If urgent climate action is not taken, at least one million more people may fall into poverty as a result of climate shocks.
According to the World Bank’s new Country Climate and Development Report for Ghana, poor households’ income could drop by up to 40% by 2050.
The analysis recommends pursuing a development path that fosters climate resilience and a transition to low-carbon growth through a combination of policies and public and private investments.
“Ghana’s economic and human development is vulnerable to climate change. On average, flooding affects around 45,000 Ghanaians every year, and half of Ghana’s coastline is vulnerable to erosion and flooding as a result of sea-level rise”.
Higher temperatures and heat stress, according to the World Bank, will affect crop and labor productivity, while more erratic rainfall patterns will damage buildings and infrastructure.
Land degradation, water scarcity, and local air pollution will all have an impact on human capital and productivity.
According to the report, Ghana has made significant development gains over the last three decades, but progress has slowed.
The report also stated that the country has not fully converted its natural wealth into adequate infrastructure, human, and institutional capital for long-term growth.
“The report demonstrates that Ghana can simultaneously pursue its long-term development and climate goals,” said Pierre Laporte, World Bank Country Director for Ghana, Liberia, and Sierra Leone.
“Ghana’s contribution to global greenhouse gases emissions is small, with emissions on a per capita basis at 24% of the global average. The country can take a more resilient development pathway, avoiding costly lock-ins, leapfrogging to cutting-edge technologies, and starting to mobilize climate finance.”
The report identified six priority areas for a Climate Resilient and Low Carbon Development Pathway in the country that will foster greener, more resilient, and inclusive growth.
Country Climate and Development Reports from the World Bank Group are new core diagnostic reports that investigate the relationship between climate change and development. They assist countries in prioritizing the most effective actions that can foster a low-carbon transition and boost resilience while meeting broader development objectives.
CCDRs are based on data and rigorous research to identify main pathways to reduce GHG emissions, their externalities, and climate vulnerabilities, as well as the costs and challenges of doing so.
