Natural hazards made more likely by climate change, such as flooding and storms, cost poor nations hundreds of billions every year due to crumbling infrastructure, the World Bank said Wednesday. The lender said power and water cuts and traffic disruptions caused by inclement weather and worsened by poor management and maintenance of bridges, roads and electricity grids, cost low- and middle-income nations $390 billion (350 billion euros) annually.
Two-thirds of humanity is predicted to reside in cities by 2050, up from 55 percent today. With much of the plumbing, power, and health infrastructure needed to sustain them yet to be built, investors are increasingly prioritising projects that will prove resilient to future climate shocks.