The world is facing a climate and environmental crisis with clear manifestations in Asia. As the most populated region on the planet, the impacts of climate change are expected to have severe consequences for the most vulnerable and poor. Droughts and floods have already intensified in Asia. There were 30 million climate migrants in 2010, with a predicted 700 million to be affected by climate change by 2025.
China has become the world’s leading emitter of greenhouse gases (although in relation to population it is far below Western countries), with India in a similar situation. The key questions are if and how Asia’s booming economies can shift from their present trajectory to a more equitable, ecological and democratic path. This is important not only for ensuring social development and democracy, but because the ecosystems and resources underpinning the livelihoods of the vast majority of people in Asia are being destroyed by “business as usual” economic growth.
The processes and status of negotiations in the UNFCCC do not reflect the urgent and necessary actions needed to stop and reverse climate change. Instead, false solutions based on carbon market mechanisms and the financialization of nature are being promoted. The finance required to address climate change is merely a promise from developed countries. The negotiations, instead of strengthening the commitments of developed countries, ridicule whatever value left in the Kyoto Protocol.
In parallel, a policy of global commodification of the services of nature is being promoted under the “Green Economy”. If this is implemented the crisis will deepen: it is not possible to apply market rules to nature’s functions. A new market of environmental derivatives will only create a new source of speculation in the current system.
