Investing in climate adaptation and resilience is not a cost; it is a powerful economic strategy that can generate trillions in global economic gains, create millions of jobs, and safeguard vulnerable countries like Bangladesh, according to a report released recently.
The report, ‘Returns on Resilience: Investing in Adaptation to Drive Prosperity, Growth and Competitiveness, was unveiled by a consortium of 20 organizations led by the international group Systemiq during the World Bank and IMF Annual Meetings in Washington, D.C.
It finds that every dollar invested in adaptation can yield returns equivalent to ten dollars. For countries like Bangladesh, strategic investment in climate resilience and adaptation now could protect the economy from future losses.
The analysis estimates that climate resilience investment could create 28 million new jobs across developing countries by 2035.
At the same time, the global adaptation market is projected to reach $1.3 trillion annually by 2030. Former UN Secretary-General Ban Ki-moon said, ‘Investing in climate resilience means protecting people and their livelihoods in the face of storms, heatwaves, and floods.
It is also an urgent economic imperative: building resilience ensures that hardwon development gains are not destroyed.
This is a call to world leaders to make resilience and adaptation the investment agenda of our time.’