Asian Development Bank: 'Net Zero' benefits five times higher than costs

India could face the worst effects of climate change among the Asian economies, but a coordinated approach to net zero could outweigh the cost of mitigation, according to an Asian Development Bank report released on Thursday.

"An efficient transition to achieve the Paris Agreement goals can yield benefits that are as high as five times the costs," said ADB chief economist Albert Park. Park also argued that developing Asia needs to transition to policies like carbon pricing.

Climate change under a high emissions scenario, where temperatures rise to 4 degrees, could impose gross domestic product (GDP) losses of 35% by 2100 for India vis-a-vis 24% for the whole of developing Asia.


Agricultural yields in India could drop by 18% by 2070.

The report stressed on de-carbonisation of power to reduce emissions. It said annual investments of 2.6-2.7% of the GDP were required for transformation of energy sources.