Asia needs to spend more to adapt to climate change, limit damage: Study

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Countries in Asia will suffer worse damage from the climate crisis than other regions and are falling far behind in spending on improvements to limit the damage and adapt to changing weather patterns and natural disasters, the Asian Development Bank said in a report released Thursday.

Developing Asia accounted for nearly half of all global emissions in 2021, the latest year for comprehensive data, with China accounting for two-thirds of that and South Asia nearly 20 per cent, the report said.

The report said financing needs in developing Asian countries to cope with climate change range from USD 102 billion to USD 431 billion a year.

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Category: BusinessFinance

Markets: IndiaAntarcticaBangladeshChinaIndonesiaJapanPhilippinesVietnam

Topics: Gross domestic products Oil Climate change adaptation Climate change and society Effects of climate change Development bank North America Cleaner energy Manila National security Natural disaster Europe Disasters South Asia Asia-Pacific Energy sector jobs Asia Renewable energy Asian Development Bank Climate change Climate change and poverty

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 10:36:49 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 678 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23345476

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