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BANGKOK -- 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, October 31, 2024.The report said financing needs in developing Asian countries to cope with climate change range from $102 billion to $431 billion a year.
At the same time, higher temperatures are hurting worker productivity and health, said the report, which estimated that regional economies might see their gross domestic products decline by 17 percent by 2070 in a worst-case scenario of high carbon emissions. Such a scenario would also result in a doubling of the destructive power of tropical cyclones and storms, as weather grows more volatile and extreme.
Climate Change Impacts Asian Development Bank Climate Crisis
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