New Delhi : Asian Development Bank i.e. ADB has recently presented the Asia-Pacific Climate Report. On the basis of this report, it is being said that climate change will have a direct impact on India's economy as well. This report has shown that under the high carbon emission scenario, there could be a loss of 16.9 percent in the gross domestic product (GDP) in the Indo Pacific region by the year 2070 due to climate change. A new report has also estimated that there could be a loss of 24.7 percent in GDP in India.
The report says rising sea levels and declining labor productivity will cause the greatest harm, with low incomes and vulnerable economies being hit hardest.
damage to coastal assets
New research presented in the first issue of the Asian Development Bank (ADB) 'Asia-Pacific Climate Report' details a number of harmful impacts threatening the region. It says that if the climate crisis continues to accelerate, 300 million people in the region could be at risk of coastal inundation, and coastal assets worth trillions of dollars could be damaged every year by 2070. “Climate change is exacerbating the devastation caused by tropical storms, heat waves and floods in the region, leading to unprecedented economic challenges and humanitarian crises,” said ADB President Masatsugu Asakawa.
Promising Policy Recommendations
He said urgent, well-coordinated climate action is needed to tackle these impacts before it is too late. He said this Climate Report provides insights about financing urgent adaptation needs and offers promising policy recommendations to the governments of our developing member countries on how to reduce greenhouse gas emissions at the lowest cost.
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will have to face loss
The report said that by 2070, under the high emissions scenario, climate change could lead to a total loss of 16.9 percent of GDP in Asia and the Pacific region. Most parts of this region will face losses of more than 20 percent. According to the report, among the countries and subregions assessed, these losses were in Bangladesh (30.5 per cent), Vietnam (per cent), Indonesia (per cent), India (24.7 per cent), 'Rest of Southeast Asia' (23.4 per cent), high-income South are concentrated in East Asia (22 percent), Pakistan (21.1 percent), the Pacific (18.6 percent) and the Philippines (18.1 percent).”
(with agency input)
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