Report finds economic growth, building resilience to climate change go hand-in-hand, estimating 10% rise in GDP per capita will reduce vulnerable people by 100M
The World Bank Group said in a report released on Thursday that 1.2 billion people are at high risk from climate change worldwide.
People "face life-changing risks through exposure to at least one critical climate hazard, such as heatwaves, flooding, hurricanes, and drought," said the report, rising to the Challenge: Success Stories and Strategies for Achieving Climate Adaptation and Resilience.
The report found that economic growth and building resilience to climate change go hand-in-hand, estimating that a 10% increase in GDP per capita will reduce the number of people who are most vulnerable by about 100 million.
"Improving income is, therefore, important, but countries also need to enact a range of climate-informed policies to build people's resilience," it added.
The international organization advised that wealthier countries should prioritize upgrading their existing infrastructure, while lower-income countries have an opportunity to build it sustainably from the outset.
"The sobering reality is that every country can be hit by climate change, but this challenge is gravest for the world's poorest countries," said Axel van Trotsenburg, senior managing director at World Bank.
"That's why the World Bank Group is working to better prepare people for climate shocks by doubling our efforts on food and agriculture, water, ecosystems and biodiversity, infrastructure, social safety nets, poverty eradication, and livelihoods," he added.
The World Bank Group said its climate action includes protecting more communities from climate hazards, supporting countries to develop early warning systems, improving access to insurance for communities and businesses threatened by climate shocks, and establishing health care systems for rapid crisis response.
