Some of the biggest nations of East and South-East Asia, including China, could stabilize their greenhouse gas emissions within 15 years at a price of $80 billion a year, the World Bank says. China, Indonesia, Malaysia, Philippines, Thailand and Vietnam could make a concerted switch to renewable energy and greater energy efficiency at modest cost in order to stop carbon emissions growing by 2025, the bank says in a report.
The Philippines for instance, like the other developing countries, is one the most affected countries having suffered extreme weather catastrophes in the world in the past several years. It contributes only 0.3% of all greenhouse gas emissions in the world, but gravely suffers from the 99.7% GHG emitted by other countries.
China is now the world’s biggest emitter and among those developing nations with the fastest growing emissions profiles as they rapidly industrialize, lifting their people out of poverty. Importantly, the World Bank study concludes that the low-carbon effort would not compromise the high rates of growth in the six countries considered. However, the bank also acknowledges that attracting the required $80 billion of investment annually in these countries will be a hard task, if history is anything to go by.
The Philippines for instance, like the other developing countries, is one the most affected countries having suffered extreme weather catastrophes in the world in the past several years. It contributes only 0.3% of all greenhouse gas emissions in the world, but gravely suffers from the 99.7% GHG emitted by other countries.
China is now the world’s biggest emitter and among those developing nations with the fastest growing emissions profiles as they rapidly industrialize, lifting their people out of poverty. Importantly, the World Bank study concludes that the low-carbon effort would not compromise the high rates of growth in the six countries considered. However, the bank also acknowledges that attracting the required $80 billion of investment annually in these countries will be a hard task, if history is anything to go by.
It is indeed high time for Asian countries to unite and concentrate its efforts on reducing its carbon footprint, aside from taking care of its normal economic concerns. Because although these countries contribute much lesser carbon emissions, they suffer as badly as any other country in the world.
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