CLIMATE CRISIS
New Climate Crisis Report: Invest $1.8 Trillion Now or Pay Heavier Price Later
Aerial view of Maldives. Low-lying atoll nations are especially threatened by climate change. Grafner / iStock / Getty Images Plus
The images of the climate crisis are devastating. People around the world, especially the world's poor, are suffering from extreme weather, droughts and wildfires. The latest example was in the wake of Hurricane Dorian, when Bahamans fleeing the wreckage that upended their lives were denied entry to the U.S.
Now a new report from a commission of 34 leaders in politics, scientists and business says that nations rich and poor must invest in adapting to the climate crisis or pay a much heavier price in years to come. Furthermore, an investment now will reap benefits that will outweigh the costs 4 to 1 in the near future, as Agence France Presse (AFP) reported.
Adapt Now: A Gobal Call for Leadership on Climate Resilience by the Global Commission on Adaptation was led by former UN Secretary-General Ban Ki-moon, World Bank chief executive Kristalina Georgieva and Microsoft co-founder Bill Gates.
'Global actions to slow climate change are promising but insufficient,' the report stated. 'We must invest in a massive effort to adapt to conditions that are now inevitable.'
It pinpointed several key areas to consider in adapting to the climate crisis. The analysis found that a $1.8 trillion global investment in five specific areas over the next decade could generate $7.1 trillion in total net benefits, as a United Nations press release stated.
The five key areas will produce a triple dividend — escaping future losses, generating economic gains through innovation, and delivering social and environmental benefits. The five areas of focus, as the BBC reported, are:
- Warning systems: For island and coastal communities, early warnings about storms, very high tides and other extreme weather can save lives.
- Infrastructure: Building better roads, buildings and bridges to suit the changing climate.
- Improving dry-land agriculture: Something as simple as helping farmers to switch to drought-resistant varieties of crops could protect livelihoods and prevent hunger.
- Restoring and protecting mangroves: Underwater mangrove forests protect about 18 million people from coastal flooding, but they're being wiped out by development. Restoration projects could protect vulnerable communities from storms and boost fisheries' productivity
- Water: Protecting water access - and making sure that water's not being wasted - will be vital in a changing climate.
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