Empowering Resilience: The case of weather shocks and air pollution

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During the conference "Empowering Resilience: The case of weather shocks and air pollution", organized by the World Bank's Institute for Economic Development, Forhad Shilpi, Senior Economist and lead author from the report "Rethinking Resilience" explains why economic development is a foundation for climate resilience.

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00:00 So in the rethinking resilience report,

00:03 we came up with this very simple

00:05 formula where we say that

00:07 2/3 of climate resilience is going to come from

00:11 income growth and 1/3 from other climate adaptation factors.

00:15 I can illustrate that with a simple example.

00:18 Think of a household which is rich.

00:21 There is an extreme heat wave going on.

00:24 They can go out.

00:26 Buy

00:26 an air conditioning which is going to be very effective

00:29 and compare that with a household which is poor,

00:33 don't have the money to buy air conditioning.

00:37 They would need to adjust their daily schedules

00:40 to minimize exposure to the heat wave.

00:43 When we look at the empirical evidence,

00:45 we find that the income has much more weight.

00:50 The formula came from.

00:51 Looking at evidence on different types of climate weather shocks

00:55 and their impacts on different types of outcomes,

00:58 and overall I think the main point that we want to make here is that

01:04 there is a huge overlap between climate resilience and economic growth,

01:08 and the for poorer countries,

01:11 economic development

01:13 should be the foundation for

01:15 climate resilience.

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So in the rethinking resilience report, we came up with this very simple formula where we say that 2/3 of climate resilience is going to come from income growth and 1/3 from other climate adaptation factors. I can illustrate that with a simple example. Think of a household which is rich. There is an extreme heat wave going on. They can go out. Buy an air conditioning which is going to be very effective and compare that with a household which is poor, don't have the money to buy air conditioning. They would need to adjust their daily schedules to minimize exposure to the heat wave. When we look at the empirical evidence, we find that the income has much more weight. The formula came from. Looking at evidence on different types of climate weather shocks and their impacts on different types of outcomes, and overall I think the main point that we want to make here is that there is a huge overlap between climate resilience and economic growth, and the for poorer countries, economic development should be the foundation for climate resilience.

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WORLDBANK CLIPSOCIAL 05 ForhadShilpi EDIT 003 MASTER LIGHT

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WORLDBANK CLIPSOCIAL 05 ForhadShilpi EDIT 003 MASTER LIGHT

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