ESCAP’s “Race to Net Zero” Report

Sakshi Education

Bangkok-based U.N. Economic and Social Commission for Asia and the Pacific (ESCAP) recently released a report titled “Race to Net Zero”. This report will serve as a guide and information source for the 79th session of ESCAP, which will focus on accelerating climate action for the first time.
According to this report, most countries in the Asia-Pacific region are “insufficiently prepared” to face extreme weather events and natural disasters, which are increasing in intensity and frequency partly due to climate change. It highlights that the region is responsible for over half of the world’s greenhouse gas emissions.
The Asia-Pacific region has experienced a faster rise in temperatures over the past 60 years than the global average. The region suffers the worst consequences of climate change, with six of the top 10 most affected countries located in the Asia-Pacific region.
According to the ESCAP report, natural and biological hazards in the Asia-Pacific region have contributed an estimated annual economic loss of U.S. $780 billion, causing disruption in food systems, damaged economies and undermined societies. The report predicts an increase to $1.1 trillion in a moderate climate change scenario and $1.4 trillion in the worst-case scenario.

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