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Asia-Pacific Climate Digest Issue #16 : Week 1, July 2021
Compiled by : Purnima Joshi
The world and all its regions continue to grapple with meeting climate objectives as it is also established that higher-elevation forests store comparatively more carbon than lowland forests. Southeast Asia is home to roughly half of the world’s tropical mountain forests, which support massive carbon stores and tremendous biodiversity, including a host of species that occur nowhere else on the planet. Amidst these earlier established facts, a new study shockingly reveals that mountain forest loss in Southeast Asia is accelerating at an unprecedented rat, and throughout the region approximately 189,000 square kilometers (73,000 square miles) of highland forest was converted to cropland during the first two decades of this century.
In this week's issue, we have articles on pioneering work and announcement of the first green2green single-risk policy, the prospect of rising sea levels impacing 15million people across 7 Asian cities by 2030, new frontiers in climate risk analysis, the risks of climate change to cotton crops, end more.
Happy Reading!
ENVIRONMENT
Why isn’t water top of the climate agenda?
Eco Business, 30 Jun 2021
In water-stressed Asia, governments and industry are only beginning to prioritise water risks. Non-technological innovations and greater political will are needed, said experts at Singapore International Water Week 2021.
Rising Sea Levels Due to Climate Change Will Impact 15 Million People Across 7 Asian Cities By 2030
GreenQueen,com, 30 Jun 2021
A new report by non-governmental environmental organization Greenpeace East Asia analyzes the estimated economic impact of extreme rising sea levels in seven Asian cities in 2030. These cities are Hong Kong, Bangkok, Tokyo, Jakarta, Seoul, Tapei, and Manila.
Climate Change May Lead to More Landfalling Tropical Cyclones in China
Mirage, 21 Jun 2021
Tropical cyclones (TCs) can bring strong wind, heavy rain, and storm surge. Meteorologists are concerned that the effects of global warming may change how these storms impact humans.
FINANCE
For banks that backed PH coal boom, the path to renewable energy comes with roadblocks
Pcij.org , 29 Jun 2021
Banks in Asia and the Philippines are moving at a snail’s pace in defunding coal. At least 10 Philippine banks gave $841 million in loans and participated in $1.3 billion worth of underwriting activities involving at least five coal companies since the 2015 Paris climate agreement
Asia Pacific:Euler Hermes announces first green2green single risk policy
AsiaInsuranceReview, 30 Jun 2021
Euler Hermes, the world's leading trade credit insurer, and NORD/LB, a state-owned German commercial bank based in Hanover, have announced the closing of Asia Pacific's first Green2Green Single Risk credit insurance policy ...
Australian Emissions Reduction Investors Set Their Eyes On Asia-Pacific Climate Action
Mirage, 24 Jun 2021
Protecting and restoring Asia-Pacific ecosystems such as forests, mangroves and coral reefs will support regional communities while helping to keep global warming below 1.5 degrees – and corporate Australia has the expertise and
appetite to invest.
Japan insurers struggle to pinpoint climate change cost estimates
Channel News Asia, 25 Jun 2021
As the world tries to price the cost of climate change, Japan's second largest non-life insurer MS&AD foresees the potential rise in claim payments in 2050 to be anywhere between 5per cent to 50per cent from current levels.
FOSSIL FUEL
Asia's new coal plant plans jeopardise climate targets, report says
Reuters, 30 Jun 2021
Five Asian countries are responsible for 80% of new coal power plants planned around the world, the Carbon Tracker group said on Wednesday, saying most would prove uneconomical and the new plants would put international climate goals out of reach.
ENVIRONMENT
Why isn’t water top of the climate agenda?
Eco Business, 30 Jun 2021
In water-stressed Asia, governments and industry are only beginning to prioritise water risks. Non-technological innovations and greater political will are needed, said experts at Singapore International Water Week 2021.
Rising Sea Levels Due to Climate Change Will Impact 15 Million People Across 7 Asian Cities By 2030
GreenQueen,com, 30 Jun 2021
A new report by non-governmental environmental organization Greenpeace East Asia analyzes the estimated economic impact of extreme rising sea levels in seven Asian cities in 2030. These cities are Hong Kong, Bangkok, Tokyo, Jakarta, Seoul, Tapei, and Manila.
Climate Change May Lead to More Landfalling Tropical Cyclones in China
Mirage, 21 Jun 2021
Tropical cyclones (TCs) can bring strong wind, heavy rain, and storm surge. Meteorologists are concerned that the effects of global warming may change how these storms impact humans.
BIODIVERSITY
Forest loss in mountains of Southeast Asia accelerates at ‘shocking’ pace
Mongabay.com, 28 Jun 2021
Southeast Asia is home to roughly half of the world’s tropical mountain forests. These highland ecosystems support massive carbon stores and tremendous biodiversity, including a host of species that occur nowhere else on the
planet.
In India, forest rights means forest conservation
Indian Express, 29 Jun 2021
On June 14, Prime Minister Narendra Modi addressed the UN High-Level Dialogue on Desertification, Land Degradation and Drought
ENERGY
Experts Recommend Steps for Integrated Energy Transition in Asia-Pacific
Iisd.org, 28 Jun 2021
The Institute for Global Environmental Strategies (IGES) convened an event on the side of the Ministerial Thematic Forums for the UN High-level Dialogue on Energy.
GOVERNANCE
Climate And Environmental Governance: Yes, we CAN
The Edge Markets, 24 Jun 2021
We cannot deny that we are witnessing unprecedented economic, environmental and social changes on a global scale and at an accelerating pace, which are disrupting our ways of life and how we conduct business.
ASEAN REGION
Southeast Asian nations missing from push to protect 30% of planet
Thomson Reuters Foundation News, 29 Jun 2021
Cambodia is the only Southeast Asian nation to have signed up to the goal so far, although it has been endorsed by countries in other parts of Asia-Pacific
Securing Indonesia’s future by building on its climate response
The Jakarta Post, 26 Jun 2021
Climate change, if not managed, could deliver large social and economic impacts around the world, and in many ways, Asia appears more vulnerable than other regions. And within Asia, Indonesia may face greater potential impacts than many other major Asian nations.
AGRICULTURE
One third of India’s cotton growing regions face severe climate risks by 2040
unitednewsofindia.com, 23 Jun 2021
The first ever global analysis of climate risk to global cotton production reveals that runaway climate change could expose half of all global cotton growing regions to high risks from temperature increases, changes to rainfall patterns and extreme weather events by 2040.
CORPORATE
Asia’s richest man Mukesh Ambani unveils $10bn green energy push
Al Jazeera, 24 Jun 2021
Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750 billion rupees ($10.1 billion) of investment over three years, marking a new pivot for one of the world’s biggest fossil-fuel billionaires.
Kansai Electric shareholders vote down proposal to exit coal
Channel News Asia, 25 Jun 2021
Kansai Electric Power shareholders on Friday rejected a proposal requiring the company to stop using coal and decarbonise its business in a victory for the board over
activist demand for climate action.