Latest news with #TowardsResilientandProsperousCitiesinIndia
Time of India
44 minutes ago
- Climate
- Time of India
Infra, roads raising night temps in cities by 3-4 degrees, Delhi vulnerable to floods: Report
Representational Image NEW DELHI: Night-time temperatures in major Indian cities exceed those of surrounding rural areas by 3-4 degree celsius round the year, primarily because of structures, roads and other infrastructure, a new World Bank report has revealed. It has specified that while Lucknow experiences 5 degree celsius more during night-time, in case of Chennai and Surat it's 3-4 degree celsius higher. The report titled 'Towards Resilient and Prosperous Cities in India' released on Tuesday found that intense heat waves and urban heat island effects are causing temperature rise in city centers and has projected that heat hazards will increase significantly in the coming decades, with the magnitude of the increase depending on the global emissions scenario. The report covered 24 Indian cities, with a special focus on Chennai, Indore, New Delhi, Lucknow, Surat and Thiruvananthapuram. The report has also found how the risk of pluvial flooding (surface water floods due to heavy rains) is estimated to increase by 73-100% in the next 50 years. Among cities, Delhi has the maximum built up area exposed to pluvial floods. "Under continuing urbanisation and climate impacts and without any remedial actions, annual losses from pluvial flooding are expected to be $5 billion by 2030, and between $14 to $30 billion by 2070," the report said. It said that under a high global emission scenario, residents of densely built neighbourhoods in Chennai, Lucknow, Surat will experience between 30% and 50% more extremely hot days and nights by 2050 than at present.
NDTV
6 hours ago
- Business
- NDTV
Indian Cities Will Need Over $2.4 Trillion By 2050 To Tackle Climate Risk: Report
New Delhi: Indian cities are becoming increasingly more vulnerable to floods, heatwaves, and other climate-related risks and will require over 2.4 trillion US dollars in investments by 2050 to build resilient and low-carbon infrastructure, according to a World Bank report released on Tuesday. The report notes that Indian cities hold tremendous potential as centres of economic growth, with 70 per cent of new jobs coming from cities by 2030. "However, timely action is needed for cities to deal with impacts from extreme weather events and avert billions of dollars in future losses," the report 'Towards Resilient and Prosperous Cities in India' states. The report, prepared in partnership with the Ministry of Housing and Urban Affairs, stated that "Annual economic losses from rain-related flooding are currently estimated at 4 billion dollars. These are projected to rise to five billion dollars by 2030 and between 14 and 30 billion dollars by 2070 if no remedial action is taken." According to the report, much of the urban expansion is occurring in "flood-prone and heat-vulnerable areas." The report identifies Delhi, Chennai, Surat and Lucknow among cities most exposed to urban heat island effects and flood risks, particularly due to settlement expansion into vulnerable areas. "In Delhi, the report highlights risks linked to rising temperatures and urban flooding. Heat stress is also expected to intensify. Between 1983 and 2016, exposure to dangerous heat levels increased by 71 percent in India's 10 largest cities, rising from 4.3 billion to 10.1 billion person-hours per year," the report added. The report raised concerns about heat-related deaths. "If emissions continue at current levels, annual heat-related deaths may rise from 1,44,000 to more than 3,28,000 by 2050. Around 20 percent of working hours in major Indian cities could be lost due to high heat stress conditions," it says. Heat mitigation alone could increase India's Gross Domestic Product by up to 0.4 per cent and save up to 130,000 lives annually by 2050, the report states. According to the report, the country's urban projected population will be around 1.1 billion by 2070. "More than 144 million new urban homes will be required, doubling the current housing stock," the report states. To offset these risks, the World Bank estimates that India will need to invest 2.4 trillion dollars by 2050 and 10.9 trillion dollars by 2070 across sectors such as housing, public transport, solid waste management, and municipal services. "However, India currently spent around 10.6 billion dollars per year from 2011 to 2018. India's current spending on urban infrastructure and services is -0.70 per cent of GDP, which is much lower than other countries and must be substantially increased", the report states. "This is both a challenge and an opportunity," said Auguste Tano Kouame, World Bank Country Director for India. Without timely action, climate risks such as flooding and extreme heat will become much more severe, Kouame added. The report states that public financing alone will not be sufficient to meet this demand. It calls for increased private sector investment through tools such as green bonds, blended finance, and access to international climate funds. The report recommends strengthening the financial autonomy of urban local bodies and improving their capacity to plan and implement bankable projects. "India's urban population stood at 480 million in 2020 and is projected to reach 951 million by 2050 and over 1.1 billion by 2070. According to the report, an estimated investment of 150 billion dollars over 15 years could enable 60 per cent of existing Indian cities to implement flood mitigation measures. The report was supported by the Global Facility for Disaster Reduction and Recovery, a multi-donor trust fund that helps countries strengthen disaster and climate resilience.
