Climate change is threatening vulnerable communities throughout Asia and the Pacific. To minimize the losses, five key strategies should be pursued.
These charts illustrate how local currency bond markets can be a powerful tool to stabilize currencies and economies during crises such as the pandemic and global shocks.
Kazakhstan's banking sector has seen extensive state support, leading to increased fiscal costs and a growing dependency on public funds, with key performance metrics showing a decline. To address these challenges, rules governing state support to commercial banks need to be clarified and banking regulations tightened.
The silent invasion by invasive alien species, including plants, invertebrates, vertebrates and microorganisms, is jeopardizing biodiversity and economies on a global scale. We need to take urgent, coordinated action.
As global economic corridors gain momentum, a comprehensive approach to trade and transport facilitation is essential to strengthen supply chains for sustainable growth.
Adopting sustainable procurement is a $13 trillion opportunity for Asia and the Pacific to achieve its economic and social goals. This will take leadership from governments and development organizations, including multilateral development banks.
Finance ministries are empowered with functions that allow them to lead a comprehensive, government-wide approach to address climate change.
Technology is crucial to the transition from fossil fuels to renewable energy but it must be accompanied by community-wide behavior changes if it is to be successful, particularly in developing countries.
Developing countries in Asia and the Pacific are among the hardest hit when it comes to climate change and yet many have limited resources to address the issue. Valuing carbon as a commodity and developing the immature carbon market is an important strategy for the region moving forward.