Advancing green development in Asia: Challenges and opportunities

Editor's Note: Liu Ming is an assistant researcher with the Department of Economic Forecasting at China's State Information Center. The article reflects the author's views and not necessarily those of CGTN.

Climate change is a major global challenge. On March 25, the Boao Forum for Asia 2025 Annual Conference released its flagship report, Sustainable Development: Asia and the World Annual Report 2025 – Addressing Climate Change: Asia Advancing Green Development. The report highlights Asia's multi-faceted green transformation driven by policy, industry guidance, and market forces.

While Asia has made notable progress in green development, it still faces multiple challenges. Global temperatures continue to break records, with the climate change impacts worsening. The EU's Copernicus Climate Change Service (C3S) reports that after the hottest year on record in 2024, January 2025 has become the warmest ever, with February ranking the third since records began in 1994. Glaciers are melting at an unprecedented rate, atmospheric CO2 levels are at their highest in nearly 800,000 years, while coral bleaching is becoming increasingly severe and widespread.

Asia bore the brunt of extreme weather in 2024, with multiple countries facing severe climate-related disasters. In the Persian Gulf, perceived temperatures surpassed the "extremely dangerous" threshold (54°C) for several days. From June 14 to 19, a record heatwave in Saudi Arabia claimed the lives of at least 1,301 Hajj pilgrims.

The climate funding gap is widening as costs surge and commitments fall short. With extreme weather events becoming more frequent, the demand for climate finance is rising, yet developed nations' contributions have lagged behind their pledges. At the COP29 World Leaders' Climate Action Summit, UN Secretary-General António Guterres warned that by 2030, the annual shortfall for climate adaptation could reach $359 billion, stressing the urgent need to fulfill financial commitments.

The US withdrawal from the Paris Agreement under the Trump administration and its return to a "declimatization" policy have significantly hindered global emission reduction efforts. Geopolitical turmoil and rising protectionism have slowed economic recovery, heightening instability and uncertainty. These challenges have weakened Asian integration and complicated regional cooperation and policy coordination.

While facing the challenges of climate governance, Asia also presents significant opportunities for transformation. Green and sustainable development is now a global consensus, with the green transition gaining momentum. According to International Renewable Energy Agency's Renewable Capacity Statistics 2024, global renewable energy capacity grew by a record 473 GW in 2023, a 13.9 percent year-on-year increase, reaching 3,870 GW by year-end. Asia led this growth, adding 327.8 GW — 69.3 percent of the global total — bringing its total installed capacity to 1,961 GW, or 50.7 percent of the world's renewable energy.

Asia has made significant strides in emerging green technologies, including advanced battery materials, bio-based biodegradable plastics, green hydrogen, carbon capture, utilisation and storage, and digital carbon management. The region has also advanced in AI, exemplified by DeepSeek, creating strategic opportunities to lead the global green transition.

China remains unwavering in its commitment to green development, serving as a pivotal driving force for the global green transition. The country has made proactive climate action a national strategy, setting clear carbon peaking and neutrality goals that reflect its global leadership. As the world's largest operator of renewable energy systems and home to the biggest carbon market by covered emissions, China has integrated sustainability into its development. Since the 18th CPC National Congress in 2012, it has sustained an average annual GDP growth rate of 6.1 percent with just a 3.3 percent energy consumption growth, reducing energy intensity by 26 percent and carbon emission intensity by 35 percent by 2023 compared to 2012 levels.

China follows the principle of "teaching a man how to fish is better than feeding him fish," actively sharing its climate mitigation expertise globally. As a leader in green technology patents and environmental protection equipment, it has provided sustainable solutions to many countries. By June 2024, China had signed over 50 climate cooperation agreements with 42 developing nations, offering assistance to strengthen their climate resilience.

This year marks the 80th anniversary of the United Nations and the 10th anniversary of the Paris Agreement. As a key player in global climate governance and a strong advocate of multilateralism, Asia should enhance cooperation under the UN framework. Based on the progress of the UNFCCC Conference of the Parties, the region must uphold the principle of "common but differentiated responsibilities" and work together to combat climate change.