The Asian Development Bank (ADB) is to carry out a comprehensive study on the economics of climate change in Northeast Asia, Manila-based ADB said in a press release on Monday.

The study’s aim is to help regional and country-level decision makers address the issue of climate change and to develop low- carbon growth strategies in their countries and the region, the ADB said. The study, Economics of Climate Change and Low Carbon Growth Strategies in Northeast Asia, is being financed by a technical assistance grant of $1 million from ADB, and $800,000 of grant from the Government of the Republic of Korea. It will cover four countries — China, Japan, Republic of Korea and Mongolia. “The purpose of this assistance is to raise awareness about the urgency of climate change challenges in the region,” said Tae Yong Jung, study team leader and Senior Climate Change Specialist in ADB’s East Asia Department.

The study will provide the region’s policymakers with the latest information on mitigation and adaptation strategies, and suggest policy responses to cope with and counter future climate change impacts. — Xinhua