TestCloud
Prep • Practice • Perform
Log In

According to an ADB report, India could face a 24.7% GDP loss by 2070 due to climate change.

Economy Business | Dated: 14 Nov 2024

According to the inaugural edition of ADB's report titled "Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions", climate change under high-end emissions scenarios could potentially lead to a 16.9% loss in GDP by 2070 across the Asia-Pacific region, with India projected to witness a 24.7% GDP decline.

🎯 Key Highlights:

  • - It has further estimated that Asia-Pacific will experience 41% loss in GDP by 2100.
  • - The report has outlined rising sea levels and decreasing labour productivity as the most significant contributors to the losses, with lower-income and vulnerable economies being affected the most.

💡 Other Important Facts:

  • (i) Among the countries and sub-regions assessed by the report, losses are prominent in Bangladesh (30.5%), Vietnam (30.2%), Indonesia (26.8%), India (24.7), the rest of Southeast Asia (23.4%), higher-income Southeast Asia (22%), Pakistan (21.1%), the Pacific (18.6%), and the Philippines (18.1%).
  • (ii) The report highlighted that Developing Asia has accounted for most of the increase in global GHG emissions since 2000.
  • (iii) As per the report, the share of global GHG emissions by the Asia-Pacific region has increased from 29.4% (in 2000) to 45.9% (in 2021).

📚 Test Your Knowledge:

Recently, according to an ADB report, India is projected to face a GDP loss of how much by 2070 due to climate change?

Correct Answer: 24.7%

🚀 Quick Recap:

About Asian Development Bank (ADB)

  • President: Masatsugu Asakawa
  • Headquarters- Manila, the Philippines