Agriculture and Agribusiness Key Segments Affected Rice, sugarcane, palm oil, corn, pulses, wheat, livestock farming and irrigation services Potential Impact Reduced rainfall, heat stress and water shortages can lower crop yields, delay planting, increase irrigation costs and reduce livestock productivity Most Exposed Areas India, Thailand, Indonesia, the Philippines, Vietnam and Australia Key Risk Factor Dependence on seasonal rainfall, limited irrigation access and crop sensitivity to heat Economic/ Supply Chain Effect Lower agricultural output can increase food prices, reduce farm incomes and disrupt agricultural commodity exports. Food Processing and Beverages Key Segments Affected Rice milling, sugar processing, edible oils, coffee, packaged foods, animal feed and meat processing Potential Impact Lower agricultural output can restrict raw material availability, raise procurement costs and increase production cost volatility. Most Exposed Areas India, Indonesia, Malaysia, Thailand, Vietnam and Australia Key Risk Factor Reliance on weather-sensitive crops, concentrated sourcing regions and limited inventory buffers Economic/ Supply Chain Effect Higher input costs may compress processor margins, raise retail food prices and encourage manufacturers to diversify suppliers. Energy and Power Generation Key Segments Affected Hydropower, thermal power, electricity distribution, renewable energy and industrial power supply Potential Impact Reduced reservoir levels can constrain hydropower generation, while higher temperatures increase electricity demand for cooling and can place additional pressure on power systems. Most Exposed Areas India and hydropower-dependent economies across South and Southeast Asia Key Risk Factor Dependence on reservoir inflows, limited alternative generation capacity and peak-season electricity demand Economic/ Supply Chain Effect Reduced power availability and higher electricity costs can disrupt manufacturing, commercial facilities and other energy-intensive industries. Water Utilities and Irrigation Key Segments Affected Drinking water supply, wastewater treatment, irrigation networks, desalination and industrial water services Potential Impact Prolonged dry conditions can reduce reservoir levels, increase groundwater extraction and raise the cost of securing and distributing water. Most Exposed Areas India, Indonesia, Thailand, the Philippines and water-stressed parts of Australia Key Risk Factor Low storage reserves, inefficient water distribution and competition among agricultural, residential and industrial users Economic/ Supply Chain Effect Water restrictions can limit crop production and industrial output while increasing investment needs for water storage, reuse and supply infrastructure. Forestry and Pulp & Paper Key Segments Affected Timber plantations, pulp production, paper manufacturing, wood processing and forest management Potential Impact Drier vegetation and prolonged heat can increase wildfire risks, damage plantations and interrupt timber harvesting and processing. Most Exposed Areas Indonesia, Malaysia and parts of Australia Key Risk Factor Plantation exposure to drought, flammable vegetation, and limited fire-prevention capacity Economic/ Supply Chain Effect Forest fires and plantation damage can disrupt pulp and paper supplies, increase raw-material costs and affect export commitments. Fisheries and Aquaculture Key Segments Affected Marine fisheries, shrimp farming, fish farming, hatcheries, seafood processing and aquaculture feed Potential Impact Changes in ocean temperatures, marine heatwaves and altered nutrient availability can affect fish distribution, wild catches and farmed aquatic species Most Exposed Areas Indonesia, the Philippines, Thailand, Vietnam and Pacific island economies Key Risk Factor Sensitivity of aquatic species to temperature changes, oxygen availability, and local marine conditions Economic/ Supply Chain Effect Lower catches or aquaculture productivity can reduce seafood-processing volumes, weaken coastal livelihoods and increase seafood prices. Tourism and Hospitality Key Segments Affected Beach tourism, nature-based tourism, island resorts, outdoor recreation, hospitality and aviation-linked travel Potential Impact Extreme heat, water shortages, wildfire smoke and ecosystem degradation can reduce visitor comfort, disrupt outdoor activities and increase operating costs for hotels and resorts. Most Exposed Areas Indonesia, Thailand, Australia, Malaysia and Pacific island destinations Key Risk Factor Dependence on outdoor attractions, reliable water supplies, healthy ecosystems and weather-sensitive travel seasons Economic/ Supply Chain Effect Weather-related disruptions can reduce visitor spending, affect hospitality employment and weaken demand for connected services such as transport, restaurants and tour operators. Transportation and Logistics Key Segments Affected Aviation, inland waterway transport, road freight, port operations, warehousing and supply chain logistics Potential Impact Wildfire smoke can disrupt aviation, while drought-related low water levels can constrain inland water transport and increase freight costs. Extreme heat can also affect road infrastructure and vehicle operating efficiency. Most Exposed Areas Indonesia, Malaysia, Australia, India and parts of mainland Southeast Asia Key Risk Factor Dependence on weather-sensitive transport routes, navigable waterways, and uninterrupted outdoor operations Economic/ Supply Chain Effect Transport delays and higher freight costs can disrupt agricultural exports, manufacturing inputs and the delivery of essential goods. Mining and Metals Key Segments Affected Copper, iron ore, bauxite, gold mining, mineral processing and metal refining Potential Impact Drought and water shortages can constrain mineral extraction, ore processing and dust suppression, while extreme heat can affect worker safety and operational efficiency. The Asian Development Bank identifies lower mining output as a potential economic consequence of a severe El Niño in directly affected economies. Most Exposed Areas Australia, India, Indonesia and Papua New Guinea, depending on local rainfall conditions and water availability Key Risk Factor Dependence on water-intensive processing, remote-site water supplies and outdoor work in high-temperature environments Economic/ Supply Chain Effect Production interruptions can affect metal availability, commodity prices and downstream industries such as construction, electronics and automotive manufacturing. Healthcare and Pharmaceuticals Key Segments Affected Hospitals, emergency care, respiratory treatments, heat-related illness management, pharmaceutical manufacturing, and medical supply distribution Potential Impact Extreme heat can increase heat-related illnesses, while drought and wildfire smoke can worsen health risks in affected communities. Healthcare facilities may also face higher cooling and water requirements during prolonged hot and dry periods. Most Exposed Areas India, Indonesia, the Philippines, Thailand, Australia and other APAC locations experiencing severe heat, drought or wildfire haze Key Risk Factor Limited healthcare capacity during periods of high demand, exposure to extreme heat and dependence, on reliable electricity and water supplies Economic/ Supply Chain Effect High patient demand can strain healthcare resources, raise operating costs and increase requirements for medicines, emergency supplies and temperature-controlled pharmaceutical storage. 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