The Economics of Climate Change

The Asia and Pacific region has the most dynamic and fastest-growing economies in the world. If it continues to grow on its recent trajectory, the region will account for more than half of global gross domestic product (GDP), trade, and investment by 2050. However, rising disparities within and across countries and subregions can undermine social cohesion and stability, and hinder this growth momentum. Climate change is also likely to exacerbate the existing challenges to sustaining growth and poverty reduction, especially in the developing and least-developed countries of the region.