Our climate is changing at an unprecedented rate, and coastal areas are at the greatest risk. According to the forecasts by Intergovernmental Panel on Climate Change (IPCC), by the end of this century, sea levels could be as much as 1.1 meters higher than today, and severe flooding events will become a regular occurrence in low-lying cities. Mumbai could experience a 25% increase in flash-flood intensity events by 2050, with average flood depth nearly doubling from 0.46m to 0.82m. In addition, the flooded area would increase from 46% to 60%, escalating damage costs from USD 580 million to 950 million and affecting the lives of two to three million people living within 1 km of the coastline. The costs involved in building resilience to climate change in the developing world alone can range between US$140 to 300 billion by 2030 and between US$280 and 500 billion by 2050.
In light of this, Climate Crisis 2.0 Summit 2022 brought together various stakeholders involved in Climate Action and Financing Climate resilient infrastructure & projects and giving Mumbai city’s infrastructure a climate proof financial and industrial boost. The Climate Crisis 2.0 Summit 2022, organised by Mumbai First with the support of Government of Maharashtra, Government of India and the EU, was held on 12 – 13 May 2022 at Trident, Oberoi.