indian economy
The Asian Development Bank has conducted a study on global warming which tells something worrying for India and Asia as a whole. The report states that by 2070, 300 million people will be at risk of having their lands submerged by seawater.
The report said that if carbon emissions continue to increase at this rate, economic growth in the Asia-Pacific region may decline by 16.9% by 2070. India’s GDP is expected to decline by 24.7%.
Low-income people suffer the most
The report shows that low-income and vulnerable economies will be hardest hit by rising sea levels and reduced work capacity. The Asian Development Bank’s Asia-Pacific Climate Report provides information on harmful impacts in the region.
Coastal flooding threatens 300 million people
The report says 300 million people could be at risk of coastal flooding if the climate crisis intensifies. Coastal property could suffer billions of dollars in damage by 2070
ADB President Masatsugu Asakawa said climate change is exacerbating the damage caused by storms, heat waves and floods in the region. This is causing a serious economic and humanitarian crisis. Solving these problems requires immediate action and careful planning, he said.
Bangladesh suffered the heaviest losses
The report said that by 2070, the Asia-Pacific region’s GDP may decline by 16.9% due to climate change. Many areas in the region will face losses of more than 20%.
Countries with the greatest risk of losses include Bangladesh 30.5%, India 24.7%, Southeast Asia 23.4%, high-income Southeast Asia 22%, Pakistan 21.1%, the Pacific 18.6% and the Philippines 18.1%.
