Consider using public-private alliances, fiscal tools, and climate risk-informed budgets to enhance adaptive capacity.
The South Asian world is experiencing an increasing vulnerability to extreme temperatures, flooding, and cyclones; therefore, climate adaptation is a pressing development agenda. The area is already the most vulnerable to climate change among emerging and developing markets, and it is estimated that almost 90 percent of its population will be in danger of extreme heat by the year 2030. The exposure in urban context is also observed to be quite alarming: by 2030, 1.2 billion of the urban population (92 percent) is projected to be exposed to extreme heat, and 322 million (24 percent) will face flood risks. An increase in temperature is also lowering labor productivity as the number of hours spent under the sun is becoming unsafe, and their projected losses in heat-related working hours are the most in the world by 2030.
Accepting these weather patterns that are life-threatening requires a holistic approach that incorporates individual initiative and facilitates government policy. Though 80 percent of households and 63 percent of firms are reported to have taken adaptive measures, the majority of the responses are low-cost and basic in nature because of financial and information limitations. Governments can enhance resilience through enhanced access to credible weather forecasts and early warning systems, which have proved useful in mitigating damage in the prone areas. City planning should be done systematically, pushing people out of risky flood areas and emphasizing on construction of resilient infrastructure like drainage, transport, and water systems. Informality and high urban poverty also presuppose the necessity of specific social protection.
As much as it covers 77 percent of the population, the programs should be better-funded, targeted, and scaled within a short period to respond to shocks. Loss incomes may be reduced using shock-responsive cash transfers and diversification of livelihoods, and this would promote long-run adaptation. To conclude, the future of South Asia in risk management to resilience is through the establishment of greater institutions, correcting market failures, investing in resilient infrastructure, and protecting its most vulnerable population from mounting climate extremes.