MANILA, Nov. 26 (UPI) — The Pacific region could experience economic losses of as much as 12.7 percent of annual gross domestic product by 2100 as a result of climate change, an Asian Development Bank report warns. The ADB report — “Economics of Climate Change in the Pacific” — focuses on 14 developing Pacific nations: the Cook Islands, Fiji, Kiribati, Republic of the Marshall Islands, the Federated States of Micronesia, Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu and Vanuatu. The bank says most of the countries will see average annual temperatures rise by 3.24 degrees Fahrenheit by 2050. “If the world were to stay on the current fossil-fuel intensive growth model — the business-as-usual scenario — total climate change cost in the Pacific is estimated to reach 12.7 percent of annual gross domestic product equivalent by 2100,” the ADB report, released Tuesday, states. Of the […]