We have long known that global warming causes more frequent and intense rainfall, but it has been difficult to quantify the contribution of climate change to storm damage. Now, according to a new study, we have a better idea; Stanford researchers have determined that a third of the financial damage caused by flooding in the US over the past 30 years- USD$75billion- can be attributed to excess rainfall caused by climate change. 

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Marshall Burke, associate professor of Earth system science at Stanford and a study co-author, says, “Accurately and comprehensively tallying the past and future costs of climate is key to making good policy decisions. This work shows that past climate change has already cost the US economy billions of dollars, just due to flood damages alone.”