According to an ADB report, India could face a 24.7% GDP loss by 2070 due to climate change.
Economy Business
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.
- 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.
Main Points:- (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).
About Asian Development Bank (ADB)
President: Masatsugu Asakawa
Headquarters- Manila, the Philippines
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