Universities grant the highest degrees of the education system: Bachelor, Master and PhD degrees. In this way, they help shape the economic and political leaders and managers of tomorrow.
Climate change is now affecting every country on every continent. It is disrupting national economies and affecting lives, costing people, communities, and countries dearly today and even more tomorrow. Weather patterns are changing, sea levels are rising, weather events are becoming more extreme and greenhouse gas emissions are now at their highest levels in history. Without action, the world’s average surface temperature is likely to surpass 3 degrees centigrade this century. The poorest and most vulnerable people are being affected the most. At the same time, we have never had better know-how and solutions available to avert the crisis and create opportunities for a better life for people all over the world.
Climate change is not just a long-term issue. It is happening today, and it entails uncertainties for policymakers trying to shape the future. Climate change increases the costs of development in the poorest countries by between 25 and 30 percent. For developing countries, the annual cost of infrastructure that is resilient to climate change is around $1.2 trillion to $1.5 trillion, resulting in a yearly $700 billion gap in financing. It will take combining efforts of development banks, financial institutions, export credit agencies, institutional investors, and public budgets to meet the climate and development challenges.