Asia and the Pacific can lead world in green growth
BANGKOK, THAILAND - Asia and the Pacific has the potential to be a
world leader in low carbon growth, but only if it adopts a new
development strategy, according to a joint study released by the Asian
Development Bank (ADB) and UN agencies.
"The global market for green goods and services is vast and growing
and with the right policies and investments, Asia and the Pacific could
lead the world towards a more sustainable future," said ADB's Director
for Environment and Safeguards Nessim Ahmad.The report, Green Growth,
Resources and Resilience Environmental Sustainability in Asia and the
Pacific, was prepared by ADB, the United Nations Economic and Social
Commission for Asia and the Pacific, and the United Nations Environment
Program. It provides timely support to policymakers as they prepare for
the 2012 United Nations Conference on Sustainable Development (Rio +20),
which will be held in Rio de Janeiro in June.Asia and the Pacific has
been the world's largest resource user since the mid 1990s. If current
trends continue, its CO2 emissions are likely to more than triple by
2050, putting an unbearable strain on the earth's ecosystems.
Reversing this trend will require a new development model
characterised by systems innovation, efficient use of resources, and a
greatly reduced reliance on hydrocarbons.
The region is already leading the world in commitments to green
investment, including funding for low carbon power generation and energy
efficiency improvements.
The report notes that about two-thirds of the $8 trillion needed for
infrastructure in the region between now and 2020 will be in the form of
new investment, opening huge opportunities for businesses who can
design, finance, build and manage green buildings, transport systems and
other sustainable infrastructure.
The high upfront costs of providing green goods and services, such as
renewable energy facilities, has hampered development on a large scale,
but the report notes that with the right policies and incentives,
'greening' the economy can be made viable and profitable in the
long-term.
Policymakers need to consider measures such as ecological tax reforms
that penalise polluters while rewarding those who invest in low carbon,
resource-friendly activities. Creative financing arrangements that ease
the initial cost burden and risks for green developers will also help
stimulate investment. |