A report from the Asian Development Bank finds widening income gaps in the Asia-Pacific leaves the poor more exposed to the risks of climate change. Vinod Thomas, general director of an independent evaluation at the ADB, said wealth gaps in the region have secondary consequences . “Climate change hurts the poor disproportionally,” he said. “Environmental shocks push the poor into direr straits. Hence, responding to climate change helps to reduce inequality.” The bank, in an annual review of the Pacific energy regime , said the region’s heavy reliance on imported fossil fuels leaves it particularly vulnerable to foreign markets. The bank said its regional investments of more than $500 million by next year will support a low-carbon transition. Asian economies, the […]