A recent report released by the Asian Development Bank has highlighted the alarming situation faced by countries in Asia due to the climate crisis. The report emphasizes that Asia will suffer more severe damage from climate change compared to other regions and is lagging far behind in investing in measures to mitigate and adapt to the changing climate patterns and natural disasters.
According to the report, developing Asian countries require annual financing ranging from $102 billion to $431 billion to address climate change impacts. However, the amount committed for these purposes in 2021-2022 was only $34 billion, indicating a significant shortfall in funding.
