affects everyone everywhere, but it’s potentially even more devastating for those in emerging markets who are less prepared for calamities and ill-equipped to rebuild after them. It’s also a potential impediment to the progress that nations in Africa, the subcontinent, and elsewhere are making.
Likewise, oceanic species unable to adapt to warming waters are dying, as are coral reefs around the world. This, in turn, affects local flora, which can also help trap carbon or remove carbon dioxide from the atmosphere, and increased COin the atmosphere only makes matters worse by making the oceans more acidic. This means anyone planning to visit the Great Barrier Reef is encouraged to do so soon, because it may not be there for much longer.
Climate change represents a threat to each of these — it can significantly affect customers’ income while also destroying assets used as collateral. Similarly, climate change affects industries such as agriculture, tourism, energy production and myriad other sectors, many of which also rely on financial institutions to raise debt.
Consequently, climate change also represents a sizable threat to Africa achieving its sustainable development goals or maintaining the progress towards them that it has managed to date. In 2019, Cyclone Idai destroyed 90% of the infrastructure of Beira in Mozambique, the country’s fourth-largest city and a hub for its energy production. Though Madagascar tends to shield Mozambique from tropical storms, they’re getting more intense and are increasingly forming in the Mozambique Channel.
Bullshit