More frequent natural disasters such as floods, storms, and heat waves are linked to greater extremes in temperatures and rainfall, according to a study by the Asian Development Bank.
“Climate hazards are becoming more menacing, which presents the most tangible reason to confront climate change as part of a development strategy,” the authors said in the study.
Should carbon dioxide concentrations continue to rise by the current annual rate of 0.5 percent, the frequency of floods and storms would double in 17 years, according to a statement by the ADB.
Indonesia, the Philippines and Thailand would be hit hard by any further increases in CO2, according to the statement.
“Policy makers and economic advisers have long held the view that climate action is a drain on economic growth”, Vinod Thomas, one of the authors, said in the statement. “But the reality is the opposite: the vast damage from climate-related disasters is an increasing obstacle to economic growth and well-being”.