Bangladesh could lose a third of agricultural GDP due to climate effects by 2050, can raise up to $12.5b in addl financing for climate action: WB

[Black_cats]

Bangladesh could lose a third of agricultural GDP due to climate effects by 2050: WB​

FE ONLINE REPORT | Published: October 31, 2022 14:28:12 | Updated: October 31, 2022 17:16:31

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Representational image — Collected

One-third of agricultural GDP could be lost in Bangladesh due to climate variability and extreme events by 2050, the World Bank has said in a report.

Average tropical cyclones cost Bangladesh about $1 billion annually, and over 13 million people could become internal climate migrants in Bangladesh by 2050, it said.

Without action, climate change impacts could shrink cropland by 18 per cent in southern Bangladesh, according to the report titled "Bangladesh Country Climate and Development Report (CCDR)", a new diagnostic report that integrates climate change and development considerations, launched by the World Bank Group in Dhaka on Monday.

The WB report noted that 13.3 million people may become internal migrants in the next 30 years due to climate impacts on agriculture, water scarcity, and rising sea levels, with higher impacts on women.

In case of severe flooding, GDP could fall by as much as 9 per cent. The costs of environmental degradation and natural disasters are predicted to rise over time, compounded by higher heat, humidity, and health impacts, the report added.
Bangladesh will need at least $12.5 billion, approximately 3 per cent of GDP in the medium term for climate action, according to the WB projection.

The financing gap can be partially covered through additional funds from budget prioritization, carbon taxation, external financing, and private investment. It will be critical to address immediate and urgent challenges for climate change and development, the report added.

"Bangladesh has led the way in adaptation and disaster risk management. Over the past 50 years, it has reduced cyclone-related deaths 100-fold. Other countries can learn from this," Martin Raiser, World Bank Vice President for South Asia, said.

But with ever-increasing climate risks, further adaptation efforts are vital, and a low-carbon development path is critical to a resilient future for Bangladesh, Raiser added.

Bangladesh has demonstrated global best practices in disaster risk management and is a voice for climate-vulnerable countries.

Bangladesh was among the first to develop a Climate Change Strategy and Action Plan in 2009, which has become a blueprint for other climate-vulnerable nations.

The government has put in place a series of proactive policies and investments that strengthen resilience against climate-related disasters, leveraging community-led action.

This has led to the development of coastal embankment systems that protect over 6,000 km of vulnerable coastline and an early warning system for cyclones with more than 76,000 volunteers. But more needs to be done.

nsrafsanju@gmail.com

Bangladesh could lose a third of agricultural GDP due to climate effects by 2050: WB

One-third of agricultural GDP could be lost in Bangladesh due to climate variability and extreme events by 2050, the World Bank has said in a report. Average tropical cyclones cost Bangladesh about $1 billion annually, and over 13 million people could become internal climate migrants in...

thefinancialexpress.com.bd

 

[Black_cats]

Bangladesh can raise up to $12.5b in addl financing for climate action: WB report​

BSS
31 Oct 2022, 15:51
Update : 31 Oct 2022, 18:41

DHAKA, Oct 31, 2022 (BSS) - Bangladesh can raise up to $12.5 billion in additional financing in the medium-term for climate action with the financing options include budget prioritization, carbon taxation, external financing and private investment.

According to the World Bank Group's Country and Climate Development Report for Bangladesh released today, Bangladesh continues to face severe and increasing climate risks, despite significant gains in reducing the human toll from climate disasters.

The report said without urgent action, including further adaptation and resilience measures, the country's strong growth potential could be in risk.

The report outlines priority actions and financing needs to help Bangladesh address the climate crisis. It recognizes Bangladesh's successful experience with locally-led climate adaptation and recommends investments in infrastructure and services to strengthen climate resilience while supporting long-term growth.

Actions focused on improved agriculture productivity, energy and transport efficiency can lower future emissions while improving air, soil and water quality.

Climate change will hit poor and vulnerable people the hardest. Average tropical cyclones cost Bangladesh about $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.

"Bangladesh has led the way in adaptation and disaster risk management. Over the past 50 years, it has reduced cyclone-related deaths 100-fold. Other countries can learn from this," said Martin Raiser, World Bank Vice President for South Asia.

"But with ever-increasing climate risks, further adaptation efforts are vital, and a low-carbon development path is critical to a resilient future for Bangladesh," he added.

At just 0.4 percent, Bangladesh's current contribution to global greenhouse gas (GHG) emissions is not significant. But, with its large population and fast economic growth, if the country follows a 'business-as-usual' development pathway, GHG emissions will increase substantially.

Bangladesh also faces a high level of air pollution, which costs about 9 percent of GDP annually.

Improved air quality standards across multiple sectors will improve health and increase climate resilience. The country's 2021 Nationally Determined Contributions (NDCs) commit to reducing emissions by 21.8 percent by 2030. With strong implementation, technology development and uptake, and regional collaboration, Bangladesh can exceed these commitments.

"In the face of multiple severe risks from climate change, Bangladesh urgently needs to spur more private sector involvement not only to deliver the billions of dollars needed for climate action, but also to drive innovation and efficiency to benefit and protect the country's people," said John F. Gandolfo, IFC's Acting Regional Vice President for Asia and the Pacific.

The report highlights three priority areas for Bangladesh's climate-resilient growth and development:

People-centric, climate-smart development: A development approach that considers regional variations in climate impacts and builds on Bangladesh's experience of locally-led adaptation and small-scale solutions is vital.

