Climate Change Will Affect Economic Growth in SE Asia

Dec 15, 2015

The losses caused by the effects of climate change in Southeast Asia could reach 11 percent of the regional economy by 2100, said today the Asian Development Bank (ADB).

That estimate exceeds 60 percent the 2009 review, which found out that the Gross Domestic Product of the countries in the area would be shortened by seven percent due to the same problem.

Speaking at the Summit on Climate Change in Paris, the chief economist of the ADB, ShanH Jin Wei, acknowledged that the consequences of failing to cut emissions of greenhouse effect gases may exceed the estimates.

He also insisted on taking measures to reduce the emission of pollutant substances into the atmosphere and improving the energy efficiency 

A new study published by the ADB showed that by maintaining the current energy behavior and not reducing the rate of consumption of oil and coal, the emissions of greenhouse effect gases will be 60 percent higher in 2050 than in 2010.

Such report reiterated that by reducing the release of these substances and stabilize the climate, significant losses will be avoided for Southeast Asia, something that will help address the costs of the actions in a long-term.

The research analyzed the five largest economies in the region: Indonesia, Malaysia, Philippines, Thailand and Vietnam, countries also account for 90 percent of the emission of harmful gases at the regional level.

The study pointed out that the reduction of emissions requires multidimensional measures, and it stressed that it is essential to reduce the rate of deforestation in Southeast Asia.

According to the report, the forestry sector currently accounts for the majority of emissions in Southeast Asia and retrieving it would be the cheapest opportunity to reduce the release of greenhouse effect gases.


Source: Prensa Latina

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