If Asia and the Pacific adopts a new “development strategy,” the region could be a potential world leader in the green global market, the Asian Development Bank (ADB) said in a statement Thursday.
“The global market for green goods and services is vast and growing and with the right policies and investments, Asia and the Pacific could lead the world towards a more sustainable future,” said ADB’s director for environment and safeguards Nessim Ahmad.
The bank’s report, “Green Growth, Resources and Resilience,” cited that the new infrastructure investment in the coming years is geared towards “sustainable infrastructure” projects which would be “profitable” in the end.
“About two-thirds of the $8 trillion needed for infrastructure in the region between now and 2020 will be in the form of new investment, opening up huge opportunities for businesses who can design, finance, build and manage green buildings, transport systems and other sustainable infrastructure,” according to the bank.
“With the right policies and incentives, ‘greening’ the economy can be made viable and profitable in the long-term,” it added.
ADB ranked region as the “world’s largest resource user” since the mid- 1990s. If it continues, it could take its toll on the environment.
The bank warned, “If current trends continue, its CO2 emissions are likely to more than triple by 2050, putting an unbearable strain on the earth’s ecosystems.”
ADB’s report was prepared jointly with the United Nations Economic and Social Commission for Asia and the Pacific, and the United Nations Environment Programme in preparation for the 2012 United Nations Conference on Sustainable Development (Rio+20), which will be held in Rio de Janeiro, Brazil in June. — With Rouchelle Dinglasan/GMA News