Even if current levels of spending on climate change adaptation are maintained, rising temperatures in the Kingdom will continue to impact economic performance, reducing the country’s GDP by almost 10 percent by the year 2050, a report released Tuesday has found.
Cambodia’s GDP in 2015 was already 4.6 percent lower than it would have been without climate change, the study said.
The report, put together by the Ministry of Economy and Finance (MEF) in conjunction with the National Council for Sustainable Development (NCSD) with the assistance of UNDP, assumes that the global rise in temperatures is kept below 2 degrees Celsius.
A hotter climate will result in reduced worker productivity, decreasing the GDP growth rate by an average of 0.3 percent every year between 2016 and 2050. This will delay the Kingdom’s accession to upper middle income country status by one year.
“Workers slowing down or becoming fatigued due to higher temperatures will be the main cause of GDP loss, accounting for 57 percent of the economic loss and damage caused by climate change in the country in 2050,” the report said.
The economic loss in Cambodia would be “significantly higher” than in other Southeast Asia nations, according to the study.
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