Carbon Neutrality
Delivering Carbon Neutrality for ASEAN Could Unlock Up To US$5.3 Trillion Economic Opportunity
ASEAN has set course for a carbon-neutral future, with ASEAN Economic Ministers endorsing a visionary ASEAN Strategy for Carbon Neutrality on 19 August 2023. The Strategy has been designed to complement the ASEAN Member States' national initiatives in meeting their respective Nationally Determined Contributions under the Paris Agreement.
Being highly exposed to climate change, with five of the world's 20 most at-risk countries located in ASEAN, unchecked climate change could drive down regional GDP by 11% by 2100, and lead to displacement of 87 million people in high-risk flood areas in Indonesia, Malaysia, Myanmar, Thailand and Viet Nam.
According to Boston Consulting Group, driving towards a carbon-neutral future could unleash between US$3.0 and US$5.3 trillion GDP value-add by 2050, attracting a substantial US$3.7 to US$6.7 trillion green investment and unlocking between 49 and 66 million additional jobs for the ASEAN region.
