Small Island Developing States (SIDS) and how Climate affects SIDS along with its cost on Economy

Small Island Developing States (SIDS):

Small Island Developing States (SIDS) refer to a group of small island nations and territories that face shared challenges in sustainable development, alongside significant social, economic, and environmental vulnerabilities.  

Some of SIDS include the Maldives, Seychelles, Marshall Islands, Solomon Islands, Suriname, Mauritius, Papua New Guinea, Vanuatu, Guyana, and Singapore. 

SIDS are primarily located in three major geographical regions: the Caribbean, the Pacific, and the Atlantic, Indian Ocean & South China Sea (AIS) regions. 

At the United Nations Conference on Environment and Development 1992, SIDS were formally recognized as a special case due to their unique environmental and developmental challenges. 

How is Climate Change Affecting SIDS? 

Increased Vulnerability of SIDS: 

SIDS suffer 3-5 times more climate-related losses relative to government revenues compared to other countries. 

Even wealthier SIDS, like Barbados and the Bahamas, face four times more loss than other high-income nations. 

Projected losses from extreme weather will reach USD 75 billion annually by 2050 for SIDS, under a 2°C warming scenario. 

Direct Impacts: 

Climate change-induced extreme weather events cause significant damage to homes, infrastructure, and public services, as well as loss of life. 

For instance, Cyclone Winston in 2016 caused extensive flooding in Fiji, resulting in the loss of 44 lives and significant economic disruptions. 

Indirect Impacts: 

Recovery costs and diverted resources lead to slow economic recovery, with sectors like tourism and agriculture severely impacted. 

Economic growth is delayed or reversed, with increased recovery expenses and reduced income generation. For example, Fiji's GDP growth was reduced by 1.4% due to the 2016 cyclone. 

Small island states face prolonged fiscal difficulties, as recovery costs exacerbate national debt. Dominica's recovery from Hurricane Maria has left it with 150% debt-to-GDP ratio. 

Cost of Climate Change: 

USD 141 billion in direct and indirect impacts on SIDS from 2000 to 2020, averaging USD 2,000 per person. However, some countries face even higher per capita costs (e.g., Dominica lost USD 20,000 per person after Hurricane Maria). 

38% of the total losses are attributable to climate change, according to extreme event attribution studies. 

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