Opinion: Modernizing Infrastructure Needed to Cope with Climate Change
One of the biggest threats to a thriving world today is that the world’s poorest people face disproportionate risk from climate change. The World Bank’s Turn Down the Heat report notes that climate change threatens to erode progress made on reducing poverty, while a Stanford study reveals that global incomes for 2100 could be 23 percent lower than they would be in a world without climate change.
While it is sobering that over the past 30 years one dollar out of every three spent on development has been lost as a result of coastal storms and civil conflict, among other shocks and stresses, the long-term impact of lower incomes relates to shrinking global markets and thus has impact on economies around the world.
For leaders working on development issues in least-developed and lower-income countries, these trends call for more resources to support climate adaptation, such as improving water security through conservation and modernizing infrastructure to withstand extreme storms.