India on the front line of climate change; farmers’ income likely to hit, says HSBC report
In a study conducted by the HSBC, which released on Monday, India stands on the front line, followed by Pakistan, Philippines and Bangladesh, as one of the worst affected countries of the hazards of global warming and climate change.
The bank’s study, which analysed 67 developed, emerging and leading markets across the world, ranked the countries on the basis of vulnerability to the physical impacts of climate change, sensitivity to extreme weather conditions, exposure to energy transition risks, and ability to respond to climate change.
The report says the study covers almost a third of the world countries with 80% of the global population and 94% global GDP. Out of the four nations on the front line, the climate change could affect mostly on the agricultural income of Indian farmers because of lack of proper irrigation network. As the rising temperatures would hit harder on these areas and consequently, a steep decline in rainfall, jointly makes the future of Indian farmers clouded.
Pakistan, Bangladesh and the Philippines are vulnerable to extreme weather events like storms and flooding, says the report. Other nations in the most vulnerable group are Oman, Sri Lanka, Colombia, Mexico, Kenya, and South Africa.
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