Inaction on emissions could cut developing Asia's GDP by 17% by 2070, ADB says

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MANILA - Developing Asia faces a potential 17% loss in its collective gross domestic product (GDP) by 2070 if high emissions persist, the Asian Development Bank (ADB) said on Thursday, underscoring the urgency for stronger and more ambitious climate action.

The ADB counts 46 Asia-Pacific countries as developing Asia, stretching from Georgia to Samoa and excluding Japan, Australia and New Zealand.

The energy sector is the region's largest emitter, responsible for 77.6% of total emissions, driven by a heavy reliance on fossil fuels.

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Category: EconomyBusiness

Markets: SingaporeAustraliaChinaGeorgiaJapanNew ZealandSamoa

Topics: China Warming Action Climate Developing Asia Global 2021 March Emissions Region

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 13:15:25 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 507 words

Reading Time: 3 minutes read

Sentences: 25 lines

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Copyright Owner: © The Straits Times

News ID: 23345859

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