Dhaka:Annual coastal flood damage in Asia and the Pacific may escalate to $739 billion by the year 2100 from the current $27 billion if countries fail to invest in adaptation measures, as per a new report by the Asian Development Bank (ADB).
According to United News of Bangladesh, the report titled "Asia-Pacific Climate Report 2026 Coastal Risks on the Rise-Actions for a Resilient Future" projects that without adequate adaptation, annual flood damage across 30 coastal economies could increase to between $172 billion and $199 billion by 2050, and further to between $520 billion and $739 billion by 2100.
The report suggests that investing $9 billion to $19 billion annually in coastal protection could maintain flood damage near present levels, potentially averting $178 billion to $360 billion in losses each year. Released on Wednesday, the ADB report emphasizes the growing threats to the region's coastlines, which are crucial to generating around $7 trillion in annual economic output, due to rising sea levels and intensifying climate-related hazards.
Yevgeniy Zhukov, director general of ADB's Climate Change and Sustainable Development Department, highlighted the urgency of the situation, stating that coastal regions must be fortified through long-term, adaptive, and risk-informed solutions to safeguard populations and economies. The report notes that over 400 million people, or more than one in ten in ADB's developing member economies, reside within 10 kilometers of the sea.
The document warns that large economies could suffer significant absolute losses, while smaller atoll nations might experience more severe relative impacts under a high-emissions scenario, where annual flood damage could reach 30% to 60% of GDP by 2100. Major cities like Bangkok, Jakarta, Kolkata, and Mumbai might experience floods annually, a stark increase from the current once-in-a-century events.
Economic vulnerabilities include disruptions to ports, risking $40 billion to $45 billion annually across the region. The ADB urges governments to incorporate adaptive planning into development, enhance governance, mobilize financing, and ensure sustained local ownership of initiatives.
Though international adaptation finance for Asia-Pacific's coastal economies has risen to an average of $11.4 billion annually in 2022 and 2023, a significant financing gap persists. Public finance remains essential for resilience investments, but governments must expand fiscal capacity and secure additional funding to meet long-term needs.
The ADB, established in 1966, supports sustainable growth in Asia and the Pacific and is composed of 69 member countries, with 50 from the region.