Asia-Pacific Region Faces Massive GDP Loss Due to Climate Change by 2070

A new ADB report highlights a potential 16.9% GDP loss in Asia and the Pacific by 2070 due to climate change. India could face a 24.7% loss, driven by factors like rising sea levels and lowered labor productivity. Urgent climate action is needed to mitigate these impacts.

A report from the Asian Development Bank warns of a staggering 16.9% GDP loss in the Asia-Pacific region by 2070 if current high emissions persist. India alone could suffer a 24.7% drop in GDP due to climate factors like rising sea levels and declining labor productivity.

The report outlines that low-income and vulnerable economies will be hit hardest, exacerbating economic challenges already faced by these regions. ADB President Masatsugu Asakawa emphasizes the need for immediate and coordinated action to address climate impacts before it's too late.

The study also details how the rapid increase in global greenhouse gas emissions is primarily driven by developing Asia, noting a sharp rise in emissions from 29.4% in 2000 to 45.9% in 2021, primarily due to China. It stresses the importance of implementing policies for emissions reduction across the region.

(With inputs from agencies.)