Finding opportunity in Asia’s net-zero transition
The Asia-Pacific region is witnessing a surge in climate action, with nearly all countries in the region committing to achieving net-zero emissions, albeit with varying timeframes and specifics for implementation.
One of the primary driving forces behind this growing momentum for climate action is the economic benefits it offers. A new report from the High-level Policy Commission on Getting Asia to Net Zero at the Asia Society Policy Institute substantiates this point.
Modelling commissioned for the report finds that reaching net-zero emissions by 2050 could result in a 6.3 per cent increase in the GDP of the Asia-Pacific region above predicted levels. It could also lead to the creation of up to 36.5 million net new jobs by 2032 and generate US$270 billion in savings on energy costs for local households.