World Bank: Georgia can unlock potential for green growth
The World Bank says that climate change will further exacerbate environmental degradation, particularly in Georgia’s coastal zones. Photo: Nino Alavidze/Agenda.ge.
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Air pollution in Georgia contributed to more than 4,000 lives lost, while its economic costs were estimated at $560 million, or 3% of gross domestic product (GDP), reads the World Bank report 'Georgia: Towards Green and Resilient Growth', that estimates losses associated with pollution and degradation of agricultural and forest land and coastal zones.
The cost of agricultural and forest land degradation, which disproportionately impacts the rural poor who derive their livelihoods from land, was estimated at $128 million. Restoring landscapes is projected to reduce the poverty gap by 6%", reads the report.
The World Bank says that climate change will further exacerbate environmental degradation, particularly in Georgia’s coastal zones.
In 2018, climate-driven flooding, erosion, waste, and damage to soil were estimated at 5% of coastal zone GDP. The report emphasizes the importance of natural assets for Georgia’s long-term development and outlines how recovery from the Covid-19 pandemic presents an opportunity for the country to build back better, fairer, and greener", reads the report.
Annual agricultural land losses are estimated to cost $122 million. The estimate includes:
- Loss of pasture productivity due to land degradation
- Loss of electricity generation due to river sedimentation
- Reduction of irrigated land
Annual forest land losses are estimated at $16 million. Estimates include tree cover loss and forest degradation.
Major drivers of forest loss are:
- Unsustainable wood harvesting (mostly for fuel), illegal logging, extensive grazing, and forest land transformation for infrastructure and agriculture.
Social Impact of Land Degradation:
- Agriculture and forestry contribute to the economy and job creation and represent about 7% of GDP and 42% of employment
- Rural people derive about 47–61% of their income from agriculture and forestry
- Land degradation has the greatest impact on the poor
- If landscapes were restored, the poverty gap would be reduced by 6% for the poorest 20% of Georgia's population
Under the 2015 Paris Agreement, Georgia has pledged to enhance sustainable development and to curb global warming through its recently updated Nationally Determined Contribution (NDC), which sets forth specific measures for greenhouse gas emission reductions and climate-change adaptation.
As part of its updated NDC, Georgia pledged a 35% reduction of greenhouse gas emissions by 2030 as compared to 1990. At the Conference of the Parties (COP) in Glasgow later this year, Georgia and all Paris Agreement signatories will be reporting on progress made towards these targets.
The World Bank, the Organization of the Black Sea Economic Cooperation (BSEC) and the government of Georgia have started consultations on 'bluing the Black Sea' to address marine pollution and provide Georgia with a valuable opportunity to integrate the Black Sea into the country’s strategies for climate adaptation and mitigation.
The United Nations Development Programme (UNDP) is helping Georgia to adopt legislation on environmental liability that will hold private companies accountable for pollution and other environmental harm, announces the UNDP Georgia.
About 14,000 tonnes of dust is emitted in Rustavi annually, which should be reduced to 2,000 tonnes, said Agriculture Minister Levan Davitashvili earlier today, noting that the government approved an air quality management plan for Rustavi today.
During the past 18 months Georgia has designed legislation for environmental liability, drafted a proposal for a Marine Environment Strategy and Action Programme, trained inspectors and assessed air quality aspects, and prepared management plans for three Emerald Sites with the support of the European Union (EU).
The estimated real gross domestic product (GDP) growth rate in April 2021 equaled 44.8% year-on-year and 8.1% in January-April of 2021 year-on-year, show preliminary data from the National Statistics Office of Georgia (Geostat).
The Georgian economy is expected to grow 6.5% in 2021, according to Georgian Finance Minister Lasha Khutsishvili. He added that "the economy is forecast to grow 6.9% in 2022.” He also said that in an optimistic scenario, economic growth in 2021 is projected at 10.2%.
Georgian Finance Minister Lasha Khutsishvili claims Georgia will be a country whose economy will recover one of the fastest in the post-pandemic period. "There are many factors that actually give us the opportunity to say that the process of economic recovery this year will be fundamentally different", Khutsishvili said.
The World Bank has approved $34.5 million in additional financing today to support Georgia’s efforts to provide affordable and equitable access to Covid-19 vaccines, and ensure effective vaccine deployment in the country by strengthening the vaccination system, announces the World Bank.
The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023, says the June edition of the World Bank’s report Global Economic Prospects 2021.
Topics of climate change and global security, as well as work of Georgian institutions for facilitating green growth, were on the agenda in Tbilisi on Wednesday, as the Ministry of Environmental Protection and Agriculture of Georgia, the Embassy of Italy and the Embassy of the United Kingdom co-hosted an event in the run-up to the UN Climate Change Conference (COP26).
A natural gas field with a volume of 16 billion cubic metres has been discovered near the Georgian capital city of Tbilisi, Giorgi Tatishvili, the Head of the State Oil and Gas Agency, told local media outlet BMG on Monday.