The Asian Development Bank (ADB) has announced that it will provide $6bn a year to help finance projects in South Asia countries that will help mitigate the impacts of climate change, which include floods and droughts which are destroying livelihoods. ABD reports that Asia-Pacific could lose 8.8% of its annual GDP by 2100 and Southeast Asia could lose 6.7% of its GDP a year, if methods﻿﻿ to tackle the impacts of climate change are not implemented. $4bn of the funds will be used to finance renewable energy, improving building energy efficiency, as well as a more sustainable transport system. The additional $2bn will be used to create a more secure infrastructure in preparation for climate related weather.
The Asian Development Bank (ADB) has announced that it will provide $6bn a year to help finance projects in Asia-Pacific countries that will help mitigate the impacts of climate change, which include floods and droughts which are destroying livelihoods. ABD reports that South Asia could lose 8.8% of its annual GDP by 2100 and Southeast Asia could lose 6.7% of its GDP a year, if methods﻿﻿ to tackle the impacts of climate change are not implemented. $4bn of the funds will be used to finance renewable energy, improving building energy efficiency, as well as a more sustainable transport system. The additional $2bn will be used to create a more secure infrastructure in preparation for climate related weather.