Report: Tapping lakes, rivers can help region avoid 25% GDP loss from climate change

The impacts of climate change are expected to claim up to 25 per cent of South-east Asia's gross domestic product by 2050, but such losses can be avoided if countries turn to their snaking rivers and majestic lakes for solutions, says a report.

- Shabana Begum

It is high time to ramp up measures to shield against powerful typhoons, rising seas and heatwaves, and water is well suited to be the starting point for adaptation efforts, said the report produced by the World Economic Forum and Singapore International Foundation.

About 90 per cent of all extreme weather events are related to water, which also exacerbates other climate hazards. Larger amounts of water vapour in the atmosphere act as fuel for severe storms, while heatwaves and wildfires are related to drought.

South-east Asia needs to prepare quickly for the impacts of climate change, yet these adaptation efforts remain under-prioritised and under-supported, said the report, which was released on June 23.

A major hurdle is the difficulty in grasping adaptation, as it is often perceived as broad and all-encompassing, noted the paper.

Climate adaptation involves protecting people from the impacts of climate change, such as building sea walls to guard against rising sea levels, and cooling centres during heatwaves.

"Because it is difficult to measure, the returns on investment in climate adaptation are challenging to define," said the report.

It aims to shift the perception of adaptation by highlighting the importance of the move and quantifying the investment needed.