Climate change hits the economy too, and harder in the South
admin September 17th, 2009
So now it’s official. The World Bank has spoken. Climate change is not just the cause of more extreme weather events, which hit developing countries disproportionately, it is also disproportionately damaging to them economically.
The World Development Report 2010, the Press edition of which has just been published, comments, “Warming of 2°C could result in a 4 to 5 percent permanent reduction in annual per capita consumption in Africa and South Asia, as opposed to minimal losses in high-income countries…It is estimated that developing countries will bear most of the costs of the damages—some 75–80 percent.”
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