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Developing the credit markets will address a funding gap for nature-based solutions, said Tharman Shanmugaratnam. His proposal faced pushback from other panellists at the World Economic Forum who cautioned against commodifying nature.
Asia Pacific nations face mounting climate costs as the world crosses the 1.5°C threshold, with extreme weather driving inflation, disaster risks and a US$815 billion annual financing gap for adaptation and resilience.
A new natural capital accounting law and approved global carbon market trading rules could drive nature-based solutions. Eco-Business examines six key trends in the Philippines' push for decarbonisation and a just transition.
Delivering his address at the World Economic Forum, vice-premier Ding Xuexiang said China’s green pursuits are long-term and not “an act of expediency”. He is the first senior Chinese leader to address concerns over an imminent tariff war since US president Donald Trump kicked off his second term.
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