Climate Change Could Derail Economic Progress in the Pacific — ADB
Countries in the Pacific should step up their efforts to adapt to more extreme weather conditions and mitigate disaster risks to improve the region's economic growth and development prospects, according to the latest issue of the
"Many Pacific countries have taken steps to improve resilience, such as integrating climate change adaptation and disaster risk reduction into their national policies, climate-proofing infrastructure, and building financial resilience," said
The subregion's growth outlook for 2018 is adjusted downward slightly to 3.2%, due largely to dampened economic prospects for some of the North Pacific and small island economies. As a positive development, visitor arrivals in the
The Monitor,
Articles in the Monitor look at the effects of climate change on tourism in
A topical policy brief in the Monitor discusses ADB-supported efforts to promote low-carbon development, climate-resilient infrastructure, regional knowledge-sharing, and innovative financing solutions in the Pacific. It also provides a tool kit of options to build financial resilience to the impacts of climate change. These include disaster-contingent lines of credit and sovereign insurance schemes that may be tapped to help Pacific economies recover in the wake of disasters. Another policy brief looks at urban solid waste management in Timor-Leste and strategies to reduce greenhouse gas emissions.
Other articles in the Monitor examine the current policy framework for state-owned enterprises in Timor-Leste, and efforts by the recently-formed government in
The Pacific Economic Monitor is a bi-annual review of economic developments and policy issues in ADB's 14 developing member countries in the Pacific. In combination with the Asian Development Outlook series, ADB provides quarterly reports on economic trends and policy developments in the Pacific. The Monitor welcomes contributions of policy briefs from external authors and institutions.
ADB, based in
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