Adaptation cost

To mitigate the effects of climate change warming and help developing Asia adapt to the effects of climate change, ADB recently announced that it would double its annual climate financing to $6 billion by 2020. Needs remain huge, though, with adaptation costs alone estimated at $40 billion per year.

On top of that, natural hazards inflict heavy losses on Asian countries, averaging $63.1 billion each year, according to the OFDA/CRED International Disaster Database. It is therefore no surprise that 44% of our readers see natural hazards as the top climate-induced threat in the region. In the past decade alone, the region has suffered calamities of biblical proportions like Typhoon Haiyan, the strongest typhoon ever to hit land, which killed over 6,000 people in the Philippines in late 2013. The death toll, though, is just the tip of the iceberg of the impact of climate extreme events on developing Asia... —