GUWAHATI: The Asian Development Bank (ADB) projects that India could experience a staggering 24.7% reduction in GDP by 2070 if climate change remains unchecked.
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This severe economic impact would come from rising sea levels, reduced labour productivity, and intensified extreme weather events, with lower-income and vulnerable economies expected to bear the brunt.
The report, featured in ADB’s inaugural Asia Pacific Climate Report, outlines the grave economic and human costs posed by the climate crisis to the Asia-Pacific region. High-end emissions could cost the region up to 16.9% of its GDP, with most of Asia-Pacific likely to see losses exceeding 20%.
The hardest-hit countries include India, China, Bangladesh, Vietnam, Indonesia, Pakistan, the Philippines, and Pacific island nations. The report underscores how Asia’s burgeoning greenhouse gas emissions since 2000 have propelled the region into a leading role in global climate impact.
China had alone accounted for 30% of global emissions in 2021.
The ADB report finally emphasises that adaptation financing and policy interventions are crucial to mitigate these risks. It has offered strategic recommendations to reduce greenhouse gas emissions and sustain economic growth despite the rising challenges posed by climate change.