Asian Development Bank urges $102-431 billion annual climate change adaptation funding, highlighting 17% GDP decline by 2070 and risks to 300 million people.

The Asian Development Bank warns that Asian countries must significantly boost climate change adaptation funding, needing $102 to $431 billion annually, far above the $34 billion allocated for 2021-2022. The report highlights a potential 17% GDP decline by 2070 due to climate impacts, with rising sea levels posing risks to 300 million people. It calls for clearer pathways to net-zero emissions and emphasizes the job-creating potential of aggressive decarbonization efforts.

October 31, 2024
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