This video introduces a new publication presenting five case studies of projects in the People's Republic of China that illustrate how effective solutions to environmental and social problems have been applied in different contexts.

ADB recently launched the Georgia Public–Private Partnership (PPP) Monitor. Helen Steward, Principal Markets Development Advisory Specialist in ADB’s Office of Markets Development and Public–Private Partnerships, explains what the PPP Monitor is all about.

ADB’s report on sovereign default and loss rates demonstrates the low credit risk in ADB's sovereign operations, with an average default rate of 0.54% over the last 34 years and zero new defaults from 2010 to 2021.

Climate change is accelerating the melting of glaciers, threatening the essential services glaciers provide--such as water supply for drinking, hydropower, and agriculture--and increasing the risks of flooding and drought. As Asia and the Pacific's climate bank, ADB is working to protect ecosystems and communities, and enhance livelihoods and opportunities, amid accelerated glacial melt.

Keynote address by Masatsugu Asakawa, President, Asian Development Bank, at the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation Program, 8 November 2024

Intervention by Masatsugu Asakawa, President, Asian Development Bank, on behalf of the multilateral development banks at COP29, World Leaders Summit, 12 November 2024

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Innovative Finance Facility for Climate in Asia and the Pacific Kick-Off Event, 12 November 2024

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.

To support e-commerce, public-private collaboration must prioritize closing the digital divide, supporting small businesses, and promoting environmental sustainability. Strengthening data governance, competition, and tax frameworks are also key to resilient and equitable e-commerce.

World Mental Health Day is a timely reminder that integrating mental health care into schools, workplaces, and communities is critical for improving health outcomes and reducing costs. Expanding digital interventions and peer-support systems are also crucial, particularly in low- and middle-income countries.

Climate change financing is a key part of green finance, essential for driving investment towards climate action and achieving the People’s Republic of China’s (PRC) carbon peaking and neutrality goals.

Cities are engines of economic growth, generating over 80% of the global gross domestic product. As centers of innovation and technological development, they play a crucial role in creating jobs, driving commerce, and providing social services.

Lead exposure remains a significant public health threat in Asia and the Pacific, especially in low- and middle-income countries. The global effort to address lead poisoning must focus on stricter regulations, enhanced healthcare capacity, and coordinated international action to protect vulnerable populations.

Overcoming poor market depth and liquidity is crucial for Asia's capital markets to grow and remain attractive to investors. A coordinated approach addressing regulatory frameworks, market infrastructure, and risk management is essential for building resilient, diverse, and efficient markets.

Inclusive sports can empower women with disabilities, and foster accessibility, social integration, and gender equality in the Pacific. Recent Paralympic milestones and policy examples illustrate the ongoing need for supportive infrastructures and greater representation to create equitable opportunities in sports.

These charts illustrate that despite the broader adoption of disaster risk reduction strategies, escalating greenhouse gas emissions and intensified disaster impacts underscore the urgent need for more robust climate action and support across the region.

Asia and the Pacific is central to global climate change efforts, but robust capital markets are needed to mobilize private climate finance. Sustainable finance frameworks, transition finance, and carbon markets can build deeper markets that empower climate action.

President-elect Donald Trump is starting to fill key posts in his second administration.

The Nuggets are the top seed in Group C in the Western Conference.

Georgiev looks like a different goaltender in early November than he did last month.

Nik Bonitto's production has steadily increased since being taken in the second round out of Oklahoma in the 2022 draft by the Denver Broncos.

This study examines the impact of economic development in forestry on the indigenous people who have traditionally lived in and obtained their livelihood from the forest. It takes villages in East Kalimantan, Indonesia, as a case study.

Case study on Singapore explains the country's resilience to swings in capital flows.

Philippine institutions and governance structures must be strengthened as part of any effort to reform the country's financial supervisory structure.

This paper examines the causes of export success in East and South East Asia and assesses the role of industrial policy.

What should the transitional economies of Southeast Asia do, if anything, to address their multiple currency situations?

This paper examines the impact of family size on children's education in the Philippines.

In a case study on Korea, a VAR model is used to investigate the effects of capital flows on asset prices.

This paper examines the costs and benefits of the multiple currency phenomenon in Lao PDR and considers options in terms of policy response.

Different governance dimensions in Bangladesh are significantly and positively related to its economic development, however, the quality of governance has remained low.

Theoretical and empirical analyses of People's Republic of China's infrastructure and rural development.

To attract infrastructure investment to meet national goals for providing electricity to consumers, India needs continued macroeconomic stability as well as an improved policy and regulatory environment.

