Paris climate targets to cost Asia $300 billion a year

• Eastern Eye Staff
• 27 September, 2016

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By: Eastern Eye Staff

DEVELOPING economies in Asia will have to spend $300 billion a year until 2050 to meet targets set by the Paris climate deal, but can expect to save thousands of lives and avoid worsening poverty if they shift to low-carbon growth, new research showed on September 27. As part of the landmark accord reached in December, nearly 200 nations agreed to keep global temperature increases to “well below” 2 degrees Celsius to curb global warming. The Asian Development Bank (ADB) said the economic returns of spending on the Paris climate targets far outweighed the costs in the developing region –…

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