Southeast Asia needs an effective carbon tax strategy in climate fight - South China Morning Post
Climate change: region must follow Singapore’s example and enact carbon tax strategy | South China Morning Post
Workers move blocks of ice into a storage unit at a market during a heatwave in Bangkok on April 25. Scientists say global warming is exacerbating adverse weather, with many countries experiencing deadly heatwaves and temperatures hitting records across Southeast and South Asia in recent weeks. Photo: AFP
Workers move blocks of ice into a storage unit at a market during a heatwave in Bangkok on April 25. Scientists say global warming is exacerbating adverse weather, with many countries experiencing deadly heatwaves and temperatures hitting records across Southeast and South Asia in recent weeks. Photo: AFP
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Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”