{"id":6726,"date":"2019-11-21T11:05:21","date_gmt":"2019-11-21T08:05:21","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=6726"},"modified":"2026-01-11T05:30:42","modified_gmt":"2026-01-11T05:30:42","slug":"wealth-alone-wont-save-countries-from-climate-change","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/11\/21\/wealth-alone-wont-save-countries-from-climate-change\/","title":{"rendered":"Wealth Alone Won’t Save Countries From Climate Change"},"content":{"rendered":"\n

By Matthew Lavietes<\/strong><\/p>\n\n\n\n

Wealth\nalone will not shield economies from the impact of climate change, researchers\nsaid on Wednesday, urging governments to build flood defenses and early warning\nsystems to stem financial losses.<\/p>\n\n\n\n

Climate\nresearch has shown that poor people in tropical countries are most vulnerable\nto economic loss caused by global warming.<\/p>\n\n\n\n

But\ncountries that aggressively prepare for climate impacts like hurricanes and\nheatwaves will fare drastically better financially than others with similar\neconomies, according to a report by the Economist Intelligence Unit.<\/p>\n\n\n\n

For\nexample, by 2050, Russia’s economy will be 5% smaller than it would have been\nwithout the impact of climate change.<\/p>\n\n\n\n

Argentina,\nwhich has done more to prepare, will only contract by 2% despite having similar\nlevels of economic development, said the study.<\/p>\n\n\n\n

“Argentinean\nleadership recognizes that climate change represents a risk to Argentina’s\nlong-term growth rate, most obviously through its impact on the important\nagriculture sector,” said the report.<\/p>\n\n\n\n

It\nlinked Russia’s estimated losses to “widespread climate change scepticism\namong much of the Russian business community and a lack of broader public\nengagement”.<\/p>\n\n\n\n

Researchers\nlooked at the willingness and financial ability to confront climate change of\n82 countries with large economies.<\/p>\n\n\n\n

The\nglobal economy will contract by 3% with countries in North America faring the\nbest and countries in Africa the worst, it said.<\/p>\n\n\n\n

Despite\nrecent wildfires and hurricanes that have raised concerns about a warming\nplanet, the researchers said climate change would only cause the U.S. economy\nto contract by 1% by 2050.<\/p>\n\n\n\n

Since\n1980, the United States has suffered 241 weather and climate disasters costing\n$1 billion or more, at a cumulative cost of $1.6 trillion, the United Nations\nhas said.<\/p>\n\n\n\n

Only\nseven countries including Germany, South Korea and Lithuania scored better.<\/p>\n\n\n\n

“Despite\nthe absence of leadership at the national level in the U.S., cities and\ncertainly states are really moving ahead in combating climate change,”\nsaid David Miller, the North American director of the C40 network of cities\ntackling climate change.<\/p>\n\n\n\n

“Within\nthe U.S., once the federal government uses its authority, you’ll see even more\nprogress building on what cities and states are doing today.”<\/p>\n\n\n\n

Poorer\nnations – many in places where climate change effects are hitting the hardest –\nhave long demanded more financial support so they can build stronger homes,\nplant hardier seeds, put in irrigation and warn citizens of dangerous weather.<\/p>\n\n\n\n

Angola,\nAfrica’s second biggest oil exporter, is one of the developing economies set to\nbe hit the hardest.<\/p>\n\n\n\n

The\nWest African country has announced ambitious plans to fight climate change including\nimproving irrigation and pledging to cooperate with the United Nations.<\/p>\n\n\n\n

But\nthe country has failed to live up to its promises, researchers said. <\/p>\n\n\n\n

Read more>><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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