World Bank: Global Warming Will Push 100 Million More People into Poverty by 2030

The World Bank warned on Monday that if proper policies to combat climate change and rising sea levels are not implemented, an additional 100 million people will be added to the world's poor population by 2030 due to global warming. According to Reuters, the World Bank states that ending poverty, which is one of the 17 new goals of the United Nations, will not be feasible without addressing global warming and its consequences for the world's poor. The institution adds that ambitious plans to limit the increase in global warming to two degrees Celsius must be implemented in a way that does not negatively impact the poor. In a part of its statement, the World Bank says, "Global warming harms the poor the most, and our main challenge is to prevent tens of millions from falling into absolute poverty." Currently, according to assessments by the World Bank and other international organizations, at least 900 million people worldwide live in poverty due to slow development progress, and the World Bank predicts that another 100 million may be added to this figure. John Roome, the World Bank's director for climate change, stated that global warming currently impacts the poor through reduced agricultural yields, severe floods that destroy people's property, and increased malaria risks. He noted that ending poverty and addressing climate change is the greatest challenge of the current generation. The World Bank report indicates that poor households suffer more from the effects of global warming than wealthy layers because their main assets are modest homes and vulnerable lands, neither of which are insured. The report warns that from now until 2030, environmental policies will have limited impact on preventing global warming, and therefore, investing in broader measures to enhance people's resilience to climate events is of utmost importance. The World Bank emphasizes that better social and health service networks for everyone, along with the implementation of projects such as improved flood barriers, warning systems, and the cultivation of more resilient crops, can somewhat reduce the damages caused by global warming for the poor over the next 15 years. John Roome stressed the need for prompt implementation of the right policies, stating that development plans worldwide must consider the factor of global warming to avoid damaging economic infrastructure in the future. Reuters adds that the World Bank warns in this report, released ahead of the United Nations climate change conference, that the world's ability to adapt to the relentless trend of global warming is very limited. The international United Nations conference, which aims to reach a global agreement on reducing greenhouse gas emissions, will begin on November 30 in Paris. The World Bank warns that to stop the impacts of this phenomenon on the spread of poverty, rapid actions must be taken to reduce greenhouse gas emissions to zero by the end of the 21st century. Some of these policies, such as cleaner and healthier air, increased energy efficiency, and improved public transportation networks, will benefit the poor. However, other policies may lead to increased energy and food prices, which are essential items in the budgets of poor households. The World Bank report adds that if these measures are properly planned and simultaneously supportive policies for the poor are implemented, combating global warming will not necessarily harm the poor. For example, savings from cutting fuel subsidies can be used to implement support programs for the poor against rising fuel prices. Alternatively, higher taxes on fuel consumption and carbon production can provide cash assistance to poor households. Additionally, the international community can help insure the assets of the poor, research the cultivation of more resilient crops, improve transportation networks, and enhance weather forecasting and warning systems.