Delivering development benefits with decarbonization: Emissions from energy, transport, industry, and agriculture can be reduced at relatively low cost and yield significant co-benefits related to air pollution, health costs, and jobs.

Enabling environment and institutional realignment: With a stronger legislative and institutional capacity, Bangladesh can accelerate the implementation of existing policies and programs. Empowering local governments to plan and implement adaptation programs will be important.

Some parts of Bangladesh are more prone to climate change impacts. Hence, investments should be prioritized for climate hotspots such as in the Barind, Coastal zone, Haor area, and Hill Tracts, and the regions facing higher poverty rates and natural hazards: the western upazilas of Mymensingh, eastern upazilas of Rangpur, and southern parts of Khulna division.

The report identifies high-impact interventions that are ready for implementation. This includes prioritizing and allocating financing for most urgent projects under the Bangladesh Delta Plan 2100, transforming food systems, implementing energy-efficient and circular economy solutions in ready-made garments and textile factories, setting resilient and energy efficient building standards, and mitigating emissions through tariff reforms and loss reduction.

The Bangladesh Delta Plan 2100 and Mujib Climate Prosperity Plan recognize these priorities.

"Bangladesh has taken bold steps toward its goal to support global efforts for combating climate change," said MIGA Executive Vice President, Hiroshi Matano.

At the report launch, the World Bank awarded the winners of the IdeaBuzz Championship, a youth competition seeking climate-smart solutions for inclusive growth in Bangladesh.

The competition had garnered huge interest, with participation from over 400 university students. The first, second, and third prizes were awarded to the students of the Islamic University of Technology, Bangladesh University of Engineering and Technology, and Institute of Business Administration, University of Dhaka respectively.

Bangladesh can raise up to $12.5b in addl financing for climate action: WB report | News Flash

DHAKA, Oct 31, 2022 (BSS) - Bangladesh can raise up to $12.5 billion in additional financing in the medium-term for

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[Turingsage]

Dont worry Bilal9 will make sure Bangladesh will have captured the territory of most of India by then and the poor Hindus will toil for the technologically most advanced Bangla nation

 

[bluesky]

Dont worry Bilal9 will make sure Bangladesh will have captured the territory of most of India by then and the poor Hindus will toil for the technologically most advanced Bangla nation

Someone should tell @Bilal9 that India helps BD by building Farakka and other dams that prohibits water to pass onto rivers downstream causing infiltration of salty seawater destroying our paddy.

This is how India sells $2.3 billion worth of cereals to BD.

 

[Destranator]

The farming lands predicted to lose fertility should not only be protected from flooding but also turned into industrial zones so that development is sped up rather than hampered.
As for the remaining farming lands, these should be brought under large scale, mechanised farming to mulitply yield.

 

[bluesky]

As for the remaining farming lands, these should be brought under large scale, mechanised farming to mulitply yield.

Yield is for a unit area of farmland, Bigha, Acre, or Hector. BD farmlands are already fragmented. No way, it can be reversed unless someone with money buys all his neighbors' land.

So, BD has to adopt policies to increase the yield to the level in Japan or Taiwan. Japan does not really use large tractors although many living in America thinks that way.

Japan has fragmented farmlands just like BD. And they use power tillers to cultivate and not tractors. But, BD has no factories that produce farm equipment like power tillers, paddy thrashing machines, rice milling machines, etc. All the Japanese farmhouses have a small rice milling machine and all other machines.

Without the use of power tillers by a farmer himself, there is little scope to increase the yield of anything agriculture. And unfortunately, no BD govt ever emphasized manufacturing these machines in the country.

I believe things will continue this way. Why? It is because neither the govt nor the opposition politicians ever talk about the necessity of producing these staffs locally. Imports enrich their pockets that are liked by their ugly wives.

 

[BananaRepublicUK]

Yield is for a unit area of farmland, Bigha, Acre, or Hector. BD farmlands are already fragmented. No way, it can be reversed unless someone with money buys all his neighbors' land.

So, BD has to adopt policies to increase the yield to the level in Japan or Taiwan. Japan does not really use large tractors although many living in America thinks that way.

Japan has fragmented farmlands just like BD. And they use power tillers to cultivate and not tractors. But, BD has no factories that produce farm equipment like power tillers, paddy thrashing machines, rice milling machines, etc. All the Japanese farmhouses have a small rice milling machine and all other machines.

Without the use of power tillers by a farmer himself, there is little scope to increase the yield of anything agriculture. And unfortunately, no BD govt ever emphasized manufacturing these machines in the country.

I believe things will continue this way. Why? It is because neither the govt nor the opposition politicians ever talk about the necessity of producing these staffs locally. Imports enrich their pockets that are liked by their ugly wives.

Big farms are going out of fashion because of the problems they cause.

Pests, for example, thrive on large areas covered with a single crop. It prevents bio diversity whereby a single dominant pest multiplies due to a lack of a predator.

Small farms are less prone to pests because varied crops creates a verity of wildlife with natural predators.

Water is another problem…variety of crops puts less pressure on water given different plant consume different amount of water.

France is dominated by small farms and dominate the world on quality food.

US, Australia, New Zealand, Brazil and Argentina supply the likes of McDonald’s

Btw, I avoid meat when I am in US given the chemicals these bastards use in their mega farms.