Given the massive scale of investments required to build and sustain physical capital at the state level, it is imperative to ensure physical capital decisions consider climate resilience; not least because retrofitting and replacing are both highly costly. The World Bank estimates that adapting over the period 2010-2050 to a world that is 2ºC warmer by 2050 will cost USD 70 billion to USD 100 billion per annum, with the infrastructure sector accounting for the largest share of costs . At the same time, every USD 1 invested in preventive measures can save USD 5 of repairs . While adequate financing and technical expertise are required,
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report