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British International Investment – Emerging Economies Climate Report 2023

The BII reports that the climate emergency is having a devastating impact on emerging economies. Without decisive action, this will only become more severe as global temperatures rise and as countries transition toward net zero.

At the same time, the technologies and business models driving the net zero and resilient transition are the growth story of the 21st century. The benefits of this green growth have the potential to deliver prosperity to emerging and developed economies alike.

Responding to climate change risks and opportunities requires scale of action. It also requires urgency as global temperatures continue to rise. 2023 was a record-breaking year at 1.48°C above pre-industrial levels.

Emerging economies are among the nations most exposed to and the least prepared for the effects of climate change. This is particularly the case across Africa, South and South-East Asia, and the Caribbean.

This research highlights that climate change impacted more firms in emerging economies in 2023 than the already high levels of impact seen in 2022 and 2021. In addition to more respondents actually experiencing physical climate change, concerns about both physical climate risks and transition risks have increased.

Read the full report below.

Download PDF • 2.70MB


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