Top Posts
US Senate approves bill to invest nearly $375bn...
US-funded trees ‘not likely to survive in Haiti...
Climate funding among African projects to be showcased...
Saudi Arabia to build an emissions-free city
Chinese companies demand global carbon market for green...
Report: Harsh weather threatens global Rice supplies
Expert says Africa needs to invest in technology...
FG restores 24,000 hectares of degraded land
Expert says Anambra headquarters of gully erosion in...
Turkish Airlines moves to tackle Climate Change
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
Africa

Report shows vulnerable countries lost $525 billion to climate change in 2 decades

by admineconai June 10, 2022
written by admineconai June 10, 2022

A new report released by the Vulnerable Twenty (V20) has shown that a total of 55 vulnerable countries have become poorer because of the debilitating effects of climate change.

The report by V20, a group of Finance Ministers from the Climate Vulnerable Forum, estimates that these countries have lost approximately $525 billion over the two decades due to climate change’s temperature and precipitation patterns.

The report which was presented on Thursday at an event on the sidelines of the ongoing talks on climate change held in Bonn, Germany with Ghana assuming leadership of the V20, established that climate change has eliminated one-fifth of the wealth of the V20 countries with primary evidence.

Read also: Report shows over $600 billion lost to flooding, storms in 3 years

The report indicates that the V20 would have been 20 per cent wealthier today if not for climate change and the losses it incurred for poor and vulnerable economies.

“The economic losses cut GDP growth in the V20 by one per cent each year on average, which averaged 3.67 per cent in 2019 across the vulnerable economies,” the report said.

It further showed that from 2000 to 2019, economic losses due to hydro-meteorological extreme events were higher than in the previous two decades even as the world’s most vulnerable economies are also not adapting fast enough to cope with the changing climate as it currently stands.

Story was adapted from Nigerian Tribune.

BillionsClimate changeLossVunerabilityYears
0 comment
0
FacebookTwitterPinterestEmail
admineconai

previous post
BoE says insurers, bankers need to do more to prepare for climate change
next post
Climate Change: 32 confirmed dead as torrential rains hit southern China

Related Posts

Climate funding among African projects to be showcased...

August 10, 2022

Expert says Africa needs to invest in technology...

August 7, 2022

UNECA seeks funds to mitigate climate change Impacts...

August 5, 2022

Museveni blames West for climate change

August 3, 2022

AfDB DG says Africa must rethink development climate...

July 27, 2022

CIDSE launches African Climate Dialogues

July 24, 2022

Delegates seek implementation of climate change resolutions

July 21, 2022

Egypt seeks improved action in combating climate change

July 21, 2022

African bishops to discuss impact of ecological damage

July 18, 2022

Analysis: Climate adaptation bill could dwarf health spending...

July 13, 2022

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Social Connect

Facebook Twitter Instagram Pinterest Youtube Snapchat Vimeo

Recent Posts

  • FG restores 24,000 hectares of degraded land

    August 7, 2022
  • Expert says Anambra headquarters of gully erosion in Africa

    August 6, 2022
  • Nigeria, World Bank moves to reduce desertification, environmental challenges

    August 6, 2022
  • 3-Year-Old killed as flood destroys 100 houses In Gombe

    August 3, 2022
  • Agbeloba Farms: A vision of modern farming threatened by climate change

    August 1, 2022

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World