For Southeast Asia, a Green Transition Is Now an Economic Imperative
The green transition is a major economic opportunity for ASEAN as it could generate up to $1 trillion in annual revenue, create 30 million jobs, and strengthen the region's competitiveness.
ASEAN countries are now advancing toward low-carbon, climate-resilient, and inclusive development to ensure long-term prosperity as rapid economic growth has led to significant environmental challenges.
On 12 March, the Asian Development Bank (ADB) launched a new report on ASEAN’s green transition which identifies gaps and challenges impeding adoption.
During the forum, speakers stressed the need to make the shift to the green economy, noting the transition has become an economic imperative. They cited the report’s findings the green transition is a major economic opportunity for ASEAN as it could generate up to $1 trillion in annual revenue, create 30 million jobs, and strengthen the region's competitiveness in a global economy that is rapidly moving toward sustainability.
The launch was a side event of the ASEAN Economic Ministers Meeting.
Trade and Industry Secretary Cristina Roque of the Philippines opened the event, while ADB Vice-President Scott Morris and Secretary of State Pich Rithi of Cambodia delivered keynotes. ADB Chief Economist Albert Park, ASEAN Deputy Secretary-General Satvinder Singh, and Philippine Environment and Natural Resources Undersecretary Analiza Rebuelta-Teh joined the fireside chat.
Advancing the Green Economy Transition in ASEAN provides the first baseline assessment of the region's green economy and includes baseline measurements, review of policy and regulatory frameworks, identification of opportunities for green jobs and private-sector investments, and actionable recommendations for green economy expansion across the region.
Read the article.
