Photo Credit: NICOLAS ASFOURI / AFP / GETTY IMAGESIn the 1980s, the average annual cost of natural disasters worldwide was $50 billion. In 2012, Superstorm Sandy met that mark in two days. As it tore through New York and New Jersey on its journey up the east coast, Sandy became the second-most expensive hurricane in American history, causing in a few hours what just a generation ago would have been a year’s worth of disaster damage.

Sandy’s huge price tag fit a trend: Natural disasters are costing more and more money. See the graph below, which shows the global tally of disaster expenses for the past 24 years. It’s courtesy of Munich Re, one of the world’s largest reinsurance companies, which maintains a widely used global loss data set. (All costs are adjusted for inflation.)

In the last two decades, natural disaster costs worldwide went from about $100 billion per year to almost twice that amount. That’s a huge problem, right? Indicative of more frequent disasters punishing communities worldwide? Perhaps the effects of climate change? Those are the questions that Congress, the World Bank and, of course, the media are asking. But all those questions have the same answer: no.

When you read that the cost of disasters is increasing, it’s tempting to think that it must be because more storms are happening. They’re not. All the apocalyptic “climate porn” in your Facebook feed is solely a function of perception. In reality, the numbers reflect more damage from catastrophes because the world is getting wealthier. We’re seeing ever-larger losses simply because we have more to lose — when an earthquake or flood occurs, more stuff gets damaged. And no matter what President Obama and British Prime Minister David Cameron say, recent costly disasters are not part of a trend driven by climate change. The data available so far strongly shows they’re just evidence of human vulnerability in the face of periodic extremes.

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