Climate change 'hits economies'
The increasing number of natural disasters is putting pressure on world leaders to come to an agreement on climate change.
They meet later this month in South Africa to try hammer out a replacement to the Kyoto Protocol, which expires in 2012.
But many challenges lie ahead, and Henry Derwent, president of the International Emissions Trading Association, does not expect a deal to happen this year.
He says that although countries have pressing immediate financial issues to deal with, they should not ignore the economic impact of climate change.