Time of India
7 hours ago
- Business
- Time of India
Urban climate funding: Indian cities need $2.4 trillion by 2050 to withstand floods, heatwaves
This is an AI-generated image, used for representational purposes only. NEW DELHI: Indian cities will require over $2.4 trillion in investments by 2050 to build resilient and low-carbon infrastructure, as they become increasingly vulnerable to heatwaves, urban flooding, and other climate-related risks, according to a new World Bank report released Tuesday. The report, 'Towards Resilient and Prosperous Cities in India', prepared in partnership with the ministry of housing and urban affairs, warns that economic losses from climate events are set to rise dramatically if cities fail to act urgently. 'Annual economic losses from rain-related flooding are currently estimated at $4 billion. These are projected to rise to $5 billion by 2030 and could surge to between $14 billion and $30 billion by 2070 if no remedial action is taken,' the report says. Among the worst-affected cities are Delhi, Chennai, Surat and Lucknow, which the report identifies as being most exposed to urban heat island effects and flood risks, largely due to rapid, unregulated expansion into ecologically vulnerable zones. In Delhi, heat stress is expected to intensify significantly. Between 1983 and 2016, exposure to dangerous heat levels in India's 10 largest cities increased by 71%, rising from 4.3 billion to 10.1 billion person-hours per year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Redefine Your Future with a Top Online MBA JAIN Online Learn More Undo "If emissions continue at current levels, annual heat-related deaths may rise from 1,44,000 to over 3,28,000 by 2050. Around 20% of working hours in major Indian cities could be lost due to high heat stress conditions," the report says, as per news agency PTI. The World Bank estimates that an investment of $150 billion over the next 15 years could help 60% of existing Indian cities implement effective flood mitigation measures. Heat mitigation alone, it adds, could increase India's GDP by up to 0.4% and save as many as 130,000 lives annually by 2050. Calling for urgent fiscal recalibration, the report warns that current urban infrastructure spending, at just 0.7% of GDP, is 'much lower than other countries' and must increase substantially. Between 2011 and 2018, India's average annual spending stood at $10.6 billion, a fraction of what will be needed in the decades ahead. "This is both a challenge and an opportunity," said Auguste Tano Kouame, World Bank Country Director for India, as quoted by PTI. "Without timely action, climate risks such as flooding and extreme heat will become much more severe." The report also notes that India's urban population stood at 480 million in 2020 and is expected to double to over 1.1 billion by 2070. "More than 144 million new urban homes will be required, doubling the current housing stock,' it states. Hence, to mitigate these risks, the World Bank estimates that India will need to invest $2.4 trillion by 2050 and $10.9 trillion by 2070 across sectors such as housing, public transport, solid waste management, and municipal services. To close the massive infrastructure gap, the report urges tapping into private capital through mechanisms such as green bonds, blended finance, and access to international climate funds. It also calls for greater financial autonomy for urban local bodies and improved project planning capacities to attract such investments. The findings come just months before COP30, the global climate summit, where countries are expected to present updated national climate action plans, known as Nationally Determined Contributions (NDCs). As per PTI, while only 25 nations, representing just 20% of global emissions, have submitted their NDCs so far, India's plan will be key to testing its climate leadership and sustaining the goals of the Paris Agreement.
