Temperatures in the Asia-Pacific region are rising faster than in many other parts of the world, and philanthropy dollars can play a critical role in reducing greenhouse gas emissions and increasing climate resilience, according to the World Economic Forum and philanthropy groups.
Less than 2% of the more than $800 billion in philanthropic giving for 2022 went to preventing climate change, and just a tiny percentage of that reached Asia despite its growing need for climate funding, a report showed. Countries in the Asia-Pacific region are at risk of losing 35% of gross domestic product by 2050 due to climate change and natural hazards, according to the report, released Friday as part of the kickoff for climate conference COP 28.
The world is generally becoming hotter as a result of climate change, but temperatures are rising two times faster in Asia than the global average — leading to droughts, floods, and other climate disasters.
About the author
Stephanie Beasley@Steph_Beasley
Stephanie Beasley is a Senior Reporter at Devex, where she covers global philanthropy with a focus on regulations and policy. She is an alumna of the UC Berkeley Graduate School of Journalism and Oberlin College and has a background in Latin American studies. She previously covered transportation security at POLITICO.
