ASEAN at COP29

ASEAN's approved policy paper on combating climate change, a pathfinder for participation in the ongoing summit in Baku

ASEAN member countries express deep concern about the continued rise in global greenhouse gas emissions and the consequence of increased climate risks and impacts on natural and human systems, which remains a significant threat to ecological diversity in the ASEAN region and, in general, to the sustainability of the development gains we have achieved to date. We want to draw attention to the cost of climate change to ASEAN economies, which represents an estimated economic loss of $97.3 billion between 2009-2020 and an estimated adaptation cost of $422 billion through 2030 for the region. We want to highlight the significant progress and new opportunities provided by COP28 and the UAE Consensus to ensure a stable climate, which is an important basis for sustaining development gains in the ASEAN region, taking into account the common but differentiated responsibilities of ASEAN States Parties. For this reason, we call for accelerated implementation of climate action and financial mechanisms under the UNFCCC as evidence of commitment to climate action and rapid and equitable energy transition. We call for recognition of persistent gaps in the implementation of ambitious agreed climate actions, including mitigation, adaptation and finance. And we look forward to the fulfillment of the means of implementation as committed by developed countries, namely finance, technology development and transfer, and capacity building, including the development and implementation of low-emission technologies and enabling infrastructure, which are critical to our transition to a regional low-carbon economy and to ensuring the ability of ASEAN and developing countries to access climate finance. We also look forward to the implementation of decisions taken at previous COPs to strengthen financial support for climate action in developing countries. We also call for recognition of the potential contributions of ASEAN member states through emission avoidance, emission reductions, emission removals, and carbon stock enhancement, depending on scientific and technological advances, international cooperation, and increased support from developed countries, including relevant initiatives related to carbon markets by ASEAN member states to serve as a model for an integrated approach to sustainable development and climate resilience in the region.