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Journal of Environmental Accounting and Management
António Mendes Lopes (editor), Jiazhong Zhang(editor)
António Mendes Lopes (editor)

University of Porto, Portugal


Jiazhong Zhang (editor)

School of Energy and Power Engineering, Xi'an Jiaotong University, Xi'an, Shaanxi Province 710049, China

Fax: +86 29 82668723 Email:

Tornado Property Loss Scale: Up to $8 Billion by 2025. Classification, Dependence, and Prediction of Tornado Events in the U.S.

Journal of Environmental Accounting and Management 10(2) (2022) 127--142 | DOI:10.5890/JEAM.2022.06.002

Thilini Mahanama, Dimitri Volchenkov

Department of Mathematics \& Statistics, Texas Tech University, Lubbock TX 79409-1042, USA

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The National Oceanic and Atmospheric Administration reports that the U.S. annually sustains about 1,300 tornadoes. Currently, the Enhanced Fujita scale is used to categorize the severity of a tornado event based on a wind speed estimate. We propose the new Tornado Property Loss scale (TPL-Scale) to classify tornadoes based on associated damage costs. The dependence between the tornado affected area and the associated property losses vary strongly over time and location. The overall tornado damage costs forecasted by a trained long short-term memory network trained on historical data might reach \$8 billion over the next five years although no systematic increase in the number and cost of disasters is observed over time.


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