UNDP Chief Urges Immediate Action on El Nino to Avoid Soaring Costs

ANTALYA: The head of the United Nations Development Programme (UNDP) has issued a stark warning regarding the urgent need to address the impacts of El Nino, stating that failure to act could double the global financial burden from $36 billion to $73 billion. This call to action came during discussions on climate financing at the COP31 talks held in Turkey.

In an interview, UNDP chief Alexander De Croo emphasized the critical nature of timely intervention, noting, “The needs to hedge the impact of El Nino are $36 billion if you do it now. If you don’t do it, the cost will be $73 billion. So the cost would be two times as high.” El Nino, a climate phenomenon that heats Pacific Ocean waters every two to seven years, disrupts global weather patterns and has already inflicted economic damage worldwide.

De Croo further warned that inaction represents the most costly climate policy imaginable, urging major financial institutions like the International Monetary Fund to support vulnerable developing nations in mitigating the adverse effects of this climate event. The implications of El Nino are profound, affecting food security, water supply, and economic stability across the globe.

Looking ahead, the international community is expected to intensify discussions on climate financing, with a focus on mobilizing resources to assist those most affected by climate change. The urgency of the situation underscores the need for immediate and coordinated global action.