MANILA, PHILIPPINES - The Asian Development Bank (ADB) and Government of United Kingdom are financing a study to help South Asia analyze the costs and benefits of climate change adaptation actions.
ADB is providing a $500,000 technical assistance grant from its concessional funds, and the United Kingdom's Department for International Development will provide a $700,000 grant to lay the groundwork for the study, Regional Economics of Climate Change in South Asia Part II: Adaptation and Impact Assessment. The study follows an earlier assessment of the potentials and costs of adopting cleaner fuel technologies to support low-carbon growth in the region funded by the Australia-ADB South Asia Development partnership Facility.
South Asia is vulnerable to climate change. The impact of climate change can already be seen in the greater variability of the monsoon, increased frequency of tropical cyclones, and faster melting of the Himalayan glaciers.
"The technical assistance will help improve understanding of the regional economics of climate change to enable policy makers in the region to adopt necessary actions for climate change adaptation," said Newin Sinsiri, Senior Economist (Regional Cooperation) in ADB's South Asia Department.
Among the planned activities are the reviews of existing climate policies, identification of policy gaps and constraints in implementing adaptation measures, assessment of the costs of adaptation, and suggested adaptation measures which support low-carbon growth. A climate policy simulation tool will be developed for policy makers in these countries to show the economic consequences of different climate policy measures.
The study will be done in coordination with other ongoing or planned climate change initiatives and will build on previous climate change works at the country and regional levels and within ADB.
ADB will carry out the project over 24 months, ending in December 2011.