Kenya loses up to 2.4% of GDP annually to climate-related disasters

Nairobi, Kenya – According to recent estimates, Kenya's economy suffers between 2% and 2.4% in annual losses due to climate-related disasters such as droughts, floods, and other extreme weather events. This economic impact was highlighted during discussions on climate adaptation at the 69th Commonwealth Parliamentary Conference in Cape Town.

National Assembly Speaker Moses Wetang'ula emphasized the need for increased international support for developing nations facing climate shocks. The International Monetary Fund (IMF) has calculated that droughts in Kenya cost about 8% of GDP every five years, while floods cost approximately 5.5% of GDP every seven years. The severe drought between 2008 and 2011 affected around 3.7 million people, causing $12.1 billion in damage and losses, and generating over $1.7 billion in recovery and reconstruction costs.

Wetang'ula argued that nations contributing relatively little to global greenhouse gas emissions should not bear the economic and social burdens of climate change alone. He urged Commonwealth parliamentarians to enhance oversight of national climate programs and push for stronger implementation of international climate commitments.