JAKARTA: Asean economic ministers have endorsed a carbon neutrality strategy aligning with Paris Agreement commitments and could unlock a US$5.3 trill...
JAKARTA:
The strategy, supported by the Australia for Asean Futures Initiative, requires urgency in achieving carbon neutrality for a green transformation, the ministers said in a joint statement following their 55th Asean Economic Ministers’ Meeting in Semarang, Indonesia. “In contrast, pursuing carbon neutrality could yield a GDP value-add of US$3 trillion to US$5.3 trillion by 2050, attract green investments worth US$3.7 trillion to US$6.7 trillion, and generate 49 to 66 million additional jobs, based on analysis by the Boston Consulting Group.Cambodia, Laos, Myanmar, and Vietnam might experience GDP growth of 9% to 12%, while Indonesia, Malaysia, the Philippines and Thailand could see growth of 4% to 7%. Singapore and Brunei could improve by 1% to 2%.
“The region’s diverse economies also offer collaborative prospects for achieving carbon neutrality, with hydropower-rich nations contributing zero-carbon energy, some countries having resources for green-tech nickel batteries, and others excelling in the electric vehicle industries,” they said.
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