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Asia-Pacific Climate Digest Issue # 21 : Week 1, August 2021

Compiled by Purnima Joshi


Even as the deadlines for net-zero approach, and the need for adherence supported with meaningful and implementable action plans continue to be emphasized, the world’s two most populous countries are among dozens that failed to provide an update on their targets. China is the country with the world’s highest emissions, while India is third. The United States, which submitted its new target in April, is the second-biggest global emitter.


Among other reads in this issue we feature the importance of renewable energy as towards recovery of economies after the pandemic; the importance of planning retreats in Asian cities which face the threat of sinking; sustainability being focused upon by businesses in Asia Pacific specially those emphasizing on corporate responsibility at the same time as profitability; and more updates from South-east Asian markets like Cambodia and Vietnam as well as pertaining to the financial sector impacted and taking climate action.


Happy Reading!



INDIA


The devastating cost of India’s push towards a coal-based economic recovery

Caravan, 31 July 2021

“We came to know of it from Google—these days, you can find out everything on Google,” Prabhu Dayal Oraon, a 54-year-old resident of Basiya, a village in Jharkhand’s Latehar district, told me, in February, about the recent coal-block auctions.



China, India miss UN deadline to update emissions targets

Asian Age, 1 August 2021

China and India have missed a U.N. deadline to submit fresh plans for cutting their greenhouse gas emissions in time for the global body to include their pledges in a report for governments at this year’s global climate summit, officials said Saturday.



ENERGY


NITI Aayog: Renewable energy could be a powerful engine for the recovery of India’s economy

CSR Journal, 2 Aug 2021

“Promotion of renewable energy could be a powerful engine for the recovery of the country’s economy after the Coronavirus crisis, creating new and secure jobs”. Renewable energy improves air quality and provides opportunity to invest in health and climate protection,” said Rajnath Ram, Adivisor- Energy, NITI Aayog



ENVIRONMENT


Eurasia Review, 1 August 2021

Even as Asia’s megacities continue to submerge, officials of one small Philippine city are planning a major US$460 million reclamation project that will damage or sink their beautiful seaside city into the dark blue southern sea.



Too hot to work India tackling climate change money mind

Channel News Asia,

On Jul 1 2021, the temperature hit 43.6 degrees Celsius in New Delhi – the hottest July day in 90 years. It is the sort of heat where it is too hot to be outside, let alone work outdoors.




FINANCE


How SDG bonds could accelerate a green recovery

GreenBiz, 28 July 2021

The Asian Development Bank’s recent estimates show an economic contraction across Asia (minus-4.0 percent last year in Southeast Asia), and the United Nations Sustainable Development Goals (SDGs) Report 2020, which estimates around 71 million people were pushed back into extreme poverty, shows the scale of the challenge facing the re-

tracking of the SDGs across the world.



How global investors can leverage India’s ESG promise

Hindu BusinessLine, 2 Aug 2021

Many Indian conglomerates and companies have announced net-zero targets and raising ESG-linked funds







Climate change, contracting balance sheets & continued pandemic uncertainty - time for a next generation insurance solution

Asia Insurance Review, Aug 2021

As corporate budgets and market capacity tighten amidst mounting year-after-year extreme weather losses and continued uncertainty from the on-going COVID-19 crisis, parametric insurance is gaining ground as a preferred alternative to traditional insurance products.



CORPORATE


Circular efforts producing ‘halo effect’ in Asia Pacific travel retail

Trbusiness.com, 27 July 2021

Sustainability continues to be a core consideration for businesses in Asia Pacific and the pacesetters are those that are enhancing corporate responsibility at the same time as profitability.



Mitsubishi joins Aussie carbon market in reforestation effort

Nikkei, 29 July 2021

Japanese trading house Mitsubishi is entering Australia's carbon emissions trading market through a local specialist that helps farmers turn grazing land back into native forests, looking for lessons it can apply in North America.



SOUTH-EAST ASIA


2021 Risk Award recognizes Vietnamese women fighting climate change

Reliefweb, 28 July 2021

A mangrove restoration project in Vietnam which combines building the resilience of a disaster-prone coastal community with risk-themed theatre was announced today as the winner of the 2021 Risk Award.



Enhancing early warning systems in Cambodia for climate change

Khmer Times, 4 Aug 2021

Weather and climate conditions over the Indochina Peninsula, including Cambodia and Lao People’s Democratic Republic (PDR), make it one of the most vulnerable regions on the planet




CHINA


Will China kick its coal habit?

Eco Business, 3 Aug 2021

Whether China can free itself from its decades-old addiction to coal will determine not just its own environmental future, but also – and more crucially – Earth’s prospects in the face of the gathering climate crisis.




REPORT


Net-zero transition blocked by insurance innovation 'barriers'

Asia Insurance Review, Aug 2021

Greater collaboration across the market is required and governments need to accelerate the transition to a net-zero economy through more innovative risk transfer products according to a new report by global insurance industry group

ClimateWise



UPCOMING GLOBAL EVENTS :



ADDITIONAL READS


Climate change threatens food security of 65 nations

Eco-Business, 3 Aug 2021



Read here ...




Earth's 'vital signs' worsening as humanity's impact deepens

NST, 28 July 2021



Read here ...



Blue Economy in the Indo-Pacific: Navigating Between Growth and Conservation


ORFOnline, 28 July 2021


 

CGM's Asia-Pacific Climate Digest is compiled by communications consultant Purnima Joshi.

With over two decades of experience in corporate communications, Purnima combines her skills in creative and communication along with her passion for working for the community.

She has worked on a multitude of projects in waste management, circular economy, building active citizenship in the community, some of which have won awards.

These also include a project on building climate resilience for UNICEF as well as some award-winning projects. She has been associated with several NGOs in an advisory capacity for over 10 years.




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