ADB urges Asia-Pacific countries to cut emissions

The Asian Development Bank has called on nations in the Asia-Pacific region to transition to low carbon energy systems to combat climate change.

The Manila-based multilateral lending institution said the region will account for more than 40 per cent of global greenhouse gas emissions by 2025 if drastic action is not taken to decarbonise.

Carmela Locsin, director general of the ADB’s Sustainable Development and Climate Change department, said:  “With high rates of economic growth, the region must pursue a low carbon development path and make its contribution in cutting greenhouse gas emissions to keep global warming well below 2°C compared to pre-industrial levels.”

The Philippines was among the 195 UN member states that adopted the Paris Agreement on climate action in December with the aim of curbing emissions and preventing dangerous levels of global warming.

Locsin added: “The region, home to 60 per cent of the world population, is especially vulnerable to the effects of climate change. Rising sea levels and extreme weather events of higher frequency and increased intensity pose vital threats to the health and safety of over four billion people in the region and particularly put the poor at risk.”

Locsin said the implementation of policies including emission trading systems (ETS) is essential to support climate action efforts in the region: “Low carbon growth in the region offers opportunities not only for meeting out challenges posed by climate change but also for enhanced economic activities facilitating more efficient industries to compete more successfully on global markets.”

There are currently ten countries operating emissions trading schemes in the Asia Pacific region: Kazakhstan, Korea, New Zealand, China, Japan, India, Indonesia, Thailand, Vietnam and Australia.

The ADB called on ETS areas to link with each other to encourage emissions savings.

Locsin said: “As we look to more concerted and ambitious actions to cut GHG emissions, the linking of ETS will be an important approach, it encourages emissions savings where they are cost effective, and minimizes the impact of carbon costs on competing industries through a common carbon pricing mechanism.”