According to Reuters, citing the ADB report, if the climate crisis continues to accelerate, about 300 million people in the region could be threatened by coastal flooding and trillions of dollars in assets could be lost by 2070.

Current climate policies will cause global temperatures to rise by about 3 degrees Celsius this century, the ADB pointed out, noting that energy is the largest emitting sector in the region.

To mitigate the impacts, countries need to accelerate their transition to net-zero emissions and increase investment in advanced green technology, the report said. ADB President Masatsugu Asakawa called on countries to take urgent and coordinated action to address the impacts of climate change before it is too late.