Climate Change to Cost East Asia 5.3% of GDP, ADB Study Says

Climate change will lead to more flooding and drought in East Asia and could chop 5.3 percent off annual gross domestic product by the year 2100 if measures aren’t adopted to tackle it, according to the Asian Development Bank.

Rising temperatures in China, Japan, Mongolia and South Korea will spur more flooding and tropical storms in coastal areas and make northern agricultural regions more prone to drought, the ADB said today in its “Economics of Climate Change in East Asia” report.