Panel Discussion

Yongping Zhai and Preety Bhandari emphasized that while institutions such as ADB can help mobilize financing towards low carbon and climate resilient development, the bulk of climate financing originates in countries where they are deployed. Ultimately, the greater role will lie on governments in ensuring that national policies are in place so that national budgets are allocated towards this purpose and incentives are provided to the private sector to channel funds in the right direction.

Remarks

In his remarks, James Lynch highlighted the need for new approaches and integrated solutions to achieve carbon neutrality in the region, generate new revenues from renewable energy, and channel more private investments into research and development.

James Lynch

James Lynch was the Director General of the East Asia Department of Asian Development Bank (ADB) in Manila, Philippines. He assumed office in February 2020.

Mr. Lynch managed ADB’s sovereign operations in the People’s Republic of China and Mongolia across multiple sectors and thematic areas, including transport, energy, environment, climate change, health, education, and public finance. He was also responsible for ADB’s relations with Hong Kong, China; Republic of Korea; and Taipei, China.

Rural Prosperity with Carbon Neutrality and Food Security

Rural regions have the advantage of not only having the space for solar and wind energy production - which are low-carbon electricity technologies - but also have the potential to generate carbon neutral bioenergy. This scenario sets the opportunity on leading the process towards carbon neutrality. However, rural carbon neutrality does have implications for food security as food-land-nexus complicates the interactions.