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Most countries ‘woefully unprepared’ for changing climate: analysis
Some middle-income nations lack the infrastructure and
legislative freedom to keep pace with the changing climate.
Photo: Prakash SINGH / AFP/File
Major economies such as India, Brazil and Russia face “cascading” crises driven by climate change such as food insecurity, energy shortages and civil unrest, an industry analysis warned Thursday.
While developing nations of Africa and Southeast Asia are predicted to be worst hit by higher temperatures, extreme weather and sea-level rise, some middle-income nations lack the infrastructure and legislative freedom to keep pace with the changing climate.
And, as Europe counts the cost of another record-shattering heatwave, the analysis showed how even nations with typically few climate-linked crises will need to adapt as global temperatures rise.
The analysis looked at countries’ performances across 32 structural issues — including weather-related events, political stability, economic power, resource security, poverty and human rights — to assess each nations’ capacity to manage crises.
Unsurprisingly, most wealthy nations performed well and were found to be the most insulated against climate shocks thanks to a combination of good governance, purchasing power and robust infrastructure.
Developing nations were mainly deemed to be in the vulnerable category for lacking these safeguards. Several middle-income countries, however, including India, Indonesia and South Africa also fell into this grouping.
Risks will spill over
“The low levels of investment in looking at the secondary risks show that most countries are almost entirely unprepared to deal with the wider political, economic and developmental impacts of a warming planet,” said the analysis.
Will Nichols, head of climate and resilience at consultancy firm Verisk Maplecroft that conducted the assessment, said the major surprise was in the middle — or the “precarious” category — which contained powerhouses such as Brazil, Mexico, Russia and Saudi Arabia.
“A slight change could see it drop into that bottom group and we are certainly seeing the erosion of environmental and social protections under (President Jair) Bolsonaro.
“In Russia, Arctic infrastructure is going to be undermined by warming and you could see a leader like (President Vladimir) Putin point the finger at other groups and seek to expand its territory,” Nichols said.
Although a G20 economy, Mexico landed in the precarious category largely due to its proximity to Central and South American nations such as Venezuela facing extreme climate-linked disruption, particularly in the form of mass migration.
“These risks aren’t contained by political boundaries, they will spill over,” said Nichols.
“Even if you have your house in order, if your neighbour is a basket case that can seriously undermine your ability to protect yourself.”
‘Don’t have resilience’
Under the UN-led climate action plan, rich nations promised in 2009 to provide $100 billion annually to at-risk countries by 2020 but have so far failed to even approach that level of funding.
Nichols said the analysis showed the need for developed countries to help nations that cannot help themselves.
“We’ve seen relatively small amounts of people arriving in Europe and the US due to climate impacts causing major issues,” he said.
“There’s an argument that we as insulated nations have a responsibility to help vulnerable nations to protect themselves, which in turn helps protect us.”
Nichols said this week’s deadly heatwave in Europe was proof that even rich countries needed to factor climate change into future business and governance decisions.
“The scale of the climate threat isn’t diminishing — it is obviously going to have a huge impact,” he said.
“But countries in Sub-Saharan Africa, Southeast Asia and South America don’t have the resilience to manage both the physical climate threat and the knock-on effects of political and supply chain instability.”
Source: AFP
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) successfully held its sixth (6th) Exchange Programme, hosted by the Ghana Export – Import Bank (GEXIM) Bank in Accra from March 22 to 23 March.
The event brought together member institutions, partner organisations and Ghanaian public entities to advance dialogue on South-South trade, investment and development finance, while also creating opportunities for knowledge-sharing and institutional cooperation.
Organised as a capacity-building and networking platform, the 2026 edition of the G-NEXID Exchange focused on GEXIM’s experience in developing innovative solutions to promote intra-African and extra-African trade.
It also highlighted trade and investment opportunities in Ghana, particularly in the context of the African Continental Free Trade Area (AfCFTA) and broader national development initiatives.
The Exchange Programme forms part of G-NEXID’s mandate to foster cooperation among export-import banks and development finance institutions in support of South-South trade and investment.
This 6th edition follows earlier successful programmes hosted by India Exim Bank (2016), BNDES (2017), Indonesia Eximbank (2018), Afreximbank (2019) and Saudi EXIM Bank (2025).
On the first day, participants were presented with G-NEXID institutional information and received an update on the Network’s 2026 work programme.
