GLOBAL INFRA LOSSES $300B A YEAR TO CLIMATE CHANGE

Limited investment in low-income countries widens infrastructure gaps, hampers development, stalls SDGs, and strains service resilience due to climate change

The Coalition for Disaster Resilient Infrastructure (CDRI) has recently released a comprehensive biennial report that sheds light on the critical challenges currently facing global infrastructure. This report emphasizes the detrimental effects of climate change and the setbacks caused by the COVID-19 pandemic, highlighting the urgent need for comprehensive and sustainable solutions.

The COVID-19 pandemic has left a lasting impact on global progress toward achieving the Sustainable Development Goals (SDGs). Notably, the report points out that the pandemic has either halted or even reversed advancements in several critical areas, exacerbating the challenges faced by countries, especially those with limited resources.

One of the most pressing issues identified in the report is the significant infrastructure deficit faced by nations worldwide. This deficit not only hampers social and economic development but is also exacerbated by poor-quality infrastructure and deficiencies in infrastructure governance. Furthermore, existing infrastructure is often ill-suited to address the growing threats posed by climate change and the rapid pace of technological advancements.

The report underscores the alarming impact of climate change on global infrastructure. It reveals that the annual average loss (AAL) in principal infrastructure sectors due to disasters and climate change currently ranges from USD 301 to USD 330 billion. However, when health and education infrastructure and building stock are factored in, this range expands to USD 732 to USD 845 billion.