A green push for Asia (AlertNet)

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As Asian growth slows, a green push could pay – experts

By Chelsea Diana

LONDON (AlertNet) – As Asia moves away from export-led growth, the need to invest in green growth instead is key, panelists said at an Overseas Development Institute-held discussion.

But, who is green growth for and what implications does it have for both the public and private sector?

The answer is complicated, with some seeing “inclusive” green growth as a way to reduce poverty, while others see poverty reduction as the eventual result of an improved and more resilient economy.

ASIA IN CRISIS

Global financial crises have had a major impact on Asia, which has seen declines in exports and GDP growth. Masahiro Kawai, chief executive of the Asia Development Bank Institute, said inclusive green growth could help.

To cope with changing conditions, inter-regional trade has become more common in Asia, in particular incorporating developing countries such as India and Cambodia into supply chains.

With more countries involved in regional trade, green growth, specifically low-carbon growth, will be key to ensuring environmental stability, improvement of human health and pollution reductions, he said.

GREEN ECONOMICS

With environmental degradation and climate change making big impacts on the continent, one solution is to focus on the three pillars of green growth: environmental, economic and social, said Alex Bowen, a green growth research fellow at the London School of Economics and Political Sciences.

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