalt and graphite is expected to rise by 500% until 2050.

High growth in ICT demand and Internet requires more attention to the environmental footprint of the digital economy. Energy consumption of data centres is expected to more than double by 2026. The electronics industry accounts for over 4% of global GHG — and digitalisation-related waste is growing, with skewed impacts on developing countries.

E-waste is rising five times faster than recycling — 1 tonne of e-waste has a carbon footprint of 2 tonnes. Today’s solution? ‘Bury it or burn it.’ In terms of spent emissions, waste and the costs associated with end-of-life liabilities, PCBAs (printed circuit board assembly) cost us enormously — they generally achieve 3–5% recyclability (75% of CO2 in PCBAs is from components).

2. Regulating circularity in electronics

There is good momentum across jurisdictions in right-to-repair, design and labelling regulations; recycling targets; and voluntary frameworks on circularity and eco-design.

The EU is at the forefront. EU legislation is lifting the ICT aftermarket, providing new opportunities for IT asset disposition (ITAD) businesses. To get a sense, the global market for electronics recycling is estimated to grow from $37 billion to $108 billion (2022–2030). The value of refurbished electronics is estimated to increase from $85.9 billion to $262.2 billion (2022–2032). Strikingly, 40% of companies do not have a formal ITAD strategy in place.

Significantly, the EU is rethinking its Waste Electrical and Electronic Equipment (WEEE) management targets, aligned with upcoming circularity and WEEE legislation, as part of efforts to foster the circular economy. A more robust and realistic circularity-driven approach to setting collection targets would better reflect various factors including long lifespans of electronic products and market fluctuations.

Australia and New Zealand lag the EU’s comprehensive e-waste mandated frameworks. The lack of a systematic approach results in environmental degradation and missed positioning opportunities for businesses in the circular economy. While Australia’s Senate inquiry into waste reduction and recycling recommended legislating a full circular economy framework — including for imported and local product design, financial incentives and regulatory enforcement, New Zealand remains the only OECD country without a national scheme to manage e-waste.

3. Extending product lifecycles

Along with data security and digital tools, reuse was a key theme in the ITAD & Circular Electronics track of the conference. The sustainable tech company that I lead, Greenbox, recognises that reuse is the simplest circular strategy. Devices that are still functional undergo refurbishment and are reintroduced into the market, reducing new production need and conserving valuable resources.

Conference presenters highlighted how repair over replacement is being legislated as a right in jurisdictions around the world. Resources are saved, costs are lowered, product life is extended, and people and organisations are empowered to support a greener future. It was pointed out that just 43% of countries have recycling policies, 17% of global waste is formally recycled, and less than 1% of global e-waste is formally repaired and reused.

Right to repair is a rising wave in the circular economy, and legislation is one way that civil society is pushing back on programmed obsolescence. Its global momentum continues at different speeds for different product categories — from the recent EU mandates to multiple US state bills (and some laws) through to repair and reuse steps in India, Canada, Australia and New Zealand.

The European Commission’s Joint Research Commission has done a scoping study to identify product groups under the Ecodesign framework that would be most relevant for implementing an EU-wide product reparability scoring system.

Attending this event with the entire electronic waste recycling supply chain — from peers and partners to suppliers and customers — underscored the importance of sharing best practices to address the environmental challenges that increased hardware proliferation and complex related issues are having on the world.

Ross Thompson is Group CEO of sustainability, data management and technology asset lifecycle management market leader Greenbox. With facilities in Brisbane, Sydney, Melbourne, Canberra, Auckland, Wellington and Christchurch, Greenbox Group provides customers all over the world a carbon-neutral supply chain for IT equipment to reduce their carbon footprint by actively managing their environmental, social and governance obligations.

Image credit: iStock.com/Mustafa Ovec

Renewables Helped Prevent Blackouts on New England’s Hottest Day This Summer

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The post Renewables Helped Prevent Blackouts on New England’s Hottest Day This Summer appeared first on EcoWatch.

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