No abstract

Flooding is among the most prevalent natural hazards, with particularly disastrous impacts in low-income countries. This study presents global estimates of the number of people exposed to high flood risks in interaction with poverty. It finds that 1.81 billion people (23% of world population) are directly exposed to 1-in-100-year floods. Of these, 1.24 billion are located in South and East Asia, where China (395 million) and India (390 million) account for over one-third of global exposure. Low- and middle-income countries are home to 89% of the world’s flood-exposed people. Of the 170 million facing high flood risk and extreme poverty (living on under $1.90 per day), 44% are in Sub-Saharan Africa. Over 780 million of those living on under $5.50 per day face high flood risk. Using state-of-the-art poverty and flood data, our findings highlight the scale and priority regions for flood mitigation measures to support resilient development.

This article outlines the current state of affairs in fossil fuel subsidy reform, and highlights its contribution at the nexus of climate policy, fiscal stability and sustainable development. It discusses common definitions, provides quantitative estimates, and presents the evidence for key arguments in favour of subsidy reform. The main drivers and barriers for reform are also discussed, including the role of (low) oil prices and political economy challenges. Commitments to subsidy reform by the international community are reviewed, as well as the progress at the country level. Although fossil fuel subsidy reform indeed plays a critical role in climate policy, experience shows that the rationale for such reforms is determined in a complex environment of political economy challenges, macro-economic, fiscal and social factors, as well as external drivers such as energy prices. The article synthesizes the key principles for designing effective reforms and emphasizes that subsidy reforms cannot only yield fiscal relief, but should also contribute to long-term sustainable development objectives. Areas for future research are also identified.