Visit http://news.trust.org The Paris Climate Agreement will cost 45 Asian developing economies $300bn per year until 2050, according to research by the Asian Development Bank. But a new report from Oxfam suggests that this figure could be cut in half if countries like India and China were given more time to implement their climate policies. With the right strategy, the bank says that Asia can generate more than $2 in gains for each $1 in costs.
The Paris Climate Agreement will cost 45 Asian developing economies $300bn per year until 2050, according to research by the Asian Development Bank. But a new report from Oxfam suggests that this figure could be cut in half if countries like India and China were given more time to implement their climate policies. With the right strategy, the bank says that Asia can generate more than $2 in gains for each $1 in costs.