The race to net zero: accelerating climate action in Asia and the Pacific

The theme study sets out the transformations that are needed for Asia and the Pacific to transition to a net-zero carbon future in support of sustainable development. It provides an outline of the regional context of climate change and identifies policies and actions that could be taken in various sectors of the economy to support the global climate agenda, while also making broad economic, social and environmental gains. To close the emissions gap in key sectors, efforts must be made to transition away from fossil fuels to renewable sources of energy. Low-carbon mobility and logistical solutions are crucial for accelerating innovation, developing technologies and tapping into greener fuels. The move towards low-carbon transport options requires an integrated approach to land use and urban planning, as Asia and Pacific is rapidly motorizing. Furthermore, Governments need to boost their climate-smart trade and investment sectors so that they can decarbonize industries that are currently notable for exporting carbon-intensive goods. Trade and investment should be utilized as force multipliers to combat climate change but are still missing from the existing regional climate landscape. The theme study also contains information on climate-related financing needs in the region and addresses data gaps for better monitoring. Given the carbon neutrality commitments from the majority of Asia-Pacific countries, the report recommends strengthening regional policy dialogue and technical cooperation on low carbon, climate-resilient transition.