Adverse climate change could cost Vietnam, Cambodia, Laos and Thailandat least 16 billion USD per year in damage to natural resource assetsand infrastructure services, a report has revealed.
The reportClimate Change in the Lower Mekong Basin: An Analysis of Economic Valuesat Risk released on February 23 by the US Agency for InternationalDevelopment (USAID) also predicts that an additional 18 billion USD lossstemming from potential infrastructure damage caused by flooding andother extreme weather events.
The amount demonstrates theprofound risk that climate change presents and points to a need foraligning national adaption strategies to reduce risks where possible.
"Ofmost concern are the potentially significant reductions in the yield ofcrops, fish and non-timber forest products critical for livelihoods,damage to infrastructure associated with floods and sea levels rising,and an increase in the incidence and severity of heat-related illnessesfor workers," the report points out. The report draws from a 2013 USAIDanalysis of climate change impact in the Lower Mekong Basin thatforecasts more extreme temperatures, rainfall, weather events and sealevels rising for the region by 2050.
"We hope this work willhelp equip policymakers with the kind of information and analysis thatcan better prioritise investments in climate change adaptation and spurfollow-on valuation studies in the region," said USAID RegionalDevelopment Mission for Asia Director Michael Yates.
The reportfound that the single highest value asset at risk from climate change inthe region is worker productivity: more than 8 billion USD at risk peryear in lost working days due to heat-induced illnesses.
"So muchof the Lower Mekong Basin's economy is based on outdoor labour," saidthe report's author John Talberth, adding that "worker productivityshould be front and centre for any adaptation plans, and (should be)fast-tracked."-VNA
The reportClimate Change in the Lower Mekong Basin: An Analysis of Economic Valuesat Risk released on February 23 by the US Agency for InternationalDevelopment (USAID) also predicts that an additional 18 billion USD lossstemming from potential infrastructure damage caused by flooding andother extreme weather events.
The amount demonstrates theprofound risk that climate change presents and points to a need foraligning national adaption strategies to reduce risks where possible.
"Ofmost concern are the potentially significant reductions in the yield ofcrops, fish and non-timber forest products critical for livelihoods,damage to infrastructure associated with floods and sea levels rising,and an increase in the incidence and severity of heat-related illnessesfor workers," the report points out. The report draws from a 2013 USAIDanalysis of climate change impact in the Lower Mekong Basin thatforecasts more extreme temperatures, rainfall, weather events and sealevels rising for the region by 2050.
"We hope this work willhelp equip policymakers with the kind of information and analysis thatcan better prioritise investments in climate change adaptation and spurfollow-on valuation studies in the region," said USAID RegionalDevelopment Mission for Asia Director Michael Yates.
The reportfound that the single highest value asset at risk from climate change inthe region is worker productivity: more than 8 billion USD at risk peryear in lost working days due to heat-induced illnesses.
"So muchof the Lower Mekong Basin's economy is based on outdoor labour," saidthe report's author John Talberth, adding that "worker productivityshould be front and centre for any adaptation plans, and (should be)fast-tracked."-VNA
