Climate change fight could be a boon for Southeast Asia – with the right support - South China Morning Post
Climate change fight could be a boon for Southeast Asia if it gets the right support | South China Morning Post
Farmers harvest Arabica coffee cherries at a plantation in Temanggung regency, Central Java, Indonesia, on May 25. Agriculture is an important part of the economy in many parts of Southeast Asia, but ensuring the sector remains viable means farmers need access to consistent financing and other tools. Photo: Bloomberg
Farmers harvest Arabica coffee cherries at a plantation in Temanggung regency, Central Java, Indonesia, on May 25. Agriculture is an important part of the economy in many parts of Southeast Asia, but ensuring the sector remains viable means farmers need access to consistent financing and other tools. Photo: Bloomberg
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”