The Asian Development Bank (ADB) announced the launch of an initiative to address the adversities of climate change in the Hindu Kush Himalayan region, a vital source of water for billions of lives. According to ADB, the Hindu Kush Himalayan region (ranging from Afghanistan to Myanmar) can lose up to 75 per cent of the glaciers by the end of the century, causing frequent hazards, day zeros, loss of biodiversity and climatic catastrophe.
This can occur if the global temperature rise by 3 degree Celsius. The worst-affected regions from this would be Nepal and Bhutan, where multi-hazard threats, including landslides, earthquakes, and floods would become a regular occurrence. The initiative will help these nations with technical assistance to enhance the government’s capacity for risk assessment with priority river basins, early warning systems, and risk management strategies for future infrastructure development.
According to the ADB, the Hindu Kush Himalayan region is the source of 10 major rivers, sustaining the livelihoods of 240 million mountain-dwellers and 1.6 billion people downstream.
The President of ADB, Masatsugu Asakawa said, “The roof of the world is melting. The Hindu Kush Himalayas region is critical to the well-being and economic security of more than a billion people across our region. This initiative will help equip Bhutan and Nepal with essential information and enable them to invest in effective climate adaptation–which is now critical to managing climate risk.”
As per the data of ADB, economic losses in the region from disaster totalled $45 billion from 1985 to 2014, more than any other mountainous region in the world. ADB’s assistance aims to facilitate understanding of risks, enabling decision-making on disaster risk reduction, adaptation measures, and risk transfer solutions, including insurance.
As Asia and the Pacific’s climate bank, ADB has committed to providing USD 100 billion in climate financing from 2019 to 2030, with USD 34 billion earmarked for adaptation. In 2022 alone, ADB allocated USD 7.1 billion for climate finance, demonstrating its commitment to sustainable development and poverty eradication in the region.
(With inputs from ANI)