There were a series of substantive presentations, including an overview of the Ghanaian economy by the Ministry of Finance, with particular attention to debt-related challenges; a presentation by the Ghana Investment Promotion Centre (GIPC), on investment opportunities in the country; and institutional presentations by GEXIM and Development Bank Ghana (DBG) on their respective mandates, initiatives, products and services.
Discussions during the sessions underscored strong interest in sector-focused webinars and business dialogues, particularly in agribusiness value chains such as poultry and rice.
Participants also emphasized the importance of continued information exchange and the sharing of best practices, especially in the area of guarantees.
The second day opened with a presentation on the 24-Hour Economy and Accelerated Export Development Programme, a national economic transformation strategy launched by President John Dramani Mahama in July 2025.
The initiative aims to enhance economic productivity through continuous industrial activity, accelerated export development and strategic import substitution.
As the programme is expected to mobilise both private and development capital, it presents concrete opportunities for G-NEXID members in areas such as co-financing, guarantees, trade finance and technical cooperation.
The programme also featured institutional presentations by guest organisations, namely the African Guarantee and Economic Cooperation Fund (FAGACE) and the West African Development Bank (BOAD), which shared their mandates, initiatives, products and services.
Following these exchanges, the G-NEXID Secretariat held bilateral discussions with both institutions as part of the Network’s ongoing membership drive.
Participants further benefited from a presentation by the Eastern and Southern African Trade and Development Bank (TDB), as well as a showcase of GEXIM’s key pipeline projects.
On the margins of the Exchange Programme, G-NEXID members also held their 20th Annual General Assembly Meeting to review progress and discuss strategic priorities.
Following the event, participants joined the GEXIM@10 International Conference, held from March 24-25, 2026 under the theme, “A Decade of Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier.”
The conference provided an important platform for exploring how Ghana can strengthen its transition from a primary commodity exporter to a more competitive player in value-added trade and industrial development.
Source – G-NEXID
President John Dramani Mahama on Tuesday, March 31, 2026, signed five bills including three amendment bills passed by Parliament into law.
They are: Security and Intelligence Agencies Bill, 2025; University of Engineering and Agricultural Sciences Bill, 2025; Ghana Deposit Protection (Amendment) Bill, 2025; Growth and Sustainability Levy (Amendment) Bill, 2026; and Education Regulatory Bodies (Amendment) Bill, 2026.
In a brief remark after assenting to the bills, President Mahama explained that the Security and Intelligence Agencies Act, 2026, scraps the Office of Minister of National Security and frees the President’s to appoint any Minister to supervise the security agencies.
He said it also reverses the name of the office of National Intelligence Bureau (NIB), to the original name, Bureau of National Intelligence, (BNI).
This the President said, addresses the confusion between that security agency and a well-known Ghanaian financial institution, the National Investment Bank.
President Mahama also noted that the University of Engineering and Agricultural Sciences Act, 2026, establishes another University in the Eastern Region, at Bonsu, with three campuses – the main campus at Bonsu in the Eastern Region, with the second campus to be cited at Ohawu in the Oti Region.
The third, the Presdient assed will be located at Acherensua in the Ahafo Region.
Touching on the Amendment to the Growth and Sustainability Levy Act, the President said, “As you’re aware, the act was amended to increase it from 1% to 3%, and so this act reduces it again. That is the levy on mining companies. It reduces it again to 1%, because of the introduction of the sliding scale of royalties.”
He also spoke to the passage of the Government Education Regulatory Bodies Amendment Act, emphasising that amends Act 1023 to grant greater flexibility to private tertiary institutions and the option to Charter.
The Ghana Deposit Protection Amendment Act, the President concluded, is an amendment to an original act that was supposed to guarantee deposits held in commercial banks or financial institutions.
It basically expands protection to include mobile money wallets and other digital platforms, ensuring a wider scope of digital financial assets are secured.
The signing ceremony, was witnessed by the Clerk of Parliament, Mr. Ebenezer Ahumah Djietror, Secretary to the President, Dr Callistus Mahama, the Minister of Justice and Attorney General, Dr Dominic Akrutinga Ayine, Chief of Staff, Julius Debrah, Joyce Bawa Mogtari, a Senior Presidential Advisor and a Special Aide to the President, Finance Minister, Dr Cassiel Ato Baah Forson, and the Vice President, Professor Jane Naana Opoku Agyemang.
