UN-ESCAP report

• The report ‘The Race to Net Zero: Accelerating Climate Action in Asia and the Pacific’ was recently released by UNESCAP.
• According to the report, most countries in the Asia-Pacific region are “insufficiently prepared” to face extreme weather events and natural disasters.

Major findings

• The Asia-Pacific region has experienced a faster rise in temperatures over the past 60 years than the global average.
• Natural and biological hazards in the Asia-Pacific region have contributed an estimated annual economic loss of $780 billion.
• 85% of Asia and the Pacific’s primary energy supply comes from fossil fuels, while 60% of the region’s energy-related CO2 emissions come from

Recommendations

• Control emissions in 3 key sectors- energy, transport, and international trade and investment.
• Building low-carbon industries
• Financing climate action through coherent policies

About Economic and Social Commission for Asia and the Pacific (ESCAP)

• HQ-Bangkok, Thailand
• It was established as Economic Commission for Asia and the Far East (ECAFE) in 1947 in Shanghai. It changed its name to ESCAP in 1976.
• It supports inclusive, resilient and sustainable development in Asia-Pacific region by generating action-oriented knowledge, and by providing technical assistance and capacity-building services.
• 53 member states including India and 9 associate members.
• One of the five regional commissions of UN.