ADB's 45th Annual Meeting will examine the tough balancing act facing Asia & the Pacific: how to promote economic growth without sacrificing the environment.
The Global Challenge
- To prevent catastrophic climate change and not exceed a temperature increase of 2 degrees Centigrade, global greenhouse gas emissions must peak by 2020.
- Scientists warn that the world is heading towards a much higher emission level that will warm the planet by well over 2 degrees.
- Developed countries collectively need to cut their emissions drastically; developing countries need to decouple continued economic growth from the generation of high levels of greenhouse gases.
- Even with aggressive efforts to reduce emissions today, adaptation measures are needed to cope with the adverse consequences of climate change that has been locked in by past emissions.
Tackling the Causes of Climate Change: Asia is Key
- Developing Asia is now responsible for 35% of worldwide energy-related carbon dioxide emissions, compared to 17% in 1990.
- The People's Republic of China is the largest source, accounting for about 70% of the region's emissions. Its per capita emission, however, is only about 50% of the developed world's average.
- Vehicle ownership is doubling every 5 years in many Asian countries, with growth in urban areas even more rapid, often doubling every 2 to 3 years.
- Without greater use of renewable energy and improved energy efficiency, developing Asia's share in global energy-related emissions could reach about 45% by 2030.
- Around 17% of total annual global emissions come from forest and land use change, with about one-third from Asia and the Pacific.
Impacts of Climate Change: The region is highly vulnerable
- Seven out of the 10 nations at greatest risk to climate change and natural disasters globally are in Asia and the Pacific, and 3 of these are small Pacific island states. (Source: UNU-EHS)
- 20 million Bangladeshis would be displaced by a 1 meter rise in sea level by 2050.
- More than 60% of the region's population works in agriculture, fisheries, and forestry, which are the sectors most at-risk to climate change.
- Decrease in fresh water availability could affect more than 1 billion by 2050.
- Climate change will cut agricultural crop yields and hike food prices - every 10% rise pushes a further 64 million Asians into poverty.
Massive investments are required
- Several tens of billions of dollars will be needed annually to help developing countries transition to low-carbon and climate-resilient economies, with $40 billion annually for adaptation in Asia and the Pacific alone.
- The People's Republic of China leads the world in renewable energy investment, accounting for half of all global output of solar modules and wind turbines.
- ADB is helping the region meet financing needs. For example, ADB has invested about $7 billion in clean energy-related projects since 2008, with $2.1 billion in 2011 alone.
