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Countries’ climate plans deliver at most a third of the emissions cuts needed by 2035, and every five years of emissions at current levels raises peak warming by around 0.1°C, the UN Environment Programme’s Emissions Gap Report finds.
As Southeast Asia’s climate risks intensify, The Liveability Challenge is backing ocean-based innovations to help close the region’s funding gap for climate resilience and emissions reduction.
More than half of surveyed companies also plan to tap blended finance as the region confronts an estimated US$400 billion annual investment need to reach net zero and expand solar and wind, which supply just 4 per cent of the region’s electricity, Standard Chartered says.
As the country walks a tightrope between growth and environmental impact, decarbonising its petrochemicals industry is a key challenge.
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