Fiji’s financial losses due to climate change related disasters will be 50 percent higher by 2050 according to a new study.
Storms, floods and cyclones currently cause losses of around US$245-million annually.
The study released by the Fiji government and the World Bank at the COP23 climate change conference in Germany today uses new methods to assess risk and to develop adaptation plans.
A lead economist at the World Bank, Stephane Hallegatte, said the study developed for Fiji can now be used by other vulnerable nations.
“Of course other countries in the Pacific but also other developing countries that are facing the same type of issues. And what’s really important is to focus on solutions and not only on the impact,” he said.
He said on the current course over 32,000 Fijians annually will be driven into poverty by 2050 compared to 26,000 currently.
Fiji hold the presidency of the COP23 climate talks currently under way in Bonn.
Pacific island climate change campaigners hold a traditional Fijian sevusevu and offer tapa to a community impacted by a massive coal mine in Germany. Photo: Facebook /radionz