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00:06 In recent years,
00:08 Benin,
00:09 home of the Amazons,
00:10 has gone from being a low income country
00:13 to a lower middle income country,
00:15 but keeping up with this growth momentum will require
00:19 strong action to counteract the effects of climate change.
00:22 Binnin's new climate
00:24 and development report
00:26 CCDR
00:27 confirms this.
00:29 Despite its low contribution to greenhouse gas emissions,
00:33 the country is one of the most vulnerable to climate change.
00:36 In the future,
00:37 dry and wet periods are likely to become more extreme
00:40 with more droughts and a higher risk of flooding.
00:43 This will have a significant impact on Benin's most vulnerable population
00:48 and on key economic sectors.
00:51 The dependence of Binin's economy on agriculture and informal employment
00:55 makes the country highly vulnerable to climate change.
00:59 However,
01:00 there is cause for optimism
01:02 if Binin continues to implement
01:04 and accelerates its action to build a resilient economy
01:07 by prioritizing investments
01:09 and policies focused on climate change adaptation.
01:13 This calls for a resilient growth model in which the state
01:17 and the private sector join forces.
01:20 Resilience must target all sectors,
01:23 but it is particularly urgent to
01:25 move faster towards the following adaptation measures
01:28 adapt agricultural techniques.
01:31 Restore and protect forests.
01:34 Invest in water resource management,
01:37 plan sustainable cities
01:39 and coastal management.
01:41 Protect network infrastructure to keep people and markets connected.
01:45 Strengthen the resilience of health services
01:48 and emergency preparedness,
01:50 intensify efforts to make education systems more resilient to climate change.
01:55 Ensure women's participation in decision making.
01:59 How much will climate action cost?
02:02 The report estimates that strict additional financing requirements
02:05 would cost $2.7 billion US dollars by 2032.
02:10 How to finance climate action?
02:12 The report suggests at least three possibilities
02:16 for financing climate action
02:18 increase revenues
02:20 and make public spending more efficient.
02:22 Exploit concessional blended
02:25 and innovative financing
02:26 and disaster risk financing,
02:29 where Bennin already has a strong track record
02:32 with the issuance of Africa's first SDG bond.
02:36 And
02:37 above all,
02:38 the private sector will have to step up
02:41 and finance a large part of climate action.
COTONOU, December 7, 2023 - While high growth over the past decade has helped Benin reduce poverty, the country’s development gains are threatened by the impact of climate shocks, according to the new Country Climate and Development Report (CCDR) released today. Bold actions are needed to promote sustainable and inclusive growth, seizing opportunities for greater forest and land management, resilient urban infrastructure, and energy transition to achieve universal access to electricity.
Benin has amongst the lowest greenhouse gas (GHG) emissions globally, yet it remains one of the most vulnerable countries to climate change, ranking 152 out of 181 countries for extreme climate vulnerability. Floods are increasingly severe and pose significant challenges to the inadequate water supply, sanitation, and waste collection systems. In addition to increased deforestation, the country's 125 km of coastline is suffering from severe coastal erosion, which is likely to worsen if nothing is done.
“The issue raised by the report is how to reconcile development with the challenge of climate change in order to protect the poor and vulnerable,” said Nathalie Picarelli, World Bank Senior Economist, and principal author of the report. “Our report estimates that almost half a million to a million more people could fall into poverty by 2050 if no adaptation measures are taken.”
Benin’s vulnerability to climate change is due, in part, to an economic structure dependent on agriculture and informal employment. However, there is cause for optimism if the country chooses to move quickly towards building a resilient economy, with investment and policy options focused on adaptation to climate change risks.
''Benin has made significant progress in parts of the coast to tackle coastal erosion, but more needs to be done as it records one of the highest rates of coastal erosion in the Gulf of Guinea,”said Manuela Ravina Da Silva, World Bank Environmental Specialist and co-author of the report. “There is also a need to invest more in mitigation measures, including renewable energy, to expand access to electricity for the country’s people and tackle deforestation through sustainable land use systems to meet the country’s reforestation aims by 2030.”
Adapting to climate change requires a resilient growth model. Government and the private sector need to be better prepared to deal with climate change; building adequate institutions and governance structures will be crucial. While all sectors will have to become more resilient, this is especially urgent for agriculture and land use, urban and network infrastructure, and human development (education, health).
"Benin's development agenda is highly ambitious. Addressing the challenge of climate change is important for achieving inclusive growth. The financing needs are large and will require coordinated action, innovative financing solutions and crowding-in the private sector. The CCDR is a call to action for all stakeholders in Benin's development,’’ said Nestor Coffi, Work Bank Country Manager for Benin.
Gnona Afangbedji,
About The World Bank
The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global challenges. For more information, please visit www.worldbank.org, www.miga.org, and www.ifc.org.
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