Global Center on Adaptation’s Post

Despite contributing much less than 1% of greenhouse gas emissions, Small Island Developing States are highly vulnerable to the impacts of #climatechange. These states need urgent access to financial support and capacity-building to adapt to #climate change. GCA's 2024 State and Trends in Adaptation Report will provide an overview of climate risks, adaptation action, and financing needs and gaps in Small Island Developing States. Find out more: https://lnkd.in/eFPtdwkw

Despite contributing much less than 1% of greenhouse gas emissions, Small Island Developing States are highly vulnerable to the impacts of #climatechange. These states need urgent access to financial support and capacity-building to adapt to #climate change. GCA's 2024 State and Trends in Adaptation Report will provide an overview of climate risks, adaptation action, and financing needs and gaps in Small Island Developing States. Find out more: https://lnkd.in/eFPtdwkw

Despite contributing much less than 1% of greenhouse gas emissions, Small Island Developing States are highly vulnerable to the impacts of #climatechange. These states need urgent access to financial support and capacity-building to adapt to #climate change. GCA's 2024 State and Trends in Adaptation Report will provide an overview of climate risks, adaptation action, and financing needs and gaps in Small Island Developing States. Find out more: https://lnkd.in/eFPtdwkw

Despite contributing much less than 1% of greenhouse gas emissions, Small Island Developing States are highly vulnerable to the impacts of #climatechange. These states need urgent access to financial support and capacity-building to adapt to #climate change. GCA's 2024 State and Trends in Adaptation Report will provide an overview of climate risks, adaptation action, and financing needs and gaps in Small Island Developing States. Find out more: https://lnkd.in/eFPtdwkw

Key messages to the Private Sector players: - Private capital is increasingly becoming a source of climate finance, but more needs to be done. - Policymakers can develop climate-oriented financial systems through the adoption of sustainability disclosure standards to reduce transaction costs and compliance risks for investors - The public sector can strengthen the climate investment environment by liberalizing markets, reducing entry barriers, and overcoming market rigidities such as long-term power purchase agreements. *Go to Chapter 4 if you are coming from the private sector & investment organizations. Martin Davis Priya Gopalan Naritalia Panjaitan Matthew Hensley Nadav Lehavy Fitrian Ardiansyah Cipto Handoyo Pande Putu Yuniarti (Yuni) Dharma Djojonegoro Firman Dharmawan Teuku Rengga Felamona Joel Shen Sean Oh Yoosuf Moiz WeiChee Liew Seena Dabral Amelia Seah (佘俐玲) Charlie Knaggs Connor Clark Lindh Pranav Sethaputra #climatechange #developmentfinance #asiapacific

It is imperative for governments to take urgent action to reduce greenhouse gas emissions and implement robust adaptation strategies. Public sentiment strongly supports this, with 91% of people in the region viewing climate change as a serious issue. The ADB report offers valuable insights and policy recommendations for governments to mitigate these impacts and finance necessary. #ClimateAction #SustainableDevelopment #ADB

New ADB research finds the impacts of climate change could drastically reduce gross domestic product in the region under a high greenhouse gas emissions scenario. Here’s how governments can respond to these threats and reduce the chance of future damage: https://ow.ly/Bich50TW3u6

🏛️ ADB’s Asia-Pacific Climate Report 2024 🏛️ The Asian Development Bank’s latest report projects a challenging future: Asia-Pacific could face a 17% reduction in GDP by 2070 under the worst-case climate scenario. For Central Asia, the projected GDP drop is 4% - a seemingly smaller figure but one that belies the growing severity of climate impacts, which are already affecting the region and intensifying each year. ⚡ Energy Sector’s Role in Climate Impact With a heavy reliance on fossil fuels, the energy sector is the region's largest polluter, responsible for a massive 77.6% of emissions. In Central Asia, countries such as Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbaijan, and Turkmenistan further underscore this dependency, with energy subsidies making up 15% to 27% of GDP. This ongoing support for fossil fuels not only strains public budgets but also obstructs the shift to cleaner energy sources. 🌏 What Can Be Done? The report calls for urgent action: we need to accelerate the transition to renewable energy, invest in climate mitigation projects, phase out fossil fuel subsidies, attract private sector investments in sustainable initiatives, and implement carbon taxes or markets. These findings remind us of the importance of collective action to build a resilient, low-carbon future for Asia-Pacific. 📑 Read the full report: https://lnkd.in/e8Ne3bck, https://lnkd.in/etYrsNXP #ClimateAction #SustainableDevelopment #ESG #ADB #EnergyTransition #GreenFinance #CentralAsia #ClimateResilience

This Asia-Pacific Climate Report 2024 by the Asian Development Bank (ADB) underscores the issue on significant funding gap that many countries in the APAC region face in implementing effective climate projects. This shortfall in financial resources is one of the main barriers to necessary adaptation and mitigation efforts. Without adequate investment, these countries risk severe economic consequences, with potential GDP reductions of up to 17% by 2070. There is a stark disparity in climate financing within the region. Wealthier nations and those with more developed financial markets can attract private climate capital more easily, while developing countries struggle due to weaker financial infrastructures and higher perceived risks. This disparity leaves poorer nations more vulnerable to the adverse effects of climate change. To bridge this funding gap, policymakers must create environments conducive to private investment in climate projects and not solely rely on foreign aid. This includes implementing robust regulatory frameworks, offering incentives for green investments, and enhancing transparency in climate-related financial disclosures, among other measures. Climate change is a “now” problem, and governments, as well as various stakeholders, must act with urgency.

This research from the Asian Development Bank highlights the critical importance of supporting transition in the Asia and Pacific to shift to more viable climate pathways and ensure gross domestic product in Asia and Pacific is not eroded. As countries face ever more pressing fiscal challenges, the need to protect fiscal space and to respond effectively to climate challenges remains ever more critical. Here’s how governments can respond to these threats and reduce the chance of future damage: https://ow.ly/Bich50TW3u6