The Pacific region is particularly vulnerable to the impacts of climate change, which carry the risk of significant economic costs. The Asian Development Bank’s report on the economics of climate change in the Pacific aims to raise the level of understanding of all sectors and stakeholders on possible impacts of climate change, with analyses that lead to regional strategies supported by national programs linked to local policies and activities. It focuses on Fiji, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, and Vanuatu with broader regional results also included.
In the report, projections of total economic damage to the Pacific due to climate change are provided in various scenarios. Economic assessment associated with climate information is undertaken to identify priority sectors, estimate funding needs, and prepare for economy-wide climate change impacts.
In this public seminar, Xianbin Yao, Director General of the Pacific Department of the Asian Development Bank and Cyn-Young Park, Assistant Chief Economist and Director of the Economic Analysis and Operations Support Division in the Economics Research Department of the Asian Development Bank will present the report’s key findings and discuss its implications.