Painful Realities: The Urgent Economic Wake-Up Call Amidst the Battle Against Climate Change

In our fast-changing world, our actions are leading us down a perilous path. Globalisation and economic liberalisation may have brought us wealth, but they have also unleashed a terrifying monster: climate change.

This monster is wreaking havoc on our environment, society, and the future of our children. In the Asia-Pacific region, a colossal carbon dioxide (CO₂) monster is on the loose, having produced 17.96 billion metric tons of CO₂ emissions in 2022, more than the combined total emissions of all other regions that year, with CO₂ accounting for roughly 75% of greenhouse gas emissions and being the main driver of climate change (Tiseo, 2023).

Climate change, according to the Intergovernmental Panel on Climate Change (IPCC, 2022), will cause increased floods and droughts, as well as heat stress, which will have a negative impact on food availability and prices, resulting in increased undernourishment in South and Southeast Asia. Despite accounting for only 0.01% of all living beings by weight, humans are responsible for the extinction of 83% of wild mammals and half of all plant species, according to a World Economic Forum (2020) report.

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