World Bank Report on Climate Adaptation in South Asia
More than 60% of households and firms in South Asia have experienced extreme weather in the past five years, and over 75% expect this trend to continue into the next decade. The World Bank's report, From Risk to Resilience: Helping People and Firms Adapt in South Asia, highlights the urgency of climate adaptation in the region.
Key Findings
- The region faces a significant increase in extreme weather events, with nearly 90% of the population expected to be exposed to intense heat by 2030.
- By 2030, 462 million people (22% of the population) are projected to be at risk of severe flooding.
- Poor and agricultural households are disproportionately affected by weather shocks, which lead to human capital and asset damage and income losses.
Adaptation Measures and Challenges
- Approximately 80% of households and 63% of firms have taken adaptation measures, though most are basic, such as raising house foundations or installing fans.
- Advanced adaptation strategies, like using climate-resilient seeds or relocating, are less common.
- Households with access to early warnings take pre-emptive actions, but access remains uneven, especially for floods.
- Market barriers and financial constraints limit adaptation efforts, particularly for less-educated households and firms with regulatory obstacles.
Policy Recommendations
- Governments should enhance early warning systems and support targeted programs for vulnerable households.
- Improving access to information, strengthening managerial capabilities, and easing regulatory burdens can help firms adapt.
- Policies should remove market distortions and expand access to finance and public infrastructure to aid adaptation efforts.
- The report emphasizes the importance of promoting weather-indexed insurance and resilient technologies.
Conclusion
The report calls for comprehensive adaptation measures that align with long-term development goals. Effective adaptation requires functioning markets, accessible essential services, and supportive government policies. By empowering households and firms, South Asia can build resilience against climate risks, potentially reducing projected climate damage by one-third.