This paper is part of a cross-country study on corporate governance in Asia. A consensus has yet to be reached about exactly what factors were behind the crisis of 1998 and how these factors interacted in bringing about the crisis.

Regional disparities within and among Chinese provinces have declined, but are still a serious problem.

South Asian private sector participation in infrastructure development is examined, and recommendations are made for future development.

Research on ICT and capacity building for poverty reduction, focusing on lessons learned from a distant learning course in microfinance.

This paper examines the role of finance in development in the light of the experience of Township and Village Enterprises in the People's Republic of China.

Lack of access to good road networks is a major constraint on the incomes and welfare of the poor. Using household expenditure survey data for Lao PDR this paper models the causes of poverty and shows the impact on poverty levels of road improvements.

This paper analyses economic and social indicators across provinces in the People's Republic of China.

As climate change threatens the cryosphere — the frozen parts of the Earth — at an alarming rate putting almost a quarter of humanity at risk, Pakistan has advocated for coordinated regional efforts and international support to save the eco-system and build climate resilience, particularly across the Hindu Kush and Himalaya region.

The study ‘The State of the Cryosphere 2024’, released on Tuesday on the sidelines of COP29 in Baku, urged urgent action to control emissions to save glaciers, which are melting at a rapid pace due to global warming.

“Under a high emissions scenario…Hindu Kush Himalaya (HKH), may experience up to 80% of ice loss. With very low emissions however, up to 40% of glacier ice in the HKH region could be preserved,” it said, adding that projections in a few glacier regions even show slow re-growth beginning between 2100 and 2300, but only with very low emissions and essentially carbon neutrality by 2050.

Against this backdrop, the environment ministers from the HKH met on Tuesday at the Baku Olympics Stadium to come together to save the “third pole” and to keep global temperatures below 1.5 Celsius.

This gathering aimed to discuss the rapidly increasing climate risks and vulnerabilities in the region and beyond, while identifying areas for urgent collective actions, inevitable to addressing the pressing challenges and fulfilling the hopes of the quarter of humanity impacted by these changes, said a statement.

It stated that over the past decade, the rate of glacier melting in the HKH has accelerated by 65 per cent compared to the previous decade (2000-2010) and the trend is projected to continue.

“Over the last decade, the rate of glacier melting in the HKH has accelerated by 65% compared to the previous decade (2000- 2010), and the trend is projected to continue.”

Speaking at the event, Bhutan Prime Minister Tshering Tobgay said this was an opportune time for the region to unite to push for a new collective quantified role that would directly address the need of the countries which were most vulnerable to climate change.

Pakistan Prime Minister Adviser on Climate Change Romina Khurshid Alam said no country across the HKH region could tackle the climate crisis in isolation and besides regional unity, international response was essential.

She said Pakistan stood for regional partnership aiming to save the ecosystem and species, and build climate resilience. She argued for easy access to climate finance to ensure these countries could erect safeguards to protect themselves from climate change.

She said Pakistan was experiencing first-hand the impacts of climate change, increasing the risk of natural disasters in the form of GLOFs and threatening water security and agriculture as well as biodiversity.

Other speakers included delegates from China, Bangladesh, India, and Nepal. The event was organised by the Kingdom of Bhutan and the International Centre for Integrated Mountain Development.

Bleak state of Cryosphere

According to the State of Cryosphere 2024 report, if the current Nationally Determined Contributions (NDCs) are met, global temperatures will likely reach 2.3°C by 2100, leading to irreversible ice loss, significant sea-level rise, and severe impacts on coastal regions, mountain communities, and polar ecosystems.

In case of a high emissions scenario, the temperature may rise to 3-3.5°C, which will cause extreme damage, including rapid ice sheet loss, the disappearance of glaciers, and widespread permafrost thaw.

However, the 1.5°C temperature in line with the Paris Agreement can help stabilise the cryosphere and preserve part of glaciers but that cannot happen unless there is a drastic cut in emissions.

“This requires urgent action, however, with emergency-scale tightening of mitigation commitments and fossil fuel emissions declining 40% by 2030,” the report added.

In case there is no action to stop the melting of glaciers, “severe and potentially permanent changes to the water cycle, due to loss of snowpack and ice run-off during the warm summer growing season, will impact food, energy and water security.”

Produced as part of the 2024 Climate Change Media Partnership, a journalism fellowship organised by Internews’ Earth Journalism Network and the Stanley Centre for Peace and Security.

