Maldives’ economy hardest hit by climate change: Asian Development Bank
19 Aug 2014, 6:32 PM
Lucy Lovell
Climate change could cause annual economic losses of over 12% of the Maldives’ GDP by the end of this century, says a new Asian Development Bank (ADB) climate and economics report released today (August 19).
“A potential ocean rise of up to 1 meter by 2100 will have devastating consequences for this island archipelago, where the highest natural point is only a little over 2 meters above sea level,” said Bindu Lohani, ADB Vice-President for Knowledge Management and Sustainable Development.
The Maldives is the most at-risk country in South Asia from climate change impacts, said the report titled ‘Assessing the Costs of Climate Change and Adaptation in South Asia’.
Given the uncertainties of climate change, there is a slight possibility that the losses could swell to more than 38%. But if mitigation and adaptation steps are taken, the Maldives will benefit the most in the region, with annual losses limited to around 3.5% of GDP by 2100, the report concluded.
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