Two thirds of the most at-risk countries from climate change are located in Africa, the latest edition of the Climate Finance Vulnerability Index, developed by the Columbia Climate School, in association with The Rockefeller Foundation, has found.
The index assesses 188 countries’ exposure to climate-related hazards, such as floods, droughts, cyclones, and conflicts, along with their ability to finance prevention, recovery, and adaptation.
‘Red Zone’ nations
Overall, more than 2 billion people live in ‘Red Zone nations’, where the risk of a major hazard or disaster is high, and access to finance is negligible.
Some 65 countries are identified as being in the Red Zone, with 66% of these located in Sub-Saharan Africa, with a combined population of nearly 1.2 billion people.
Latin America and the Caribbean are home to eight Red Zone countries, along with six nations in the Asia Pacific region. Just two European countries appear in the Red Zone, Ukraine and Cyprus.
“As governments around the world prepare for the Fourth International Conference on Financing for Development, the gap between development goals and the needed financing has never been larger,” commented Eric Pelofsky, vice president for global economic recovery at The Rockefeller Foundation.
“The CliF Vulnerability Index launches an important conversation about the data that should drive scarce resources to vulnerable countries that are facing immense challenges in accessing financing. By using the CliF Vulnerability Index, donors and funders can prioritise support for countries that are potentially living one disaster away from crisis.”
The CliF Vulnerability Index filters results through four scenarios – a 2050 timeline, a 2080 timeline, and ‘optimistic’ and ‘pessimistic’ climate scenarios. These scenarios account for varying degrees of emissions, population growth, and international collaboration on climate mitigation and adaptation.
According to the index, the countries best-positioned to handle the climate crisis are Denmark, Estonia, Japan, Norway, South Korea, Switzerland, Sweden, the United States, China, Thailand and the United Arab Emirates.
Vulnerability and opportunity
“The CliF Vulnerability Index highlights both vulnerabilities and the subsequent financial opportunity, giving governments and donors a clearer view of the investment landscape,” added Deepali Khanna, vice president, Asia regional office, The Rockefeller Foundation.
“This is crucial as climate impacts intensify and funding gaps continue to grow, even in the countries that are performing well. By offering a more comprehensive picture of risk and readiness, The Index will help countries move forward with greater clarity, intention, and purpose to mitigate and adapt to climate change.” Read more here.
