Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/298155 
Year of Publication: 
2023
Series/Report no.: 
ADB Economics Working Paper Series No. 709
Publisher: 
Asian Development Bank (ADB), Manila
Abstract: 
This paper uses a global integrated assessment model to assess how developing Asia, the world's fastest-growing source of carbon emissions, could transition to low-carbon growth. It finds that national net-zero pledges do not have a high chance of keeping peak warming below 2êC. Under an efficient approach to achieve the Paris Agreement goals, the power sector would almost fully decarbonize by mid-century, and emissions from land use would strongly fall. Although the climate has a lagged response to emissions reductions, climate benefits outweigh costs by a factor of 3, with gains concentrated in the lowest-income subregions of Asia. Air quality would also improve, saving about 0.35 million lives in the region by 2050. Including these co-benefits raises the benefit-cost ratio for Asia under ambitious decarbonization to 5. Energy-related employment also rises during the transition. However, appropriate policies are needed to address potential effects on disadvantaged groups.
Subjects: 
climate change
greenhouse gas
mitigation
energy
land use
net-zero
NDCs
JEL: 
C61
D58
Q52
Q53
Q54
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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