Rescuers help people in Manila, Philippines evacuate due to Storm Vamco (File photo: Xinhua/VNA) Inits report “Southeast Asia’s turning point: How climate action can drive oureconomic future, the institute also reveals how the region could instead gain12.5 trillion USD in economic value over the same period by limiting risingglobal temperatures and realizing its potential to export decarbonisation tothe world.
Philip Yuen, CEO Deloitte Southeast Asia stressed that Southeast Asiancountries must act quickly – within the next 10 years – to circumventirreversible damage from climate change.
He said Southeast Asia’s economies have made strong commitments in this regard,but each country is at a different stage on the sustainability journey, owingto their unique geographic and economic circumstances.
Inorder to alter the trajectory, Southeast Asia must seize the opportunity tolead the charge and take climate action, Yuen said.
Withno action taken on climate change, average global temperatures could rise by3 degrees C or more by the end of this century. This will make it harder for people tolive and work as sea levels rise, crop yields fall, infrastructure is damaged,and other challenges emerge.
Deloitte’s research also shows that if governments, businesses, and communitiesact boldly and rapidly in the next decade to address climate change, averageglobal temperature rises can be limited to around 1.5 degrees C by 2050—a scenario thatwould minimize the impact of climate change for Southeast Asia and the rest ofthe world. At the same time, Southeast Asia can achieve significanteconomic growth by supplying the products and services, and by providingfinancing solutions to a world that will need to limit temperature increases./.
VNA
