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COP29: Why Climate Resilient, Inclusive Infrastructure is Essential to 2040 Net Zero Goals in Southeast Asia
As global attention turns to COP29, the imperative of building climate-resilient, inclusive infrastructure in Southeast Asia has become a central discussion point. The region, known for its economic dynamism and rapid urbanisation, faces a dual challenge: the rising risks posed by climate change and the pressing need for sustainable development that reaches all segments of society. Meeting the ambitious 2040 Net Zero targets will require more than just reducing emissions – it will demand building robust infrastructure that can withstand climate shocks and contribute to equitable growth.
The impacts of climate change are already evident across Southeast Asia. Increased frequency of extreme weather events, such as floods, droughts, and typhoons, have caused severe disruptions to infrastructure, affecting millions of people. From damaging transport networks to disrupting energy supplies, the cost of inadequate infrastructure is staggering, not only in economic losses but also in human lives and livelihoods. Southeast Asia’s infrastructure investment gap, projected at US$3 trillion by 2040, adds further complexity to achieving Net Zero ambitions. Addressing this gap requires a proactive approach to ensure that infrastructure is both climate-resilient and inclusive, helping the region better cope with extreme weather events while ensuring that all communities benefit from sustainable development.
For P4I, ensuring that climate resilience and inclusivity are embedded in infrastructure decision making, policy planning and reform is our core business. Working together with Southeast Asian nations to enhance the capacity of partner governments to integrate climate risk assessments and resilience planning into their infrastructure projects, P4I provides technical advice, fosters public-private partnerships (PPP), and supports policy reforms. For instance, we have worked with Royal Government of Cambodia on approaches to prioritising public investment and engaging with the private sector and in the Philippines, P4I has facilitated a policy dialogue on PPPs.
At COP29, the conversation around climate resilience and inclusivity is shifting towards financial solutions. PPPs and innovative finance mechanisms, like blended finance, are emerging as vital tools to bridge the investment gap. These approaches are crucial for mobilising the private sector to invest in infrastructure that prioritises climate resilience and inclusivity. For example, by taking first-loss positions, development banks and governments can de-risk investments, making infrastructure projects more appealing to private investors. This model is critical for Southeast Asia, where attracting private capital is essential to meet growing infrastructure needs in a sustainable way.
In addition, designing infrastructure with inclusivity in mind means that its benefits are accessible to all, particularly marginalised communities, women, and people with disabilities. By incorporating principles of inclusive design, infrastructure projects can improve quality of life, create economic opportunities, and ensure that no one is left behind in the pursuit of Net Zero goals. Inclusive, resilient infrastructure supports not only the region’s climate adaptation strategies but also social and economic well-being, which are essential components of long-term sustainability.
COP29 represents a pivotal moment for Southeast Asia. As nations come together to discuss and commit to the Net Zero future, the focus must be on resilient, inclusive infrastructure that can support rapid decarbonisation while improving the resilience of communities. Climate change is not just an environmental issue – it is a development challenge that demands equitable solutions. By prioritising climate-resilient, inclusive infrastructure, Southeast Asia can turn the challenges of climate change into opportunities for transformative growth, building a future that is not only greener but also fairer for all.
