Islamabad: The World Bank Group’s Country Climate and Development Report (CCDR) for Pakistan released this week concludes that the country needs fundamental shifts in its development path and policies, requiring substantial investments in people-centric climate adaptation and resilience, that will require international support.
This year’s heatwave and devastating floods are a reminder that climate change-induced disasters can significantly set back Pakistan’s development ambitions and its ability to reduce poverty.
These disasters have caused more than 1,700 deaths and displaced more than 8 million people. The damage to infrastructure, assets, crops, and livestock has also been massive, with more than $30 billion in damages and economic losses.
"The recent flooding and humanitarian crisis provide a wake-up call for urgent action to prevent further devastation to the people of Pakistan and its economy due to climate change," said Martin Raiser, World Bank Vice President for South Asia, in a media release on Thursday.
"Accelerated climate actions can protect the economy from shocks and secure more sustainable and inclusive growth in Pakistan," Raiser added.
The CCDR notes that the combined risks of extreme climate-related events, environmental degradation, and air pollution are projected to reduce Pakistan’s GDP by at least 18 to 20% by 2050.
This will stall progress on economic development and poverty reduction.
Pakistan is not a significant contributor to global warming, but it is on a high-growth trajectory of carbon emissions linked to fossil fuel use.
This is also a source of the country’s chronic fiscal stress and worsening air pollution.
Therefore, climate actions that bring co-benefits to both adaptation and mitigation and contribute to improving development outcomes should have the highest priority.
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