Accelerating Climate Action in Asia and the Pacific

• 09 May 2023

On May 8, 2023, the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) released a report, titled ‘The Race to Net Zero: Accelerating Climate Action in Asia and the Pacific’.

The report revealed that most countries in the region are ill-prepared to handle the increasing challenges posed by extreme weather events and natural disasters.

The key findings of the report are:

• Asia-Pacific Region and Greenhouse Gas Emissions: Asia-Pacific region accounts for over 50% of global greenhouse gas emissions and has a large population, including vulnerable low-lying cities and small island states.
• Climate Change and Poverty: Climate change is the leading cause of poverty and inequality in the region due to the lack of necessary resources and data to support adaptation and mitigation efforts.
• Annual Average Losses from Natural and Biological Hazards: The annual average losses from natural and biological hazards in the region are around $780 billion and could increase to $1.4 trillion under a worst-case scenario.
• Three Key Sectors for Reducing Emissions: The report identifies three key sectors for reducing emissions, namely energy, transport, and international trade and investment.
• Changes in the Energy Sector: Restructuring national energy systems, investing in renewable energy infrastructure, and increasing the share of renewable energy through cross-border grids are among the suggested changes in the energy sector.
• Low-Carbon Pathway and Climate Considerations: The transport sector should shift to a low-carbon pathway, while climate considerations should be integrated into regional trade agreements.
• Private Sector's Role in Sustainability: The private sector should be encouraged to work towards sustainability and a low-carbon pathway, with sustainability ingrained into business operations.
• Urgent Action Needed to Meet SDG Targets: Urgent action is needed to increase finance and climate action ambition to meet the Sustainable Development Goals (SDG) target year of 2030.
• Climate Change Threatens Development: Climate change and climate-induced disasters are threatening development in the region and exacerbating poverty and societal inequalities.