Highlights:
- Pakistan’s GDP may decrease from 18% to 20% due to climate change.
- Climate-induced floods and heat waves badly affected agriculture and livestock
According to a report by the World Bank, Pakistan’s annual economic output, GDP (gross domestic product) could decrease from 18% to 20% by 2050 due to climate change.
GDP is the measure of the market value of all the services and goods produced and sold in a specific time interval by a country.
Pakistan’s GDP was $346.3 billion in 2021.
Increased Floods and Heatwaves
Increased floods, and heat waves as seen in recent years, have badly affected and reduced agriculture and livestock yields.
They have also destroyed valuable infrastructure, and labor productivity, and have put millions at health risk.
Additionally, water shortages in agriculture could reduce GDP by more than 4.6%, and air pollution could impose a loss of 6.5% per year.
Need for Urgent Action
The report added that climate change and environmental degradation unless addressed can further aggravate Pakistan’s economy.
6.5% and 9% of GDP will likely be decreased in both optimistic and pessimistic scenarios.
