Asian Development Bank launches regional review of Economics of Climate Change in South East Asia
The Asian Development Bank, in collaboration with the British Government, have undertaken a 15 month long study to enrich debate on the economics of climate change in South East Asia (with a particular focus on Indonesia, the Philippines, Singapore, Thailand and Vietnam), raise awareness of the challenges arising from the impacts of climate change on the region and build consensus among governments, the private sector and within society of the need to incorporate mitigation and adaptation measures into national planning processes.
South East Asia is one of the world's most vulnerable regions to climate change due to its long coastlines, high concentration of population and economic activity in coastal areas, and heavy reliance on agriculture, natural resources, and forestry.
Climate change is already affecting the region, as shown by the increasing frequency and intensity of extreme weather events such as heat waves, droughts, floods and tropical cyclones in recent decades. It is exacerbating water shortages, constraining agricultural production and threatening food security, causing forest fires and coastal degradation, and increasing health risks.
The worst is yet to come. Under a high emissions scenario, the annual mean temperature in Indonesia, Philippines, Thailand, and Viet Nam-is projected to rise 4.8°C by 2100 from the 1990 level on average; the global mean sea level is projected to rise by 70 centimeters during the same period, with dire consequences for the region; and Indonesia, Thailand, and Viet Nam are projected to see increasingly drier weather in the next 2-3 decades.
South East Asia is likely to suffer more from climate change than the global average. The mean cost of climate change for the four countries-if the world continues "business-as-usual" and if market and non-market impacts and catastrophic risks are all considered-could be equivalent to losing 6.7% of combined gross domestic product (GDP) each year by 2100, more than twice the global average loss.
Climate change could seriously hinder South East Asia's sustainable development and poverty reduction efforts. Combating climate change requires urgent action on both adaptation and mitigation-there is no time for delay.
For more information, please visit:
http://www.adb.org/Documents/Books/Economics-Climate-Change-SEA/default.asp
Related Countries:
Indonesia, Philippines, Singapore, Thailand, Vietnam
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