Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions

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Table of Contents

• Contents 5
• Tables, Figures, and Boxes 7
• Foreword 10
• Acknowledgments 11
• Definitions 13
• Abbreviations 14
• Highlights 16
• Executive Summary 19
• 1. Addressing the Climate Crisis in Asia and the Pacific 27
• 1.1 The Need for Accelerated Climate Action 28
• 1.2 Opportunities Arising from Low-Carbon Transition 29
• 1.3 Seizing the Moment for Climate Action 31
• 1.4 Challenges for Developing Asia 31
• 1.5 The Need for Adaptation 36
• 1.6 Scope for Higher Ambitions and More Concrete Plans 37
• 1.7 Supporting a Just, Inclusive, and Comprehensive Transition 43
• References 45
• 2. Impacts and Costs of Climate Inaction for Asia and the Pacific 47
• 2.1 A Climate in Crisis 48
• 2.2 Climate Futures for Asia and the Pacific 50
• 2.3 Climate Change Impacts on Vulnerable Sectors and Populations 59
• 2.4 Economic Impacts of Climate Change 68
• Annex: Details of Modeled Losses of Gross Domestic Product Under a High End Emissions Scenario 75
• References 77
• 3. Accelerating Climate Change Adaptation in Asia and the Pacific 81
• 3.1 Framing Adaptation Responses to Climate Change 82
• 3.2 Adaptation Needs and Opportunities 86
• 3.3 Adaptation Policy Responses to Date 101
• 3.4 Policy Recommendations to Enhance Adaptation Outcomes 109
• References 111
• 4. Scaling Up Private Climate Capital for Mitigation and Adaptation 117
• 4.1 Shortfalls in Climate Finance for Asia and the Pacific 118
• 4.2 The Landscape of Private Climate Capital in Asia and the Pacific 118
• 4.3 Drivers of Private Climate Investment 121
• 4.4 Addressing Impediments to Mobilizing Private Climate Capital 135
• 4.5 Global Initiatives and the Role of Multilateral Organizations 149
• References 150
• 5. Carbon Pricing as a Key Policy for Climate Change Mitigation 157
• 5.1 Mounting Evidence in Support of Carbon Pricing 158
• 5.2 Fossil Fuel Subsidies as Negative Carbon Pricing 159
• 5.3 Carbon Taxation as a Core Carbon Pricing Policy 165
• 5.4 Build and Connect Emissions Trading Systems 169
• 5.5 The Role of International Carbon Markets 178
• 5.6 The Effects of Carbon Pricing on Developing Economies 182
• References 188