Top Posts
Climate activists seek operationalisation of loss and damage...
Experts say IPCC report calls for need to...
UNIDO partners with stakeholders to implement waste-to-wealth project
NGO urges Nigerians, incoming government to take action...
EU agrees deal with Germany in spat over...
Australia steps toward making big polluters reduce emissions
Denmark, Germany collaborate on hydrogen, energy systems integration
Flash floods kill 20 in Somalia
Berlin climate proposal fails to get enough yes...
Israel to face several extreme heat waves this...
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

Flash floods kill 20 in Somalia

March 27, 2023

Climate change fellows urged to support advocacy

March 26, 2023

Cyclone Freddy death toll passes 600 as calls...

March 25, 2023

South Africa accepts intergovernmental report on climate change

March 23, 2023

African countries consider swapping debt to invest in...

March 22, 2023

Telecoms Association requests increased access to renewable energy

March 22, 2023

Report: Somalia’s drought killed 43,000 last year, half...

March 21, 2023

Flood kills two in southwestern Cameroon

March 20, 2023

Global Stocktake: African climate negotiators seek balanced approach

March 15, 2023

Africa economy situation worsened by climate woes, UN...

March 15, 2023

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

  • UNIDO partners with stakeholders to implement waste-to-wealth project

    March 27, 2023
  • NGO urges Nigerians, incoming government to take action against climate change

    March 27, 2023
  • FEMA to visit FCT flood-ravaged areas

    March 27, 2023
  • NGO synergizes Benue govt to support communities combat climate change

    March 27, 2023
  • Group condemns indiscriminate dumping of plastics in water bodies

    March 26, 2023

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