The stunning Pacific atolls of Kiribati, Tuvalu, and the Marshall Islands are standing on the frontline of climate change. According to a recent World Bank report released on Thursday, these small, remote nations face an astronomical $10 billion price tag to adapt to rising sea levels.
With elevations no higher than two to three meters, residents across these 6.4 million square kilometers of the Pacific Ocean are vulnerable to even a modest sea level rise of 0.5 meters (1.64 feet). Under the worst-case scenario, this could submerge significant portions of these nations by 2050, or more likely by 2070.
The economic burden is staggering. For Kiribati, the cost of physical adaptations like seawalls and inland relocations is estimated at $3.7 billion. Tuvalu requires $1 billion, while the Marshall Islands need a hefty $5 billion. Combined, this represents roughly 20 years of their current GDP.
But the financial needs don't stop there. The report highlights additional expenses in health, education, power, and water systems, not to mention the challenges of importing sand and rock for construction.
Climate shocks like coastal flooding threaten to push a third of Kiribati and Tuvalu’s populations into extreme poverty, while healthcare systems grapple with increased heat-related illnesses.
As COP29 climate talks unfold in Azerbaijan, the spotlight is on whether richer nations, development lenders, and the private sector can bridge the $10 billion funding gap to support these vulnerable regions. The success of the summit will likely hinge on new financial commitments to enable vital climate action in the Pacific atolls.
Reference(s):
Pacific atolls face $10 billion cost of rising sea, says World Bank
cgtn.com
