• The general population who depend on those companies for basic supplies Gibraltar has virtually no domestic agricultural or manufacturing industries , so the vast majority of essential goods like food , medicine and clothing are imported . The result is that extreme weather events in other countries - such as droughts which destroy crops - will impact the delivery times and prices of goods within Gibraltar . The overwhelming reliance on the UK and Spain for most of our goods ( 90 % of imports combined ) mean that if either or both of those countries were to suffer climaterelated supply issues , Gibraltar could face severe shortages of basic necessities unless it broadens its range of trading partners .
Basic foods projected to suffer the worst shocks in terms of supply shortages and rapid price increases include most grains and grain-based foods , chocolate , coffee and tea , beers and wine , many seafood varieties , and a wide range of fruit including bananas and avocados .
Risk : Increased energy prices Key vulnerabilities :
• Low-income families whose electricity bills could become a financial burden
• Energy-intensive industries like ship / motor repair businesses , supermarkets and some restaurants whose operating costs could grow considerably
The need to decarbonise our energy supply by increasing the quantity of renewable energy we generate will require significant capital expenses . Additionally , many countries are rolling out carbon taxes which could have knock-on effects on the price of the natural gas and diesel we import to power our generators . These costs will either have to be borne by the Government ( which is ultimately funded by the taxpayer ) or passed directly on to consumers in the form of higher electricity bills . Those families who are lowest on the income ladder will suffer the most from this , given that energy bills account for a relatively higher proportion of their income . In that sense , rising energy prices have the same impact as a regressive tax .
Risk : Infrastructural and property damage Key vulnerabilities :
• Properties in at-risk areas , particularly those on ground level ( flood risk ), near beaches ( storm surge damage ) or in low-lying areas like northern Gibraltar ( prone to sea level rise ) who may face greater repair costs and increases in home insurance premiums
Author : Ryan Robba
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