According to the World Bank, by the end of the current decade, South Asian countries, including India, Afghanistan, Pakistan, Bangladesh, Nepal, Sri Lanka, the Maldives and Bhutan, will incur $160 billion in annual costs due to global warming. , reflects the News Click portal.
The financial institution calculates that in the next three decades this geographic region will see at least 40 million climate migrants.
A study by the environmental group German Watch, which focused on the first two decades of the century, revealed that three of the top 10 countries with a long-term climate risk index belong to South Asia, Bangladesh, Pakistan and Nepal, while India and Afghanistan. Among the next ten countries.
The impact is exacerbated in India, which in 2021 suffered 19 climate shocks, while Asia suffered 174 in total.
Catastrophic floods in Pakistan this year affected 33 million people, while massive floods displaced and destroyed the livelihoods of hundreds of thousands of people in Bangladesh and northeastern India.
Because of the devastating floods, Pakistan needs about $16 billion for reconstruction, said Thomas Michael Kerr, South Asia climate specialist at the World Bank Group.
South Asian countries are experiencing extreme heat waves, cyclones, droughts and floods, and the scale and frequency of these extreme events are testing the limits of governments, businesses and citizens in adapting to this new normal.
The World Bank says climate change could significantly reduce the living conditions of 800 million people in a region that has some of the world’s poorest and most vulnerable populations.
Climate activists and experts are waiting for the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 27), in the Egyptian city of Sharm el-Sheikh, to find more sustainable solutions for those affected and there is particular concern about the promises of the 2015 Paris Agreement.
But the global climate finance target, promised by developed countries of $100 billion annually from 2020, has not been fully met.
In recent years, the most vulnerable countries have talked about creating the Loss and Damage Fund, as they have incurred huge losses from natural disasters as a result of climate change, and after adaptation or mitigation, rehabilitation of those affected requires large sums of money.
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