Finance

Air pollution costs global economy $225bn, World Bank says

Tuesday, 13 September 2016 21:40

In a joint study entitled “The cost of air pollution: Strenghtening the economic case for action, the World Bank and the Institute for Health Metrics and Evaluation (IHME)” said air pollution is the fourth cause of premature deaths in the world. Losses in work revenues associated to these deaths have been estimated to around $225 billion, in 2013, the study highlights.

Air pollution sources are diverse and varied. There is dust, dirt, vapors, gases, microscopic droplets and heavy metals.

In 2013, 5.5 million people died from diseases related to external and internal air pollution; deaths that directly impact economic growth according to the study.

The first victims of this plague are young children and old people and people who have the age to work in regards to losses in work revenues. In Sub-Saharan Africa, work revenue losses, due to deaths caused by air-pollution, represent each year 0.61% of GDP. In Middle East and North Africa, these losses were estimated to more than $9 billion, in 2013, the study adds.

“Air pollution is a challenge that threatens basic human welfare, damages natural and physical capital, and constrains economic growth. We hope this study will translate the cost of premature deaths into an economic language that resonates with policy makers so that more resources will be devoted to improving air quality. By supporting healthier cities and investments in cleaner sources of energy, we can reduce dangerous emissions, slow climate change, and most importantly save lives,”saidLaura Tuck, Vice President for Sustainable Development at the World Bank.

Alain Okpeitcha

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