Asia is lagging on climate change spending, bank study finds

Asian countries’ financing needs to cope with climate change ranging from $102 billion to $431 billion a year—far exceeding the $34 billion committed in 2021-2022.

Countries in Asia will suffer worse damage from the climate crisis than other regions and are falling far behind in spending on improvements to limit the damage and adapt to changing weather patterns and natural disasters, the Asian Development Bank said in a report released Thursday.