United Nations Development Programme (UNDP) Administrator, Mr. Achim Steiner, speaking at the UN Climate Conference, urged immediate action against the severe impacts of El Niño, stating that acting now would cost half of what it would cost to delay intervention. The urgency of fundraising to address the challenges posed by El Niño has become one of the most contentious topics at the conference.
The Cost of Inaction
Mr. Steiner highlighted that immediate action to combat El Niño requires an estimated $36 billion. However, if no action is taken, the cost could escalate to $73 billion, nearly doubling the initial amount. “So the question is, do we want to be proactive and help people, or wait until the consequences arrive and pay for them?” he asked, emphasizing that inaction represents the most expensive climate policy.
El Niño, a phenomenon occurring every two to seven years, typically begins with rising sea surface temperatures in parts of the Pacific Ocean during spring. Over the subsequent months, it significantly alters global wind patterns, atmospheric pressure, and rainfall. Mr. Steiner cautioned against the high price of complacency.
Call for Increased Funding
He appealed to national delegations and major institutions like the International Monetary Fund (IMF) to enhance financial support. This support is crucial for developing countries most vulnerable to El Niño’s impacts, helping them mitigate disaster consequences. Such investments, he noted, not only save lives and protect crops and infrastructure but also lead to long-term cost savings.
Regional Economic Impacts
A recent report by the UNDP, citing assessments from the African Development Bank, detailed the potential economic repercussions of the current El Niño event. African nations could face losses ranging from $10 billion to $20 billion. Meanwhile, the UN Economic Commission for Latin America and the Caribbean estimates that the region could experience cumulative GDP losses of at least 2% over three years due to El Niño. Furthermore, these economic damages are projected to push an additional 4.8 million people into poverty.
A Window for Action
Mr. Steiner stressed that it is not too late to act. “We still have time. We must significantly increase climate adaptation investments. Whatever the cost, the price of doing nothing is far, far higher,” he concluded, reinforcing the critical need for timely and decisive climate action.
