New Delhi
India could experience a staggering 24.7% loss in GDP by 2070 due to climate change, particularly under a high-emission scenario. The report, featured in the inaugural “Asia-Pacific Climate Report,” highlights the severe impacts of rising sea levels and decreasing labor productivity across the region, with lower-income economies projected to be hit the hardest, According to a report on Thursday.
If current climate trends continue, up to 300 million people in the Asia-Pacific region may face risks from coastal flooding, resulting in trillions of dollars in potential damage to coastal assets by 2070. ADB President Masatsugu Asakawa emphasized the urgent need for coordinated climate action to address these escalating threats, stating that climate change has exacerbated the damage from natural disasters such as storms and floods, leading to unprecedented economic challenges.
Overall, the report indicates that the GDP loss for the Asia-Pacific region could reach 16.9% by 2070, with many countries, including Bangladesh (30.5%), Vietnam, and Indonesia, facing significant declines. Developing Asia has accounted for most of the increase in global greenhouse gas emissions since 2000, contributing to 45.9% of global emissions by 2021. Moreover, more variable rainfall and extreme storms are expected to cause increased flooding and landslides, particularly in mountainous regions, significantly affecting infrastructure and livelihoods.
The report forecasts that annual economic damage from riverine flooding in Asia and the Pacific could reach $1.3 trillion by 2070, with India expected to face the highest number of affected individuals and associated damages
