Economic impacts of climate change in Asia-Pacific
Economic impacts of climate change in Asia-Pacific to be highlighted at global UN forum
Marrakech (ESCAP News) – The challenges of
Asia-Pacific’s countries to implement the Paris Agreement,
as well as the economic impact of climate change in the
region, and ways to address it, will be emphasized by the
United Nations Economic and Social Commission for Asia and
the Pacific (ESCAP) at high-level side events held at the
22nd Conference of the Parties to the United Nations
Framework Convention on Climate Change (COP22) in Marrakech
next week.
The Asia-Pacific region is uniquely
positioned in the global climate change effort. The region
contributes over half of the world’s total greenhouse gas
emissions, yet it is also the most vulnerable in the world
to the impact of climate change. The costs of inaction in
the region are estimated to reach as much as 10 per cent of
its GDP by the end of the century.
On Tuesday 15
November, ESCAP will co-organize a roundtable of UN regional
commissions and the United Nations Development Programme
(UNDP) on ‘Building capacity for advancing the 2030
Agenda through climate action and reviewing progress on
achieving the climate related Sustainable Development Goals
(SDGs): integrated solutions for regional implementation’.
The event will explore the common goals between the Paris
Agreement and the 2030 Agenda for Sustainable Development,
as well as integrated solutions and potential synergies for
their implementation at the regional level.
Later in
the day Dr. Shamshad Akhtar, United Nations
Under-Secretary-General and Executive Secretary of ESCAP,
will present at the ‘Economics of climate change: Regional
perspectives’ side-event where she will highlight how the
Asia-Pacific region can harness widely available economic
instruments and policy levers towards developing inclusive
and resilient low carbon economies across the
region.
In addition, ESCAP will take part in several
high-level side events on green growth certification and the
challenges and opportunities for low carbon development in
China, the Russian Federation and South Asia.
During
COP22, ESCAP will also present a new working paper entitled
The Economics of Climate Change in the Asia-Pacific Region.
The paper recommends five key actions to address climate
change in the Asia-Pacific region: 1) ensure adaptation to
climate change and improve resilience; 2) phase out fossil
fuel subsidies; 3) encourage renewable energy and energy
efficiency; 4) implement carbon pricing; and 5) scale-up
climate finance.
A copy of the paper can be accessed
online at: http://www.unescap.org/resources/economics-climate-change-asia-pacific-region