Regional effort on climate change sought

http://www.bangkokpost.com/311008_Business/31Oct2008_biz35.php

NAREERAT WIRIYAPONG

Thailand should work more closely with its neighbours and other Asian countries to address the challenges of climate change more comprehensively, the Asian Development Bank (ADB) said yesterday.


Regional co-operation in several areas could help reduce the increasing risks of climate change, in addition to individual problems country by country, said Jean Pierre Verbiest, country director of the ADB's Thailand Resident Mission.


Asian countries should agree regionally on issues such as deforestation and slash-and-burn farming to avoid risks that banning such activities in one country would lead to more severe problems in a neighbouring one, noted Mr Verbiest.


''Climate change has now become a major global concern,'' he said. ''The ADB is strategically positioned to work with developing countries of Asia and the Pacific region to co-ordinate efforts in promoting sustainable development and greenhouse gas (GHG) mitigation.''



An example of regional co-operation is the power grid that Thailand has promoted for many years, allowing the kingdom to buy energy from neighbouring Laos, Burma and Cambodia to optimise production, he said.


The ADB is one of the few international institutions that support Clean Development Mechanism (CDM) projects in the region in terms of technical and financial assistance.


CDM is a concept that allows developing countries such as Thailand to sell carbon credits to industrialised nations that must make emission reduction obligations under the Kyoto accord.


Carbon credits are an instrument used in emission trading schemes globally.


Mr Verbiest said the ADB had set up the $150-million Asia Pacific Carbon Fund to provide bridge financing for CDM projects in the region.


Currently, the bank has three ongoing CDM projects valued at a total of $10 million managed under the fund, with many others in the pipeline.


The ADB will co-host a conference on climate change on Nov 13 to discuss the impact of global warming on livelihoods, ecological systems and the economic well-being of the people affected.


The local consultancy Team Group and the Stock Exchange of Thailand are co-sponsoring the conference, which aims to attract both government and business leaders to explore ways to mobilise resources for CDM facilities.