Wednesday, 21 March 2018
HSBC report reveals Estonia is one of five countries least vulnerable to climate change
Estonia is one of five countries considered the least vulnerable to climate change, according to a new study by HSBC.
The bank assessed 67 developed, emerging and frontier markets on vulnerability to the physical impacts of climate change, sensitivity to extreme weather events, exposure to energy transition risks and ability to respond to climate change.
According to the report released on Monday, India is the most vulnerable country to climate change, followed by Pakistan, the Philippines and Bangladesh. The five countries considered the least vulnerable to climate change risk are Estonia, Finland, Sweden, Norway, and New Zealand.
The 67 nations represent almost a third of the world’s nation states, 80 percent of the global population and 94 percent of global gross domestic product.
Of the four nations assessed by the bank to be most vulnerable, India has said climate change could cut agricultural incomes, particularly unirrigated areas that would be hit hardest by rising temperatures and declines in rainfall.
Pakistan, Bangladesh and the Philippines are susceptible to extreme weather events, such as storms and flooding. Pakistan was ranked by HSBC among nations least well-equipped to respond to climate risks.
Posted by Tania Lestal