CLIMATE change could reduce Fiji’s GDP by 3 to 7 per cent by 2050 if immediate climate action plans are not implemented.
This according to the newly released World Bank Group Country Climate and Development Report, which highlighted that Fiji’s core climate risks were mainly caused by infrequent disasters that set back the economy.
While presenting the report at the pre-COP31 Summit climate finance session in Nadi yesterday, World Bank Group lead economist for PNG and Pacific Islands Ralph Van Doorn said Fiji’s ambitious renewable energy plans faced increasingly frequent storms.
“Category 5 cyclones, such as Tropical Cyclone Winston, are expected more often when they were perhaps expected two decades ago to occur every 101 years, in the future they could occur every 47 years.
“A drought strike on Fiji’s tourism hub in Nadi could cause damage of 25 per cent greater than TC Yasa.
“So building resilience is essential.”
He explained that adaptation tests outlined in the report revealed Fiji’s investments in mitigating climate risks could offset at least one-third of the expected GDP losses and more than half of household consumption losses.
“Now, resilience is also good for jobs.
“We estimate that in Fiji, adaptation measures through 2030 could generate about 5300 jobs and mainly in construction and biosecurity services.
“But it’s not only that.
“When roads, airports, hotels cannot operate, workers and suppliers lose income.”
Mr Doorn added that investment in clean energy and transport, specifically focused on the decarbonisation agenda, would also create additional jobs in the energy and manufacturing sectors.
According to the report, most of the jobs likely to be created would be relatively low-paid, suggesting a potential knock-on impact on vulnerable populations.
The report also revealed that more than 2000 jobs could be lost in the private services industry by 2030 because of climate change.
