Economics of Climate Change in the Pacific

Abstract

The Pacific region - a diverse array of 7,500 islands of varying topographies, cultures, and economies - is particularly vulnerable to the impacts of climate change, with significant economic costs. This study provides fine-scale climate-economic information that is critical for making development and adaptation planning decisions in Asian Development Bank's (ADB) Pacific developing member countries (DMCs). Economic assessment associated with climate information helps identify priority sectors, estimate funding needs, and prepare for economy-wide climate change impacts. Projections of total economic damage to the Pacific due to climate change are provided in various scenarios. Current and future plans for economic advancement must factor in climate change and its potential consequences. Local climate-economic information is essential for effective planning at all levels, ranging from public infrastructure investment to household and community adaptation programs. This flyer gives an overview of the findings of a study evaluating the economics of climate change for developing member countries in the Pacific. It 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.