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BANGKOK, Thailand, Could 09 (IPS) – The newest synthesis report from the Intergovernmental Panel on Local weather Change makes for grim studying: Each fraction of a level of warming comes with escalated threats, from lethal heatwaves to extreme hurricanes and droughts, affecting all economies and communities.
It’s a actuality that the individuals of Asia and the Pacific know solely too effectively. “The worst April heatwaves in Asian historical past” final month was only a style of the worsening local weather impacts we are going to proceed to face within the years to come back.
Our latest report highlights that the ocean degree is creeping up in elements of the area at a barely greater charge than the worldwide imply, leaving low-lying atolls at existential menace. Annual socioeconomic loss as a result of local weather change is mounting and more likely to double within the worst-case local weather state of affairs.
Inequity is yet one more menace as local weather change sweeps throughout the area. Asia and the Pacific already accounts for greater than half of worldwide greenhouse fuel emissions and the share is rising.
However there’s one other image of hope in our area: 39 international locations have dedicated to carbon neutrality and internet zero between 2050 and 2060. The price of renewable power is falling nearly all over the place, with put in capability rising greater than three-fold prior to now decade.
Electrical automobiles are coming into the market en masse as international locations equivalent to China, India, Japan, the Republic of Korea and Thailand have made electrical mobility a precedence.
This momentum must speed up like a bullet prepare. As a result of nothing wanting a breakthrough in hard-to-abate sectors will give us a superb probability of stopping catastrophic international warming.
Accelerating a simply and inclusive power transition
The latest power disaster has kicked renewable power into a brand new part of even sooner development because of its power safety advantages. There may be alternative now to leverage this momentum and switch it right into a revolutionary second.
Cross-border electrical energy grids might be the sport changer. ESCAP has simulated totally different situations for grid connectivity and scaling up renewables. It exhibits {that a} inexperienced energy hall, cross-border energy grid integration using renewables, may help to take away the final hurdles of the transition. We’re working with international locations to chart a path to improved regional energy grid connectivity via cooperation.
Attaining low-carbon mobility and logistics
The distinctive development of electrical automobiles has proved that electrical mobility is a brilliant funding. And it’s one that can assist stave off carbon dioxide emissions from transport, which has stubbornly elevated nearly by 2 per cent yearly the previous twenty years.
By the Regional Cooperation Mechanism on Low Carbon Transport, we’re working with the private and non-private sector to lock within the changeover to low-carbon mobility, clear power applied sciences and logistics.
That is complemented by peer studying and expertise sharing beneath the Asia-Pacific Initiative on Electrical Mobility to speed up the penetration of electrical automobiles and upgrading public transport fleets.
Constructing low-carbon industries via climate-smart commerce and funding
The online zero transition isn’t full with out decarbonizing the commercial sector. The area accounts for almost three quarters of worldwide greenhouse fuel emissions in manufacturing and development.
Binding local weather issues in regional commerce agreements is usually a highly effective instrument. Whereas climate-related provisions have entered regional commerce agreements involving Asian and Pacific economies, they provide few concrete and binding commitments. To unlock additional advantages, they are going to should be broader in scope, deeper in stringency and extra exact in obligations.
As international funding goes inexperienced, it must also go the place it’s wanted essentially the most. It has not been the case for any of the least developed international locations and small island growing States within the area.
Financing the transition
The transition might be solely attainable by investing in low- and zero-emission applied sciences and industries. Present home and worldwide monetary flows fall effectively wanting the wanted quantity.
The issuance of inexperienced, social and sustainability bonds is quickly rising, reaching $210 billion in 2021 however had been dominated by developed and some growing international locations. Each private and non-private monetary establishments should be incentivized to spend money on new inexperienced applied sciences and make the uptake of such applied sciences much less dangerous.
Linking actions and elevating ambitions
The code pink to go inexperienced is ever so clear. Each authorities wants to lift their stake on this disaster. Each enterprise wants to rework. Each particular person must act. A journey to internet zero ought to speed up with a contemporary have a look at our shared goal.
At ESCAP, we’re working to carry collectively the items and construct the lacking hyperlinks on the regional degree to help the net-zero transition work on the nationwide degree. The upcoming Fee session will carry international locations collectively for the primary time in an intergovernmental setting – to determine frequent accelerators for local weather motion and to chart a extra formidable pathway.
That is the beginning of an arduous journey that requires cooperation, understanding and dedication. And I imagine we’ve what it takes to get there collectively.
Armida Salsiah Alisjahbana is Below-Secretary-Basic of the UN and Govt Secretary of the Financial and Social Fee for Asia and the Pacific (ESCAP)
https://www.unescap.org/news/accelerating-climate-action-forefront-upcoming-regional-un-assembly for extra info of the CS79 assembly.
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© Inter Press Service (2023) — All Rights ReservedOriginal source: Inter Press Service
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