Yahoo Finance 20 Most Vulnerable Countries in the World to Climate Change
In this article, we will look into the 20 most vulnerable countries in the world to climate change. If you want to skip our detailed analysis, you can go directly to the 5 Most Vulnerable Countries in the World to Climate Change.
Global Climate Change Outlook
Climate change is no longer a distant concern; it is the reality of vulnerable communities around the world. The recent conferences on climate change presented enthusiastic commitments from many economies. However, the implementation of those promises remains a significant challenge. As stated earlier in our article about the countries most likely to survive climate change, the global temperature shattered records in 2023 and reached 14.98°C. This temperature hike is expected to continue in 2024, with a 99% chance of it ranking among the top 5 warmest years on record, as reported by the National Oceanic and Atmospheric Administration (NOAA).
The disproportionate impact of climate change on developing economies necessitates developed nations to increase investments in climate change solutions and conservation efforts within these regions. A recent report by the Boston University Global Development Policy Center highlighted the significance of immediate funding to help vulnerable communities around the world. Developing countries will require $1 trillion in annual funding from external sources to meet their climate change and sustainability goals. The report identifies that 95 out of 108 developing nations have high debt and restrictive access to capital markets which makes it difficult for them to address environmental and economic issues.
African economies are the most vulnerable to climate change. On February 28, African Business reported that Africa's GDP could potentially decline by 15% by 2030 due to climate change. Africa receives only 3% of climate finance flows and lacks public funding and partnerships to mobilize climate finance at scale. Many countries agreed to support developing countries to accelerate green transition and build climate resilience at COP28. The European Investment Bank has provided over €32 billion in funding to 40 countries in Africa for green energy, water, urban, education, health, and business investment. In 2022, the bank invested €10 million in Benin to provide low-carbon solar energy to 600,000 people. Other instances include a €12.5 million investment in Uganda to provide 1.4 million people access to reliable and cost-effective off-grid solar energy. In 2023, the bank invested a staggering €350 million in African equity funds. The region requires increased funding from external sources to improve its resilience against climate change. You can also look at the most powerful countries in Africa in 2024.
Companies Providing Green Tech Solutions
While the climate change outlook for low-income countries is concerning, green technologies present a way forward. Countries can build resilience against climate challenges by adopting sustainable tech solutions. Some of the companies providing innovative green tech solutions include ABB Ltd (OTC:ABBNY), General Electric Company's (NYSE:GE) GE Vernova, and Schneider Electric S.E. (OTC:SBGSY).
ABB Ltd (OTC:ABBNY) is a leading technology and automation company that provides sustainable and resource-efficient solutions. On January 8, the company announced that it had acquired a Canadian water quality monitoring company, Real Tech. This will allow ABB Ltd (OTC:ABBNY) to strengthen its sustainable water management solutions and will equip the company with critical optical sensor technology, enabling real-time monitoring of water quality. You can also look at the Countries with the Least Access to Safe Drinking Water.
GE Vernova is a subsidiary of General Electric Company (NYSE:GE), providing electrification and decarbonization solutions. On March 18, the company announced that it would be supplying electric propulsion systems for Singapore's navy ships. This marks a considerable development for sustainable naval operations. Electric propulsion provides higher energy efficiency compared to conventional methods and reduces GHG emissions. General Electric Company's (NYSE:GE) Power Conversion UK center of excellence (COE) will be designing and manufacturing the equipment.
Schneider Electric S.E. (OTC:SBGSY) is a leader in energy management and automation, providing sustainable and efficient solutions. On March 20, the company announced that it had partnered with Mainspring Energy to develop a new hybrid energy solution for commercial and industrial customers. The solution integrates Mainspring Energy's innovative linear gear with Schneider Electric S.E.'s (OTC:SBGSY) microgrid technology, offering benefits such as on-site power generation, independent grid operations, and low-carbon fuel options. The joint system by both companies can also adapt to changing grid demands and support businesses in reaching their decarbonization goals. This highlights the company's commitment to providing low-carbon and energy-efficient solutions to promote carbon neutrality and sustainability. You can also check out the countries with the lowest per capita carbon emissions.
With this context, Let's have a look at the 20 most vulnerable countries in the world to climate change.
Aerial view of an oil refinery, showcasing the company's hydrocarbon-producing market segment.
