(MENAFN- Saudi Press Agency) Manila Safar 25 1437 December 07 2015 SPA -- Economic losses from the impacts of climate change
could slash South-East Asia's growth by up to 11 per cent by 2100
the Asian Development Bank (ADB) said Monday dpa.
The new estimate was up nearly 60 per cent from a 2009 projection
that the region's economic output would be reduced by 7 per cent
annually due to climate change the Manila-based bank said.
"The economic costs of not reining in greenhouse gas emissions are
more serious than we previously estimated" ADB chief economist Shang
Jin Wei said during the COP21 conference in Paris.
"At the same time this new study also shows that reducing emissions
and stabilizing the climate will produce benefits and avoid losses
for South-East Asia which in the long run sharply outweigh the costs
of action" he said.
The study was focused on the region's five largest economies -
Indonesia Malaysia the Philippines Thailand and Vietnam - which
account for 90 per cent of emissions in South-East Asia.
It stressed the need for action to reduce emissions and improve
energy efficiency.
--SPA
12:40 LOCAL TIME 09:40 GMT
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