At least one million more people could fall into poverty due to climate shocks if urgent climate actions are not taken.
According to the World Bank’s new Country Climate and Development Report for Ghana, income could also reduce by up to 40% for poor households by 2050.
The analysis calls for pursuing a development pathway that builds resilience to climate change and fosters a transition to low-carbon growth through a combination of policies and public and private investments.
“Ghana’s economic and human development is vulnerable to climate change. On average, flooding affects around 45,000 Ghanaians every year, and half of Ghana’s coastline is vulnerable to erosion and flooding as a result of sea-level rise”.
Without prompt actions, the World Bank pointed out that the higher temperatures and heat stress will affect crop and labor productivity, whilst more erratic rainfall patterns will damage buildings and infrastructure.
Again land degradation, water insecurity and local air pollution will also hamper human capital and productivity.
The report said Ghana has achieved major development gains over the past three decades, but progress has slowed down.
The report further highlighted that the country has not fully managed to convert its natural wealth into sufficient infrastructure, human, and institutional capital for sustained growth.
“The report demonstrates that Ghana can simultaneously pursue its long-term development and climate goals,” said Pierre Laporte, World Bank Country Director for Ghana, Liberia, and Sierra Leone.
“Ghana’s contribution to global greenhouse gases emissions is small, with emissions on a per capita basis at 24% of the global average. The country can take a more resilient development pathway, avoiding costly lock-ins, leapfrogging to cutting-edge technologies, and starting to mobilize climate finance.”
The report identified six priority areas for a Climate Resilient and Low Carbon Development pathway that will foster greener, resilient, and inclusive growth in the country.