A study by the World Bank on Thursday said urgent action is needed to address rising sea levels in the Pacific atoll islands of Kiribati, the Marshall Islands and Tuvalu, which under current projections could be 50% to 80% submerged in the next 50 years. The World Bank’s “Pacific Atoll Countries Country Climate and Development Report” says the low-lying nations and the roughly 200,000 people who live on them face some of the most severe existential threats from climate change of any region in the world. The study cites projected sea level rises of up to a half meter in the last half of this century and suggests 50% to 80% of major urban areas in the countries could be underwater. The region is already seeing annual losses from climate events — such as more frequent and powerful storms — equivalent to 7% of the total economic output in Tuvalu. About …