Investments aimed at improving climate resilience could create benefits equal to 150 million jobs by 2050, according to a new World Bank report. The study, titled “Jobs in a Changing Climate: Insights from World Bank Group Country Climate and Development Reports (CCDRs) covering 93 economies,” draws on data from CCDRs that represent 64 percent of the population and 77 percent of the GDP of low- and middle-income countries.
The report indicates that climate change is expected to have a negative impact on employment, with the potential for job losses equivalent to 43 million across 49 countries by 2050. When this figure is extrapolated to all low- and middle-income countries, it rises to an estimated 260 million job losses.
However, the findings suggest that investments focused on building resilience and supporting adaptation efforts can significantly reduce these projected losses. According to the report, such investments could generate up to 25 million “more and better-paid jobs” across the analyzed countries, with global estimates reaching as high as 150 million jobs created through similar measures.
Low-emission development strategies are also highlighted in the report as offering net economic gains in most countries over the short term. While overall employment effects may be modest at an aggregate level, there are notable sectoral and regional shifts—some industries may decline while emerging technologies present new opportunities.
The report points out that investments in adaptation and low-emission development not only foster new job opportunities but also help protect vulnerable workers and communities. To maximize these benefits and manage transitions within labor markets, targeted policies are recommended. These include investing in human capital, enhancing business environments, facilitating worker reallocation, and providing protections for vulnerable populations.
The report emphasizes that mobilizing both public and private capital will be necessary to address substantial investment needs identified by its analysis.
“The World Bank Group’s CCDRs support countries to identify how to accelerate their development ambitions in line with their own nationally determined contributions and long-term strategies.”
For further information about this initiative or access to detailed reports, visit https://www.worldbank.org/en/news/feature/2024/11/07/jobs-in-a-changing-climate-insights-from-world-bank-group-country-climate-and-development-reports-covering-93-economies.