The roof of the world is melting: ADB launches initiative to safeguard Hindu Kush Himalayas from climate risks
New Delhi – The Asian Development Bank (ADB) has launched an initiative to protect the Hindu Kush Himalayas region from climate and disaster risks. This vital water source supports over a billion people across Asia and is facing accelerated warming, with projections indicating that 75% of glaciers in Bhutan and Nepal could melt by the end of the century if global temperatures rise by 3°C. The initiative will involve in-depth risk analysis of multi-hazard threats and focus on Bhutan and Nepal, including landslides, earthquakes, and floods. It aims to enhance the government’s capacity for risk assessments, establish early warning systems, and implement risk management strategies for future infrastructure development. The Hindu Kush Himalayas feed 10 major rivers, sustaining the livelihoods of 240 million mountain-dwellers and over 1.6 billion people downstream.
ADB President Masatsugu Asakawa highlighted the urgency of equipping Bhutan and Nepal with critical information for effective climate adaptation. Asakawa stated, 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.
The Hindu Kush Himalayas region has experienced economic losses totaling USD 45 billion from 1985 to 2014, surpassing other mountain regions. The increasing frequency and intensity of disasters have further intensified economic losses and the toll on human lives. ADB’s assistance aims to enhance understanding of risks and facilitate decision-making on disaster risk reduction, adaptation measures, and risk transfer solutions, including insurance.
Declan Magee, ADB Principal Economist, emphasized the need for finance to flow into climate adaptation projects, stressing the importance of high-quality assessments that consider multiple hazards. The technical assistance provided by ADB seeks to enhance knowledge in the Hindu Kush Himalaya region on climate-resilient investment planning, development, and risk management.
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 specifically designated for adaptation. In 2022 alone, ADB has allocated USD 7.1 billion for climate finance, demonstrating its dedication to sustainable development and poverty eradication in the region.
The initiative launched by ADB comes at a crucial juncture, as the Hindu Kush Himalayas face the threat of melting glaciers and escalating climate risks. By focusing on risk analysis, early warning systems, and enhanced risk management strategies, ADB aims to safeguard the region and enable Bhutan and Nepal to effectively adapt to the changing climate. The welfare and economic security of over a billion people depend on the conservation and sustainable management of the Hindu Kush Himalayas, making this initiative a crucial step in addressing the challenges posed by climate change in the region.