Methodology
To rank the 20 most vulnerable countries in the world to climate change, we consulted the ND-GAIN Country Index. The index assesses the preparedness and vulnerability of a country to climate change. We have utilized its vulnerability score which evaluates a country's exposure, sensitivity, and ability to adapt to climate change. The most vulnerable countries in the world to climate change are ranked in ascending order of their vulnerability scores, as of 2021.
20 Most Vulnerable Countries in the World to Climate Change
20. Mauritania
Vulnerability Score (2021): 0.557
Mauritania is ranked among the 20 most vulnerable countries in the world to climate change. The country had a high vulnerability score and was ranked lower on the readiness index in 2021. The country requires high investment and innovations to be able to adapt and mitigate climate change.
19. Burundi
Vulnerability Score (2021): 0.558
Burundi is the 19th most vulnerable country in the world. It had a vulnerability score of 0.558 in 2021. The country needs urgent action to stay resilient and adapt.
18. Sierra Leone
Vulnerability Score (2021): 0.561
Sierra Leone ranks 18th on our list. It had a vulnerability score of 0.561 in 2023. It is positioned in the upper-left quadrant of the ND-Gain Matrix, meaning that it requires high investments to adapt to climate change. It is the 154th most prepared country with respect to climate change.
17. Congo
Vulnerability Score (2021): 0.564
Congo is the 17th most vulnerable country in the world. In 2021, the country had a vulnerability score of 0.564. The country is one of the least climate-resilient countries and requires high investments.
16. Marshall Islands
Vulnerability Score (2021): 0.573
Marshall Islands had a vulnerability score of 0.573 in 2021. The country has a high vulnerability and relatively low readiness against climate change. It is ranked 16th on our list.
15. Uganda
Vulnerability Score (2021): 0.581
Uganda is ranked 15th on our list of the most vulnerable countries in the world to climate change. The country had a vulnerability score of 0.581 in 2021. The country lacks investments and innovation to combat climate change.
14. Nauru
Vulnerability Score (2021): 0.581
Nauru is the 14th most vulnerable country to climate change. The country has a high vulnerability and low climate change resilience. In 2021, it had a vulnerability score of 0.581.
13. Central African Republic
Vulnerability Score (2021): 0.584
The Central African Republic is ranked 13th on our list. The country is one of the least prepared and most endangered countries against climate change. It is one of the most vulnerable countries to climate change.
12. Afghanistan
Vulnerability Score (2021): 0.590
Afghanistan ranks 12th on our list. In 2021, the country had a vulnerability score of 0.590, according to the ND-GAIN index. The country is a low-income nation and lacks the required investments to fight climate change.
11. Mali
Vulnerability Score (2021): 0.596
Mali is the 11th most vulnerable country to climate change. The country is one of the least prepared nations against climate change. In 2021, it had a vulnerability score of 0.596.
10. Solomon Islands
Vulnerability Score (2021): 0.599
The Solomon Islands is a country in Oceania. In 2021, it had a vulnerability score of 0.599. The country is the 100th most ready country and is on the path of responding efficiently to climate change. However, it requires an enhanced adaptation framework and urgency to implement innovative solutions to combat climate change. It is ranked 10th on our list.
9. Liberia
Vulnerability Score (2021): 0.601
Liberia is a country in West Africa. In 2021, it had a vulnerability score of 0.601. It is one of the least prepared countries against climate change. It is ranked 9th on our list of the most vulnerable countries in the world to climate change.
8. Sudan
Vulnerability Score (2021): 0.604
Sudan is the 8th most vulnerable country in the world. The country had a vulnerability score of 0.604 in 2021. The country lacks resources to combat climate change and requires increased innovation and investments to adapt to climate crises. It is the 175th most ready country in the world.
7. Tonga
Vulnerability Score (2021): 0.605
Tonga is ranked 7th on our list. The country had a vulnerability score of 0.605 in 2021. The country has a relatively higher climate readiness score compared to the other vulnerable countries. However, the country needs to increase its adaptation efforts to combat climate change. It is one of the most vulnerable countries to climate change.
6. Eritrea
Vulnerability Score (2021): 0.605
Eritrea is a country in East Africa. In 2021, the country had a vulnerability score of 0.605. It requires high investments and technological innovations to enhance its resilience against climate change. The country is one of the least prepared countries in the world against climate change. It is ranked 6th on our list of the most vulnerable countries in the world to climate change.
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Disclosure: None. 20 Most Vulnerable Countries in the World to Climate Change is originally published on Insider Monkey.
