Floods, drought, and extreme weather will result in damages totaling 5.3 percent of East Asia’s GDP annually by 2100 if current trends continue, Bloomberg reports.
The finding comes from a study released Thursday by the Asian Development Bank titled “Economics of Climate Change in East Asia,” which seeks to quantify potential damages brought about by climate change in the region. In 2010, East Asia contributed 30 percent of global carbon emissions. The damages assessed in the report include loss of agricultural revenue and damage to infrastructure.
“East Asia needs to shift toward a model of economic growth focused on low carbon emissions and more efficient use of resources,” the report said. It went on to say that if China takes “measures to reduce emissions of greenhouse gases, [that] should lead to significant improvements in local air quality, thus reducing the damage to the health of urban populations.”