Climate change is already a reality. The deadly bushfires in Australia, ferocious flooding in Indonesia and extended droughts in Vietnam have led to the destruction of infrastructure, investments and livelihoods. Yet across Asia, acceptance of this reality has not yet changed consumer behaviors across the region.
After a temporary slowdown in the past five years, greenhouse gas emissions rose to a historical high of 33.1 billion tons in 2018. Globally, fossil fuel-related carbon emissions rose by 1.7 percent from the previous year. There is a sustained increase in coal, oil and gas consumption in China, India and ASEAN, pointing to a seeming neglect of climate change concerns as Asia chases faster economic growth.