Bangkok (VNA) - The Asian Development Bank (ADB) has recommended Southeast Asia accelerate decarbonisation of its global value chains (GVCs) as the region could face up to 30% GDP loss annually by 2100 due to climate change.
Speaking at a conference in Bali, Indonesia, ADB deputy director-general Winfried Wicklein said the Association of Southeast Asian nations (ASEAN) is one of the most vulnerable regions to climate change impact.
ADB's report finds that Asia, including ASEAN, emits more greenhouse gas during production than anywhere in the world, while acting as the world's factory. By 2100, the region will feel climate change's collective impact on its agriculture, tourism, energy demand, labour productivity, human health and ecosystems.
ASEAN economies must strengthen their positions in GVCs to bolster long-term competitiveness and resilience against new challenges including climate change through policies that promote decarbonisation, it noted.
The bloc is targeting 23% in renewable primary energy by 2025, from 9.4% in 2014. According to an assessment by the International Energy Agency, carbon capture, utilisation and storage can help slash emissions and fulfill such climate targets./.
Speaking at a conference in Bali, Indonesia, ADB deputy director-general Winfried Wicklein said the Association of Southeast Asian nations (ASEAN) is one of the most vulnerable regions to climate change impact.
ADB's report finds that Asia, including ASEAN, emits more greenhouse gas during production than anywhere in the world, while acting as the world's factory. By 2100, the region will feel climate change's collective impact on its agriculture, tourism, energy demand, labour productivity, human health and ecosystems.
ASEAN economies must strengthen their positions in GVCs to bolster long-term competitiveness and resilience against new challenges including climate change through policies that promote decarbonisation, it noted.
The bloc is targeting 23% in renewable primary energy by 2025, from 9.4% in 2014. According to an assessment by the International Energy Agency, carbon capture, utilisation and storage can help slash emissions and fulfill such climate targets./.
VNA
