Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/18/2013 | 10:30am CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
09:07p MECHANICS BANK : History Extra - Scranton's Strand Theater opened 100 years ago
09:01p RegEd to Showcase Regulatory Change Management and Market Conduct Exam Management Solutions at AICP Annual Conference 2016
08:58p PROGRESSIVE : Brown Brothers Harriman Co Lowers stake in Progressive Corp (PGR)
08:58p SILVERCREST ASSET MANAGEMENT : buys $106,739,643 stake in BancorpSouth (BXS)
08:58p ECOSOC UNITED NATIONS ECONOMIC AND SOCIAL COUNCI : Taking Note of Gabon Court Ruling on Appeals Lodged against Ballot Results, Secretary-General Welcomes Call by President-Elect for National Dialogue
08:57p DGAP-AFR : STARAMBA SE: Vorabbekanntmachung über die Veröffentlichung von Finanzberichten gemäß § 37v, 37w, 37y WpHG
08:57p ALLSTATE : Short Interest Decreased By 7.76%
08:57p DGAP-AFR : STARAMBA SE: Preliminary announcement of the publication of financial reports according to Articles 37v, 37w, 37y of the WpHG
08:53p TAKORADI : Commitment needed for the constitutional review process - IDEG
08:49p STEELCASE : Federal Contracts Awarded to Companies in Michigan (Sept. 25)
Latest news
Advertisement
Hot News 
21.42%Twitter In Talks with Suitors, Including Salesforce, Google -CNBC's Faber
15.45%Endo International CEO steps down, Campanelli named successor
9.77%SANTANDER CONSUMER : USA to Restate Financial Reports
-5.17%FINISH LINE : Comparable Store Sales Rise
-3.87%NOVAE : UK insurer Novae says finance head to step down
Most Read News
03:01a MICROSOFT : HostForLIFE.eu Launches Moodle 3.1.2 Hosting
09/24 FACEBOOK : apologises for shutting down Palestinian journalists' accounts
09/24 MACY : Washington state mall shooting suspect named as victim's mother speaks
09:15a LINKEDIN OFFICE BY PERKINS + WILL WINS INTERIOR DESIGN OF THE YEAR : Office
12:59pDJSelf-Driving Hype Doesn't Reflect Reality
Most recommended articles
01:42pDJBig Spending on Warplanes Spurs Aerial Arms Race
12:59pDJSelf-Driving Hype Doesn't Reflect Reality
12:03pDJAt Carnival, It's No Time to Jump Ship -- Ahead of the Tape
11:59aDJSAMSUNG ELECTRONICS : Complaints Arise Over Replacement Batteries for Samsung Galaxy Note 7 -- Update
11:24aDJAll the Texas Tea in China Is Less Than It Once Was -- Heard on the Street