A World Bank Group report reveals that 1.2 billion people globally are exposed to severe climate hazards like heatwaves, floods, hurricanes, and drought. Titled "Rising to the Challenge: Success Stories and Strategies for Achieving Climate Adaptation and Resilience," the report emphasizes the need for faster, sustainable economic development and targeted climate adaptation to mitigate these impacts.
According to the report, countries that grow economically and invest in resilience can reduce the number of highly vulnerable people. A 10 percent increase in GDP per capita could help 100 million people escape severe climate threats. However, it stresses the need for climate-informed policies tailored to each country’s conditions. Wealthier nations should upgrade existing infrastructure while developing countries have an opportunity to build climate-resilient systems from the beginning.
Axel van Trotsenburg, World Bank's Senior Managing Director, stated, “The threat of climate change affects all nations but is especially severe for the world’s poorest. Our focus is on fortifying food systems, water resources, and biodiversity while enhancing social safety nets.”
The World Bank Group’s climate action includes protecting more communities from climate hazards, supporting countries to develop early warning systems, improving access to insurance for communities and businesses threatened by climate shocks, and establishing healthcare systems for rapid crisis response. For the first time, the World Bank Group is measuring progress on these climate interventions as part of a new Corporate Scorecard, which will act as a yardstick of accountability and measure how it delivers on its mission to end extreme poverty and boost shared prosperity on a livable planet.
In addition, through its Country Climate and Development Reports, the World Bank is assisting over 60 nations in identifying climate risks and implementing solutions, helping communities secure vital development gains and adapt to climate challenges.