Climate-smart trade and investment in Asia and the Pacific: towards a triple-win outcome
Managing climate change caused by greenhouse gas (GHG) emissions has been recognized as one of the world's greatest challenges in current times, in particular in Asia and the Pacific which accounts for most of the world's GHG emissions. Without urgent action to curb such emissions, climate change will be more severe resulting in larger global temperature rises. Such temperature rises in turn are expected to result in extreme weather fluctuations and associated droughts and floods, melting of glaciers and rising sea levels affecting many countries, in particular coastal communities and rural areas. Trade and investment indirectly contribute to GHG emissions through the energy used in associated production and transportation processes to the extent that energy is generated on the basis of fossil fuels. However, if technologies can be developed and distributed which are clean and contribute to energy efficiency and conservation or use renewable energy, then trade and investment will be part of the solution rather than the problem. The publication therefore makes a strong case for trade and investment in climate-smart goods and services, in particular climate-smart technologies. This would result in a triple win for economic growth, trade and environment. The publication therefore discusses a holistic policy approach to promote trade and investment in climate-smart goods and services, including regional cooperation.