Rising Sea Level to impact Population in India: Moody’s Report

The US-based credit rating agency Moody’s Corporation in its report on the consequences of rising sea level due to global warming has stated that the Asian countries, especially the Middle East and the North Africa countries (MENA) are the most exposed to credit risk, with some high-income economies such as Japan and Netherland also are exposed. Sea levels have always been a credible threat for identified countries by the Moody’s as from now several decades will be determined by temperatures and past greenhouse gases.

Larger population countries of Asia are categorized in absolute terms as following in Moody’s report: India (Baa2 negative), China (A1 stable), Bangladesh (Ba3 stable) and Indonesia (Baa2 stable). The report also stated that as the credit implications are wide-ranging that included likes of damage to assets, forced migration, loss of life, etc, a number of small islands and countries like Vietnam, Suriname and Egypt face material credit risk.

Month: Current Affairs - January, 2020