Climate change may cut Pakistan’s GDP by 18pc to 20pc: WB

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Pakistan’s annual economic output could see a cut of 18 per cent to 20pc by 2050 due to climate change risks, according to a report recently published by the World Bank.

“The combined risks from the intensification of climate change and environmental degradation, unless addressed, will further aggravate Pakistan’s economic fragility; and could ultimately reduce annual GDP by 18pc to 20pc per year by 2050, based on the optimistic and pessimistic scenarios,” it said.

The report stated that between 6.5pc and 9pc of GDP will likely be lost due to climate change (in the optimistic and pessimistic scenarios, respectively) as increased floods and heatwaves reduce agriculture and livestock yields, destroy infrastructure, sap labor productivity, and undermine health.

Additionally, water shortages in agriculture could reduce GDP by more than 4.6pc, and air pollution could impose a loss of 6.5pc of GDP per year.

The report highlighted that the use of water for non-agricultural purposes was likely to significantly increase with climate change.—APP

 

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