Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

ADB - Asian Development Bank : Mongolia Must Spend Up to $560 Million a Year to Climate-proof Infrastructure

10/18/2013 | 04:30am US/Eastern

ULAANBAATAR, MONGOLIA - Mongolia needs to spend up to $560 million per year between 2010 and 2050 to ensure its infrastructure can withstand severe weather conditions, a new report from the Asian Development Bank (ADB) says.

Economics of Climate Change in East Asia projects that severe weather related to climate change will intensify in the region, with once-in-20-years flooding predicted to occur as frequently as every four years by 2050. When combined with rising sea levels, this is expected to cause massive swaths of land to disappear, forcing millions to migrate, and wreaking havoc on infrastructure and agriculture.

Mongolia's agricultural sector, which employs 33% of the total 2.8 million population and accounts for 15% of the economy, is the country's most vulnerable sector.

"If climate change causes more variable weather, the frequency of dzuds (extreme cold and heavy snow) may increase even if the average temperature goes up. Hotter weather and greater seasonal rainfall could exacerbate the degradation of pasture land, hurting farmers across Mongolia," said Jörn Brömmelhörster, Principal Economist in ADB's East Asia Department and one of the main authors of the report.

Droughts, in combination with the dzud, have already led to major losses of livestock. In 2010, almost 30% of the country's livestock died as a consequence of the heavy snows, affecting more than 200,000 households.

In East Asia, Mongolia is the country where the climate change scenarios - and the costs of adapting to it - are the most varied. Under the worst-case scenario, Mongolia would need to spend 8.5% of its 2011-2050 infrastructure investment and maintenance costs to ensure its infrastructure can cope with climate change.

Without mitigation efforts, greenhouse gas emissions are expected to increase dramatically in the region. If no efforts are made to reduce them, emissions in Mongolia are projected to increase by 90% in 2030 compared with 2008. This business-as-usual scenario envisages Mongolia's air temperature to increase 5.2 degrees Celsius by 2090,  the highest in the region.

The report examines how the People's Republic of China, Japan, Republic of Korea, and Mongolia can respond to the challenges of climate change through a combination of adaptation and mitigation. It gathers analysis from experts from 10 leading universities and think tanks in Asia, North America, and Europe, who drew on the best available databanks and climate change models.

distributed by
React to this article
Latest news
Date Title
09:55aDJNewell Rubbermaid Shifts Its Leadership Ranks
09:55aDJCriminal Proceeding Sought Against 1MDB
09:55aDJFed's Lockhart Sees Rate Rise Before End of Year
09:55aDJCanada Adds 12,100 Jobs in September
09:55aDJLogMeIn to Acquire Password-Management Firm LastPass
09:55aDJPentagon Plans New Approach on Syria Rebel Training
09:55aDJEli Lilly to Expand Its NYC Labs at Alexandria Center
09:55a ALTERA : EU to clear unconditionally $16.7 billion Intel, Altera deal - sources
09:55aDJGlobal Stocks Rise on Fed's Cautious Stance
09:53a TOTAL : Australia project delay not damaging: French energy firm Total CEO
Latest news
Hot News 
ADGORITHMS : Annual Earnings To Miss Expectations On Market Disruption
6D GLOBAL TECHNOLOGIES : SIXD Levi & Korsinsky, LLP Announces the Commencement of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of 6D Global Technologies, Inc.
INSPIRED ENERGY : Shortlisted in the Energy Awards 2015
HML : Results of AGM (2)
MEDCOMTECH : Special Notice - Frozen Right Lateral Meniscus
Most Read News
01:39a Amal is a real jewel
12:45a MINISTRY OF FINANCE OF REPUBLIC OF INDONESIA : Government Decreases Oil Fuel, Gas and Electricity Prices through 3rd Economic Policy Package
10/08 DAIRY AUSTRALIA : New RD&E model to drive Victorian dairy farm profitability
12:01a To Defend Payments Businesses, Banks Must Focus on Customer Pain Points
Most recommended articles
09:52aDJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Market Act
09:50a Best week ever for Glencore shares hides investor wariness
09:43aDJU.S. Grains, Soybeans Rise Ahead of USDA Report
09:40a Canada adds jobs, but unemployment rate climbs to 1-1/2 year high