OECD Warns Global Drought Risk Doubling Costs to Rise Sharply by 2035
The world is facing an alarming surge in drought risks, with the total land area affected by drought doubling over the last 120 years, according to a new report from the Organisation for Economic Co-operation and Development (OECD). The cost of droughts is also expected to rise sharply with an average drought in 2035 projected to cost at least 35% more than today.
The OECD Global Drought Outlook: Trends, Impacts and Policies to Adapt to a Drier World reveals that climate change is the primary driver behind the worsening frequency and intensity of droughts. Nearly 40% of the planet has experienced more frequent and severe droughts in recent decades, threatening not just agriculture but also trade, energy production, and industry.
“Co-ordinated policy action across levels of government...