Time of India
8 hours ago
- Business
- Time of India
India needs $2.4 trillion urban infra investment by 2050: World Bank
India would need an investment of $2.4 trillion by 2050 to meet the urban infrastructure requirement of an estimated population of 951 million in its cities by then, with a critical role to be played by the private sector, the World Bank said. It estimates the requirement to be $10.9 trillion by 2070, when the urban population is projected to be 1.1 billion. In a report titled 'Towards Resilient and Prosperous Cities in India', prepared in collaboration with the Ministry of Housing and Urban Affairs , the World Bank said over 50% of the urban infrastructure required for 2050 is still to be built, giving India a critical opportunity to drive resilient urban infrastructure development. Explore courses from Top Institutes in Please select course: Select a Course Category Others Technology PGDM Leadership Cybersecurity Data Science Design Thinking CXO Artificial Intelligence Healthcare Data Science MBA Management others Digital Marketing Public Policy MCA Finance Degree Operations Management Project Management Product Management healthcare Data Analytics Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details The report, released on Tuesday, proposes setting up a task force to look into urban financing and lay out a roadmap for managing floods as well as heat impact on urban life. According to World Bank estimates, 144 million urban dwellings will be needed between 2022 and 2070 for new urban population, which is more than double of the existing housing stock. "The current capital expenditure in Indian cities, an overwhelming share of which is from public fiscal resources, is far below what is needed," it said, adding that the cities' own-source revenue is low and remained flat at 1% of GDP from 2011 to 2018. "An urban finance strategy and road map can help identify key actions to increase public and private sector financing for resilience actions," it suggested. Live Events The report said Indian cities could face annual economic losses of up to $30 billion by 2070 in the absence of any urgent and strategic investments in climate-resilient urban infrastructure.
Time of India
10 hours ago
- Business
- Time of India
Urban climate funding: Indian cities need $2.4 trillion by 2050 to withstand floods, heatwaves
NEW DELHI: Indian cities will require over $2.4 trillion in investments by 2050 to build resilient and low-carbon infrastructure, as they become increasingly vulnerable to heatwaves, urban flooding, and other climate-related risks, according to a new World Bank report released Tuesday. The report, 'Towards Resilient and Prosperous Cities in India', prepared in partnership with the ministry of housing and urban affairs, warns that economic losses from climate events are set to rise dramatically if cities fail to act urgently. Explore courses from Top Institutes in Please select course: Select a Course Category Others Artificial Intelligence Digital Marketing others Public Policy Data Analytics healthcare CXO Data Science Leadership Product Management Operations Management Project Management Management Cybersecurity Finance Technology Healthcare MCA MBA PGDM Design Thinking Degree Data Science Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details 'Annual economic losses from rain-related flooding are currently estimated at $4 billion. These are projected to rise to $5 billion by 2030 and could surge to between $14 billion and $30 billion by 2070 if no remedial action is taken,' the report says. Among the worst-affected cities are Delhi, Chennai, Surat and Lucknow, which the report identifies as being most exposed to urban heat island effects and flood risks, largely due to rapid, unregulated expansion into ecologically vulnerable zones. In Delhi, heat stress is expected to intensify significantly. Between 1983 and 2016, exposure to dangerous heat levels in India's 10 largest cities increased by 71%, rising from 4.3 billion to 10.1 billion person-hours per year. Live Events "If emissions continue at current levels, annual heat-related deaths may rise from 1,44,000 to over 3,28,000 by 2050. Around 20% of working hours in major Indian cities could be lost due to high heat stress conditions," the report says, as per news agency PTI. The World Bank estimates that an investment of $150 billion over the next 15 years could help 60% of existing Indian cities implement effective flood mitigation measures . Heat mitigation alone, it adds, could increase India's GDP by up to 0.4% and save as many as 130,000 lives annually by 2050. Calling for urgent fiscal recalibration, the report warns that current urban infrastructure spending, at just 0.7% of GDP, is 'much lower than other countries' and must increase substantially. Between 2011 and 2018, India's average annual spending stood at $10.6 billion, a fraction of what will be needed in the decades ahead. "This is both a challenge and an opportunity," said Auguste Tano Kouame, World Bank Country Director for India, as quoted by PTI. "Without timely action, climate risks such as flooding and extreme heat will become much more severe." The report also notes that India's urban population stood at 480 million in 2020 and is expected to double to over 1.1 billion by 2070. "More than 144 million new urban homes will be required, doubling the current housing stock,' it states. Hence, to mitigate these risks, the World Bank estimates that India will need to invest $2.4 trillion by 2050 and $10.9 trillion by 2070 across sectors such as housing, public transport, solid waste management, and municipal services. To close the massive infrastructure gap, the report urges tapping into private capital through mechanisms such as green bonds, blended finance, and access to international climate funds. It also calls for greater financial autonomy for urban local bodies and improved project planning capacities to attract such investments. The findings come just months before COP30, the global climate summit, where countries are expected to present updated national climate action plans, known as Nationally Determined Contributions (NDCs). As per PTI, while only 25 nations, representing just 20% of global emissions, have submitted their NDCs so far, India's plan will be key to testing its climate leadership and sustaining the goals of the Paris Agreement.
