Zimbabwe needs to invest in climate-proof infrastructure as up to US$300 million lost every year to effects of high temperature and flooding: RBZ
ZIMBABWE faces high risks and vulnerability due to climate change disasters as costs from increased temperatures and flooding on public infrastructure are between US$50 million and US$300 million a year, a senior Reserve Bank of Zimbabwe official has said.
Speaking here in Victoria Falls at the Zimbabwe Economic Development Conference (ZEDCON), RBZ chief economist Dr Nicholas Masiyandima said the 2021 Notre Dame Global Adaptation Index ranks Zimbabwe at 168 out of 192 countries of vulnerability and readiness to adapt to climate change.
“Past IPCC assessments indicate that the country is a climate change hotspot together with other countries in the region, he said.
“The costs from increased temperatures, precipitation, and flooding on public infrastructure are between US$50 million and US$300 million a year.
“Beyond 2031, the damages to infrastructure are expected to increase as the risks of climate change induced shocks increase, expected to range from US$ 50 million to US$ 300 million by mid- century.”
He noted that there is wide consensus that the benefits of investing climate resilient infrastructure are large, even though estimation actual benefits remains difficult and characterised by uncertainties.
The conference aims to explore strategies for climate-proofing the economy, building resilience, and driving economic transformation under the impact of climate change.
Topics to be tackled include climate-proofing agricultural production growth, meteorological analysis of climate variability, rainfall patterns and El Nino effects for 2025-2030 and beyond.-chrocnole
