{"id":87779,"date":"2024-11-05T00:00:00","date_gmt":"2024-11-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/11\/05\/emissions-put-developing-asias-gdp-at-risk\/"},"modified":"2024-11-05T00:00:00","modified_gmt":"2024-11-05T00:00:00","slug":"emissions-put-developing-asias-gdp-at-risk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/11\/05\/emissions-put-developing-asias-gdp-at-risk\/","title":{"rendered":"Emissions put developing Asia\u2019s GDP at risk"},"content":{"rendered":"

Lack of climate action could cut developing Asia\u2019s GDP by 17% by 2070: <\/strong>If emissions remain high, developing Asia \u2014 counted as 46 Asia-Pacific countries from Georgia to Samoa but not including Japan, Australia, and New Zealand \u2014 could see a 17% loss in GDP by 2070 and a 41% loss by 2100, Reuters<\/a> reported, citing a report<\/a> by the Asian Development Bank (ADB). The losses would mainly stem from rising sea levels and insufficient labor productivity. Developing Asia has managed to reduce emissions by 50% since 2000 but still produces almost half of global emissions due to increasing energy demand and consumption. The report estimates that USD 102-431 bn will be needed annually for regional countries to adapt to climate change.<\/p>\n

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Defense concerns halt Sweden\u2019s offshore wind ambitions:<\/strong> Sweden rejected applications for 13 offshore wind farms it previously planned in the Baltic Sea, citing defense vulnerabilities, Reuters<\/a> reported. The farms planned on the country\u2019s eastern coast would undermine the country\u2019s air defenses\u2019 ability to detect and intercept missiles, halving reaction time to just one minute, the country\u2019s Defense Minister Pal Jonson said. This would be an acceptable risk for Sweden, whose capital is 500 km away from Russia\u2019s exclave of Kaliningrad. Meanwhile, the country has greenlit its Western coast offshore farms.<\/p>\n

Falling behind:<\/strong> The move sheds doubt over Sweden\u2019s ambitious plan to double its electricity generation to about 300 TWh in the next two decades. Despite favorable conditions for offshore wind power in Sweden, the clean energy source has already seen limited development due to financial concerns over grid connection costs.<\/p>\n

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<\/a> Chinese-owned solar factories relocate to Indonesia to avoid US tariffs: <\/strong>Major Chinese-owned solar factories in Vietnam are shifting operations to Indonesia and Laos to avoid the expanded US tariffs targeting China-linked solar imports from Vietnam, Thailand, Malaysia, and Cambodia, Reuters<\/a> reports. The companies want to use the new facilities in Indonesia and Laos to supply nearly half the solar panels installed in the US last year.<\/p>\n

ICYMI-<\/strong> The US Commerce Department announced preliminary tariffs on solar imports from Southeast Asia last month<\/a> on the claim that the panels are benefiting from illegal foreign subsidies to supply products at prices lower than their cost. The general rates are 8.25% for Cambodia, 9.13% for Malaysia, 23.06% for Thailand, and 2.85% for Vietnam, while company-specific rates will be 14.72% on Hanwha Q Cells Malaysia imports, 3.47% on imports from JinkoSolar Malaysian entities, 0.14% for Trina Solar, and 2.85% for some JA Solar Technology operations in Vietnam. <\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n