Developing sustainable land-use practices, implementing comprehensive water and waste management strategies, transitioning to renewable energy and integrating climate-smart practices are needed to achieve a sustainable economic future, said President of Economic Research Institute of ASEAN and East Asia (ERIA) Professor Tetsuya Watanabe.
He said this in a keynote presentation on ‘Fostering a Green, Connected, and Biodiverse ASEAN for a Sustainable Future’ during the Brunei Darussalam Conference on Biodiversity at the International Convention Centre in Berakas yesterday.
He said that Southeast Asia, as one of the most biodiverse regions on the planet, is facing an unprecedented inter-linked crisis that has implications on ecosystem services.
“Evidence shows that biodiversity is declining at alarming rates, with 40 per cent of genetic biodiversity already extinct. Deforestation is at a rate of 8.000 square kilometres per year, resulting in a seven-per-cent decrease of regional rainfall. These interconnected challenges threaten not only ecosystems but also the foundation of economic growth and the well-being of societies. While ASEAN economy is growing rapidly now, it may face a six-per-cent gross domestic product decline by 2050 due to climate change unless it is mitigated through proper policy strategies.”
He also said that waste generation is another major concern.
“ASEAN is producing nine per cent of the world’s waste and is expected to double by 2050. The energy sector also presents a challenge with demand for coal, oil, and natural gas is expected to quadruple in the next two decades,” he said.
Professor Watanabe added that “the ASEAN Digital Economy Framework (DEFA) is a critical component of the strategy for sustainable development. By leveraging digital technologies, ASEAN can drive inclusive growth and sustainability”.
Digital technologies, he said, “can significantly impact climate mitigation efforts. Digital emission tracking and carbon footprint monitoring can help reduce greenhouse gas emissions. Blockchain technology offers a decentralised and transparent platform for verifying carbon credits, ensuring accountability in carbon markets”.
Smart sensors, big data, and analytics, he explained “can enhance resilience against natural disasters by providing real-time information and predictive insights. However, to fully realise these benefits, ASEAN must establish regionally coordinated mechanisms that support the development of diversified renewable energy supply chains, underpinned by block chain technologies”.
In line with achieving the ASEAN Community Vision 2045, he said, “the region needs new types of partnerships and collaborations that bring together digital technology developers, environmental and energy experts and policymakers”.
Mandated by leaders of the Asia Zero Emission Community (AZEC), he said, “ERIA will establish the Asia Zero Emission Centre within its office and are keen to working closely with the ASEAN Centre for Climate Change (ACCC) that will be hosted in the Sultanate to achieve our shared-vision of net-zero emissions and a resilient economy in the region”.
Meanwhile, ERIA recently signed a memorandum of understanding with Universiti Brunei Darussalam to collaborate and advance research and initiatives on technology and digital innovation that will benefit the Sultanate and ASEAN as a whole. – James Kon
