Kenya loses up to 2.4% of GDP annually to climate-related disasters

NAIROBI, Kenya Sept 17 – Kenya loses an estimated 2 to 2.4 per cent of its Gross Domestic Product every year because of climate-related disasters, highlighting the economic cost of droughts, floods and other extreme weather events.

The figures were cited during discussions on climate adaptation at the 69th Commonwealth Parliamentary Conference in Cape Town, where National Assembly Speaker Moses Wetang’ula called for increased international support for developing countries facing climate shocks.

According to the International Monetary Fund, droughts in Kenya are estimated to cost about eight per cent of GDP every five years, while floods cost approximately 5.5 per cent of GDP every seven years.

The IMF also estimates that the severe 2008 to 2011 drought affected about 3.7 million people, caused 12.1 billion US dollars in damages and losses and created more than 1.7 billion dollars in recovery and reconstruction needs.

Wetang’ula said such figures demonstrate why vulnerable countries need greater access to climate finance and technical assistance.

He argued that countries with relatively low contributions to global greenhouse-gas emissions should not be left to shoulder the economic and social costs of climate change alone.

The Speaker urged Commonwealth parliamentarians to strengthen oversight of national climate programmes and push for stronger implementation of international climate commitments.