Climate change an economic disaster for South East Asia
The Asian Development Bank has released a report revealing the true cost of climate change for South East Asia, one of the world’s most vulnerable regions. Climate change would see a decline in combined gross domestic product (GDP) by almost seven percent by 2100, twice that of the global average loss.
Food and water shortages and high economic costs will have the biggest impacts, stated the report. Unfortunately, worldwide recession has delayed climate change initiatives at a time when environmental investment schemes such as renewable energy schemes should come to the fore, noted the study.
Particularly vulnerable were the developing nations of The Philippines, Thailand and Vietnam, all of which rely heavily on agriculture, forestry and other natural resources.
The prediction wasn’t just dire for the region’s economy: “More people will be at risk of hunger and malnutrition, which will cause more deaths. The possibility of local conflicts may increase,” said the report.