Contrary to the detrimental effects that the COVID-19 outbreak has had on the healthcare system and socio-economic activity, the environment has been impacted in an intriguing way. As the pandemic spreads in many regions and lockdown measures have brought global economic activity to a halt, scientists have confirmed that air quality in certain regions has improved in countries severely affected by the virus. In the long term, the COVID-19 pandemic will offer lessons and opportunities for policy makers and stakeholders leading to environmental action. The new normal and new ways of tackling many issues, including climate change, will adjust to become more resilient.
In the coming decades, water, energy and food demands are projected to increase across all of Asia and the Pacific due to population growth, consumption, and lack of adequate infrastructure. This is particularly alarming for developing countries in the region, which are among the most climate and disaster-vulnerable countries in the world. Implementing national climate and development plans, including achieving their Nationally Determined Contributions (NDCs) and targets of the Paris Agreement, many countries have expressed a need for external financial, technical, and capacity development assistance to meet these objectives.
ADBI and the CAREC Institute will provide a knowledge-sharing platform through which policy recommendations related to climate insurance, infrastructure, and innovative schemes to promote private sector participation and increase financing for mitigating the impacts of climate change. Participants will also have the opportunity to engage in policy dialogue to share country experiences and enhance regional cooperation.