Climate resilience in South Asia will be private sector-led

World Bank says protecting lives and livelihoods depends on helping households and firms adapt

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SOUTH Asia is facing a sharp rise in extreme weather, with nearly 90% of the population expected to be exposed to intense heat and more than one in five people at risk of severe flooding by 2030. With public budgets under pressure, much of the adaptation effort will need to come from the private sector. A new World Bank report has laid out policy reforms that would help households and firms adapt to increasingly frequent and damaging weather events.

Released yesterday, 'From Risk to Resilience: Helping People and Firms Adapt in South Asia' finds that awareness of climate risk is high. More than 60% of households and firms have experienced extreme weather in the last five years, and more than 75% expect it for the next decade. Many households and businesses are already taking steps to adapt to climate risks. Around 80% of households and 63% of firms have taken some measures to adapt.

However, most of these measures are basic, such as raising house foundations or installing fans. More advanced options, like using climate-resilient seeds or relocating from high-risk areas, remain less common.