BY BEN BILUA
A study carried out by Asian Development Bank founds the Solomon Islands could lose up to 4.7 percent of the Gross Domestic Product by 2100.
The research focuses on the Economics of Climate Change in the Pacific.
It includes modeling of future climate over the Pacific region, assessments of the potential impacts on agriculture, fisheries, tourism, coral reefs, and human health, and predictions of the potential economic impact of climate change for specific sectors and economies under various emissions scenarios.
According to the report, the sea level will rise 1.74 meters meaning agriculture, fisheries and other sectors of the economy will take a severe hit in the face of more extreme temperatures and other climate change-linked events which can lead to economic losses.
The temperature will rise by 2-3 degree Celsius by 2070 meaning there will be a significant decrease in rain-fed agriculture, reduced fish catches, widespread coral bleaching, and falling tourism numbers.
According to the report, the most significant economic losses would be felt in PNG, where climate change impacts could trigger a loss of up to 15.2% of its GDP by 2100. Timor-Leste’s GDP is predicted to drop by up to 10%, followed by Vanuatu at 6.2%, Solomon Islands at 4.7%, Fiji at 4.0%, and Samoa at 3.8%.
Director General of ADB’s Pacific Department, Xianbin Yao says there is a very real possibility that climate change could unravel the significant development achievements that have been made in the Solomon Islands unless tough policy decisions are made.
