The World Bank predicts that climate change will aggravate Mozambique’s development challenges and, in the worst case scenario, influence an increase in poverty rates of five per cent by 2050, pushing more than 1.6 million people into a situation of extreme need.
To mitigate its impact, the country will have to invest up to 37.2 billion dollars by 2030 to achieve climate resilience, in terms of human, physical and natural capital.
The data is contained in the Mozambique Climate and Development Report (CCDR) published in December 2023, a document that warns that if no significant structural transformation takes place, the inequality index will hardly change by 2050 in all the climate scenarios analysed.
“Integrating climate change into Mozambique’s planning is fundamental to building a resilient economy,” says the Mozambique Climate and Development Report (CCDR).
The World Bank document emphasises the urgency of integrating climate action into Mozambique’s planning, given the country’s vulnerability to the effects of climate change and recommends that investments in resilience and adaptation should focus on the most urgent needs, while offering a set of four impact priorities to boost climate adaptation, build resilience and promote low-carbon growth, improving the country’s development indices by 2050.
“Adopt economy-wide measures to increase adaptive capacity. Prioritise the development and management of critical infrastructure. Protect the most vulnerable while promoting green, resilient and inclusive growth and capitalise on Mozambique’s energy and mineral wealth,” reads the report.
However, the CCDR points out that the expected revenues from Liquefied Natural Gas (LNG) sales will increase the country’s debt sustainability and could generate significant budget space to support investments in adaptation and climate change resilient infrastructure, although the revenues are only expected after 2030.
The CCDR assesses how Mozambique’s development course and priorities may be affected by climate change and global decarbonisation, and suggests ways to respond, as well as identifying options for implementing climate-resilient development within a constrained fiscal framework.
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