(CNN) At least a third of the ice in the Hindu Kush Himalaya region, an area that includes the world's highest peaks Mount Everest and K2, could melt by the end of this century according to an assessment released Monday -- even if there is aggressive action to curb greenhouse gases and meet the goals of the Paris climate agreement.

The report highlights previous studies that predicted glacier volumes in this region could decline between 45% and 90% through the 21st century.

Rising temperatures are a serious threat to the eight countries including China, India, Pakistan and Afghanistan in the Hindu Kush Himalayan region. Fresh water from the region's glaciers flows into 10 major river basins, contributing to the drinking water, irrigation and energy needs of approximately 1.9 billion people, or about a quarter of the world's population.

Glaciers have been retreating and thinning in the area since the 1970s, the report says, but there's been an accelerating rate of retreat since then. This loss has caused severe economic damage and floods, landslides and deadly epidemics. Global warming has also reduced snow cover and degraded permafrost.

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