Tagged with “extreme” climate change risks, the Philippines landed ninth among countries most vulnerable to the impacts of climate change, but global economic output will mostly depend on the top 10 countries facing “high” and “extreme risks” from the impacts of climate change by 2025.
On its website, global risk analytics firm Maplecroft said that the world’s economic output “will be based” on the top 10 countries vulnerable to climate change by 2025, which is listed in the 2014 Climate Change Vulnerability Index (CCVI).
The index listed the 10 “growth countries” highly at risk to impacts of climate change which include Bangladesh being first, followed by Guinea-Bissau, Sierra Leone, Haiti, South Sudan, Nigeri, Congo, Cambodia and Ethiopia. The Philippines ranked ninth on the list.
In terms of cities, the global risk analytics firm identified five cities out of 50 cities studied worldwide with “high risk” from climate change impacts—Dhaka in Bangladesh; Mumbai and Kolkata in India; Thailand’s Bangkok; and Manila in the Philippines—while only two, London and Paris, were classified as “low risk.”
“With global brands investing heavily in vulnerable growth markets to take advantage of the spending power of rising middle-class populations, we are seeing increasing business exposure to extreme climate-related events on multiple levels, including their operations, supply chains and consumer base,” said James Allan, Maplecroft head of environment.
According to Maplecroft’s Climate Change and Environmental Risk Atlas, the 10 highly at-risk countries of climate change out of the 67 countries analyzed would increase about 50 percent on their current economic levels, and “more than double” since 2008, which will result in the 31-percent contribution in global economic output by 2025.
Other than the top 10 “growth economies” facing high risks from the impact of climate change, the atlas cited other notable growth countries at “extreme risk” from climate change: India at 20th spot; Pakistan at 24th; and Vietnam at 26th. There are also “high risk” growth countries following those with extreme risk which include Indonesia (38th), Thailand (45th), Kenya (56th) and China (61st).
By 2025, Maplecroft forecasts that China’s gross domestic product will total to $28 trillion, while India’s GDP is seen to reach $5 trillion—having 23-percent share to global GDP when combined.
The CCVI surveys and examines 67 countries worldwide and determines the countries’ capabilities of withstanding climate changes and their impacts.