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Rising workplace heat could cost Maldives USD 1.7 billion a year by 2060:ILO
An International Labour Organization study projects that rising workplace heat could cost the Maldives nearly USD 1.7 billion in economic output annually by 2060 under a very high-emissions scenario, about 10.5 percent of projected GDP. In 2023, increased workplace heat was estimated to have cost USD 364.3 million in output and more than 3.3 million working hours, with services accounting for the largest share of losses.
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Maldives VoiceNews outlet
Rising workplace heat could cost Maldives USD 1.7 billion a year by 2060:ILO
nearly USD 1.7 billion Projected annual economic output loss from workplace heat by 2060 (very high-emissions scenario)
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nearly USD 1.7 billionProjected annual economic output loss from workplace heat by 2060 (very high-emissions scenario)Maldives VoiceRising workplace heat linked to climate change could cost the Maldives nearly USD 1.7 billion in economic output annually by 2060, according to a study published by the International Labour Organization (ILO).
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about 10.5 percentProjected loss as share of projected GDPMaldives VoiceThe projected loss, equivalent to about 10.5 percent of the country’s projected GDP, falls under the study’s very high-emissions scenario, in which global economic development remains heavily dependent on fossil fuels.
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approximately USD 1.46 billionProjected annual economic output loss from workplace heat by 2060 (low-emissions pathway)Maldives VoiceEven under a low-emissions pathway, annual losses could reach approximately USD 1.46 billion by 2060.
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USD 364.3 millionEconomic output lost to increased workplace heatMaldives VoiceIn 2023, increased workplace heat was estimated to have cost the Maldives USD 364.3 million in output and more than 3.3 million working hours compared with the historical baseline.
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more than 3.3 millionWorking hours lost to increased workplace heatMaldives VoiceIn 2023, increased workplace heat was estimated to have cost the Maldives USD 364.3 million in output and more than 3.3 million working hours compared with the historical baseline.
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1,663 full-time workersAnnual working time equivalent of lost hoursMaldives VoiceThose lost hours were equivalent to the annual working time of 1,663 full-time workers.
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USD 252.6 million, or 69.3 percentServices sector share of estimated additional economic lossesMaldives VoiceServices accounted for USD 252.6 million, or 69.3 percent, of the estimated additional economic losses in 2023.
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nearly USD 1.16 billionProjected annual services sector lossesMaldives VoiceBy 2060, annual losses in services alone could reach nearly USD 1.16 billion under the very high-emissions scenario.
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approximately USD 216 millionAvoided annual economic losses from lower emissions pathwayMaldives VoiceThe report estimates that the difference between the low-emissions and very high-emissions pathways could amount to approximately USD 216 million in avoided annual economic losses by 2060, highlighting the importance of global emissions reductions alongside domestic adaptation.
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