A US regulator called for a review of the impact of climate change, citing the impact from extreme rainfall, such as in Grafton Illinois last week (AFP Photo/Michael B. Thomas)More

New York (AFP) – In the wake of renewed devastation from extreme weather in recent months, a top US financial regulator on Wednesday called for a comprehensive review of the risk posed by climate change.

Global losses from natural disasters reached $160 billion in 2018, above the 30-year average of $140 billion, and that poses a risk to financial markets as well, said Rostin Behnam, a commissioner on the US Commodity Futures Trading Commission.

“Our commodity markets and the financial markets that support them will suffer if we do not take action to mitigate the risk of

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