Global Net-Zero Transition Benefits Could Be Five Times Higher Than Developing Asia's Costs

Agile Advisors as a Net Zero Consultancy, according to this analysis, the benefits of a smooth transition toward achieving the goals of the Paris Agreement can outweigh the expenses by up to five times. The globe must cooperate to meet our climate goals and guarantee sustainable growth and prosperity that leaves no one behind. Asia and the Pacific region are leading the fight against climate change. Seventy per cent of the world's population lives in the area at risk from increasing sea levels. In addition, it was responsible for almost half of the world's greenhouse gas emissions in 2019. The research states that changing the region's growth patterns is necessary to meet the economic and development goals of Asia and the Pacific without putting the area at risk of catastrophic climate change. This shift calls for the quick substitution of renewable energy sources for coal and other fossil fuels, improvements in energy efficiency, and the preservation of "carbon sinks," like forests.

Global Net-Zero Transition Benefits Could Be Five Times Higher Than Developing Asia's Costs

Agile Advisors as a Net Zero Carbon, achieving net-zero greenhouse gas emissions globally can have significant positive effects on the economy and society. A recent Asian Development Bank (ADB) analysis suggests that these advantages could be five times the mitigation price for emerging Asia. The April release of the Asian Development Outlook Thematic Report: Asia in the Global Transition to Net Zero states that specific policy reforms can achieve advantages, including avoiding economic losses due to climate change and increased health due to cleaner air. Before even considering the advantages to the climate or air quality, the costs to the region would be roughly 1% of GDP yearly in a scenario where everyone works together immediately to reduce warming to far below two °C, per the Paris Agreement. “We need to adopt economically efficient approaches, like carbon pricing, to make climate policy pay off," stated Albert Park, Chief Economist at the ADB.