The study provides new estimates of climate-induced sovereign credit downgrades by combining a sovereign climate risk model developed by Klusak et al. (2023) with models of acute climate risk. The authors focus on countries in south-east Asia and calculate the extreme losses from river floods and tropical cyclones under different future warming scenarios and the implications for sovereign credit risk. They also explore different options to adapt to these risks nationally, their associated costs, and model the risk reduction benefits of their implementation