WB warns of steep cost of climate change
If carbon dioxide emissions continue unabated throughout the 21st century, the costs from riverine flood damages and decreased agricultural and worker productivity due to the temperature increase will go up to 4 percent of the country's GDP per year by 2050, according to a new report by the World Bank. Currently, (2023) the cost is about 0.5 percent of GDP per year. If the emissions start declining by approximately 2045 and remain fairly constant for the next 50 years, then the cost can be capped at 2 percent. "Economic loss from flooding is anticipated to be severe," said the report, titled "Bangladesh Country Climate and Development Report", released by the WB yesterday. Current heat stress patterns are set to increase in severity, and extreme rainfall events are also likely to increase in magnitude. "Rainfall volume during extremely wet days and the frequency with which rainfalls occur are set to substantially increase," said the report. "This is especially the case in the northern divisions that are already facing the most severe precipitation events," it added.
India targets net-zero carbon emissions by 2070, says Modi
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
COP26: What climate summit means for one woman in Bangladesh
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Why China's climate policy matters to us all
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Deliver on promises, developing world tells rich at climate talks
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.