Climate crisis will have huge impact on Africa’s economies, study says

Climate crisis will have huge impact on Africa’s economies, study says

African countries, which are the least responsible for the global climate crisis, face seeing their GDP growth rate fall by up to 64% by the end of the century, according to research – even if the world succeeds in limiting global heating to 1.5C.

As world leaders hustle over climate action at the UN summit in Egypt, a study commissioned by Christian Aid has found that burning fossil fuels at the current rate will have a huge impact on the finances of African countries. The average hit to GDP per capita could be as much as 34%, finds the report, while the effect on GDP growth will lead to an average 20% reduction in rates by 2050 and a huge 64% on average by 2100.

The findings underscore the urgent need for tangible progress on climate finance for adaptation and loss and damage – key areas on which developing nations will push richer polluting countries in Sharm el-Sheikh on Wednesday, which is finance day at Cop27.