Header image: View of the landscape from Langtang, Nepal can be seen in this undated handout image. — Tika Gurung via Reuters

Published in Dawn, November 13th, 2024

• At COP29 leaders’ summit, Shehbaz Sharif reminds West of broken promises, calls for overhaul of global climate financing framework
• Links humanity’s survival with health of glaciers, says Pakistan ready to work with world for their protection
• Meets British, Danish, Turkish, Central Asian leaders among others on sidelines of climate summit

BAKU: Prime Minister Shehbaz Sharif on Tues­day said that debt cannot become the “acceptable new normal” in climate financing, as he addressed the challenges faced by developing countries within the global climate finance framework.

“We stand at a crucial threshold where global climate finance framework must be redefined to effectively meet the needs of vulnerable nations,” he told a Climate Finance Round Table Conference organised by Pakistan on the sidelines of the two-day World Leaders Climate Action Summit.

He explained that finan­c­ing in the form of loans increases the debt of developing nations and pushes them towards “mounting debt traps” which he ref­erred to as “death traps”.

“Debt cannot become the acceptable new normal in climate financing which is why we must resume focus on non-debt financing solutions enabling countries to fund climate initiatives,” the PM said.

“Despite years of promises and commitments, the gaps are growing, leading to aggregate barriers in achieving objectives of the UN Framework Convention on Climate Change (UNFCCC).”

Pakistan is ranked among the top 10 most climate-vulnerable countr­ies, according to the Glo­bal Climate Risk Index 2021. It has faced increasingly frequent and severe weather events, such as unprecedented floods, int­ense monsoon rains, devastating heat waves, rapid glacial melting and glacial lake outburst floods.

Calling climate financing an “urgent need of the hour”, PM Shehbaz said that developing countries need to deliver Nationally Determined Contribu­ti­ons (NDCs) and “need an estimated $6.8 trillion by 2030 to implement less than half of their current NDCs”.

He further urged donor countries to “fulfil their commitment”, which is 4.7 per cent of their gross nat­io­nal product and capitalise on existing climate funds.

The PM said that Pakis­tan can relate to the “agony and pain of other vulnerable countries”, highlighting how the country faced two devastating floods.

While emphasising tra­n­sparency and coordination in financial commitments made to developing countries, he stated that Pakistan alongside other developing countries, calls for stronger more equitable climate finance mechanisms under the UNFCCC.

He reiterated the pertinent need for reform of international financial architecture saying that “now is the time to build up on the momentum for international financial reforms” so that no nation is left behind in the global response to climate change.

Call to protect glaciers

In remarks delivered later at an event on glaciers, the PM linked the survival of mankind with the health of glaciers, adding that Pakistan, as one of the most affected country, was ready to work with the international community to protect these valuable natural resources.

Addressing Glaciers 2025; Actions for Glaciers, hosted by Tajik President Emamoli Rahmon, the prime minister called upon all the countries to unite in the efforts of protecting glaciers from pollution and snow melt by taking concrete and decisive actions to secure the future of glaciers as well as protect the mankind.

He said Pakistan was home to 7,000 glaciers which provided an approximately 60 to 70 per cent water for the Indus River flow, supporting 90pc of agriculture and serving its 200 million people.

However, the glaciers that provide water for this river have been shrinking over a period of time and at an alarming time, which is estimated at about 23pc decrease since 1960, he added.

The prime minister said this retreat was driven by rising temperatures and the consequences of these changes were glaringly visible.

He shared that accelerated glacial melt had led to the formation of more than 3,000 glacial lakes in the northern areas of Pakistan which were posing great threat. Out of these, he said, about 33 lakes were estimated at the risk of outburst flooding, putting lives of over 7 million people in danger.

Meetings with world leaders

On the sidelines of COP29, PM Shehbaz interacted with UAE President Sheikh Moha­m­med bin Zayed Al Nahyan and discussed cooperation on climate change.

Mr Sharif also met with UK PM Sir Keir Starmer, where the two leaders discussed enhan­c­­i­ng bilateral ties.

He also met with Turkish President Recep Tayyip Erdogan and his wife Emine Erdogan, where they discussed environmental pollution as well as matters of mutual interest between the two friendly nations, the report added.

PM Shehbaz also met with the Czech PM Petr Fiala and Danish PM Mette Frederiksen and stressed the need to enhance bilateral cooperation as well as build global consensus on the key climate change priorities.

In his interactions with Nepal’s President Ramchandra Paudel and Bangladesh’s Muhammad Yunus, PM Shehbaz discussed growing temperatures, the threat of rising sea levels, and forest conservation in South Asia.

Kazakhstan President Kassym-Jomart Tokayev and PM Shehbaz explored strengthening bilateral relations. In his meetings with Uzbek President Shavkat Mirziyoyev and Tajikistan’s Rahmon, the leaders spoke about the conservation of glaciers and water resources in Central Asian countries and Pakistan.

With input from APP

Published in Dawn, November 13th, 2024

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