Asia needs to spend much more to adapt to climate change and limit its damage, bank study says

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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.

By some estimates, poverty could increase by 64%–117% by 2030 under a high-emissions climate scenario, relative to no climate change, and the entire regional economy could fall by about 17%.

The report noted that the rate of sea level rises is about double the global average in the Asia-Pacific and about 300 million people in the region would face the risk of coastal inundation if sea ice in Antarctica collapses.

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Article Details

Author / Journalist: Elaine Kurtenbach / AP Business Writer

Category: BusinessStartups

Markets: PhilippinesAntarcticaBangladeshChinaIndiaIndonesiaJapanMalaysiaVietnam

Topics: Climate crisis Asia Carbon emissions Asia Photo Gallery Fossil fuel subsidies Asia Today Environmental policy Asia. Renewable energy Environment Asian Development Bank Regional emissions Asia climate change Climate loss and damage Sea level rise Economic impact climate change Climate Change Climate adaptation costs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 07:30:47 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 967 words

Reading Time: 6 minutes read

Sentences: 27 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23368935

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