Climate change represents a huge threat to developing countries.
A new study comes to some very frightening conclusions for poor countries, already struggling economically — their problems are about to get bigger thanks to climate change.
A new study shows that global warming will force fish to move closer to the poles to get away from the rising heat. Since most wealthy nations are closer to the poles and poorer countries tend to be near the equator, that will put a major strain on them financially, according to a Weather.com report.
A team of scientists out of Arizona State University, Yale, Rutgers, and Princeton have just published a study in Nautre Climate Change that shows global temperatures will move fish, a vital food resource, toward the poles, resulting in a huge redistribution of wealth, and not in the favor of poor countries. They found this by analyzing fish migration data and simulating the changes in the future.
Countries in coastal Africa and southern Asia are particularly dependent on fisheries for survival, as well as alot of oceanic nations located near the equator. In some low-income countries, fish provide 25 percent or more of animal protein consumed, according to the report.
“People are mostly focused on the physical reallocation of these assets, but I don’t think we’ve really started thinking enough about how climate change can reallocate wealth and influence the prices of those assets,” Eli Fenichel, an assistant professor at the Yale School of Forestry & Environmental Studies, said in a statement. “We think these price impacts can be really, really important.
“We don’t know how this will unfold, but we do know there will be price effects. It’s just Economics 101 — prices reflect quantity and scarcity and natural capital is hard for people to move,” he added. “It’s as inevitable as the movement of these fish species.”