The economies of East Asia and the Pacific region are starting to bounce back after the shocks caused by the COVID-19 Pandemic and the impact of climate change-induced natural disasters.

The Opening Session of the Science Policy Business Forum-Asia Pacific will examine pathways for a sustainable, equitable and inclusive rebound from COVID-19 that is good for the people, the planet, and economies.

According to the World Bank, the recovery has been uneven, with only China and Vietnam surpassing pre-COVID growth levels. Small Island economies continue to suffer severe economic contraction that is 10% below pre-pandemic levels. Poverty in the region is at its highest in 20 years and 32 million people were prevented from escaping poverty.

East Asia and the Pacific is the largest contributor to greenhouse gas emissions, accounting for one-third of the world’s carbon dioxide emissions and 60% of its coal consumption. At the same time, the region bears the brunt of 70% of the world’s natural disasters, which have affected more than 1.6 billion people, since 2000.

In 2020, Pacific Island countries, among the most vulnerable to climate impacts, were devastated by climate-induced disasters, including Category Five Tropical Cyclone Harold, which left a path of destruction across Fiji, Tonga, Solomon Islands, and Vanuatu in April 2020. Following that, in December 2020, the Category Five Tropical Cyclone Yasa made landfall in Fiji, which caused significant damage and the loss of four lives across two islands. 2021 has already seen two severe Tropical Cyclones in the Pacific.

According to the International Panel on Climate Change, human influence has warmed the climate at a rate that is unprecedented in at least the last 2000 years. It is a ‘code red’ for humanity that we need to act now.

The landmark study, described by the UN Secretary General as a “code red for humanity”, warns of increasingly extreme heatwaves, droughts and flooding, and a key temperature limit being broken in just over a decade.

But scientists say a catastrophe can be avoided if the world acts fast. There is hope that deep cuts in emissions of greenhouse gases could stabilise rising temperatures.

Yet, rapid urbanization and business demands are feeding a massive need for investment in infrastructure across the region, such as electricity access, adequate sanitation, and broadband infrastructure and connectivity. Fragility and conflict are also intensifying in some countries.

According to UNEP’s report “Making Peace with Nature”: Climate change, biodiversity loss and pollution add up to three self-inflicted planetary crises that are closely interconnected and put the well-being of current and future generations at unacceptable risk.

Ambitious and coordinated action by governments, businesses and people around the world can prevent and reverse the worst impacts of environmental decline by rapidly transforming key systems including energy, water, and food so that our use of the land and oceans becomes sustainable.

Transforming social and economic systems means improving our relationship with nature, understanding its value, and putting that value at the heart of our decision-making. Time is not on our side.