11 November 2016: The UN Economic and Social Commission for Asia and the Pacific (ESCAP) issued a working paper on the economics of climate change in the region. It identifies key priority areas for the Asia-Pacific, along with economic policies and instruments that can be used to achieve them, to further implementation of the Paris Agreement.

The report, titled ‘The Economics of Climate Change in the Asia-Pacific Region,’ estimates that, without climate-driven development, climate change could force over 100 million people into extreme poverty by 2030, because many countries in the region are geographically vulnerable and highly exposed to the damaging effects of climate change. The paper recommends the following actions to address climate change in Asia-Pacific: ensure effective adaptation to climate change and strengthening resilience; phase out fossil fuel subsidies and move to a low-carbon economy; encourage the adoption of renewable energy (RE) and energy efficiency (EE) measures; implement strong and predictable carbon pricing; and scale-up climate finance for low-carbon, climate-resilient development.

According to the report, regional cooperation is a key tool to link global, national and sub-national climate actions. As a regional development platform, ESCAP serves as the main economic and social development center for the UN in the Asia-Pacific region. Its mandate is to foster cooperation between its 53 members and 9 associate members.

The working paper was launched in Marrakech, Morocco, during the 22nd session of the Conference of the Parties to the UNFCCC (COP 22). [Publication: The Economics of Climate Change in the Asia-Pacific Region] [Publication Landing Page] [ESCAP Press Release] [Decision 1/CP.21 Adopting Paris Agreement]