Bangladesh needs to take urgent climate action to avoid risking its growth potential: World Bank

Bangladesh needs to take urgent action including further adaptation and resilience measures to avoid risking its growth potential, says the World Bank in its Country and Climate Development Report for Bangladesh released on Monday. The report outlines priority actions and financing needs to help Bangladesh address the climate crisis.

Highlighting the impact of climate change, the report says that it will hit poor and vulnerable people the hardest. Average tropical cyclones cost Bangladesh about USD 1 billion annually. By 2050, a third of agricultural GDP could be lost and 13 million people could become internal climate migrants. In case of a severe flooding, GDP could fall by as much as 9 percent, says the report.

The air pollution in Bangladesh costs about 9 percent of GDP annually, says the World Bank report. By implementing policies that abate both air pollution and emissions, Bangladesh can reduce deaths from air pollution by half or save nearly 1 million lives within 2030.

Currently, the GreenHouse Gas (GHG) emissions in Bangladesh are not significant but it is likely to increase significantly if the country follows ‘business as usual’ development pathway.

World Bank Vice President for South Asia Martin Raiser pointed out that Bangladesh has led the way in adaptation and disaster risk management. Over the past 50 years, it has reduced the cyclone-related deaths 100 fold, said Martin Raiser but called for adoption of a low carbon development path for a resilient future for Bangladesh.

The World Bank recommended investments in infrastructure and services to strengthen climate resilience. The report called for action focused on improved agriculture productivity, energy and transport efficiency which can lower future emissions while improving air, soil, and water quality.