Low Carbon Green Growth in Asia: What is the Scope for Regional Cooperation?
This paper develops a framework to assess the scope of collaboration among countries that are pursuing low-carbon green growth. Much of the policy studies in the area of low-carbon green growth have focused on individual countries or a group of countries. Little attention is given to how countries can work together to pursue the low-carbon green growth agenda. Developing Asia has been witnessing rapid growth in economic activities, both at the sub-regional level and Asia-Pacific wide. There is therefore much scope for market-based and other forms of regional cooperation to augment domestic actions. For example, there are other pressing development needs and resource constraints at the national level that limit the scale or ambition of policies. Regional cooperation can help to overcome those constraints by providing additional resources for incremental costs, technical assistance, and policy support. This paper examines several critical areas such as technology, finance, and capacity building, where regional cooperation will have a significantly greater payoff than will actions by any country alone. The paper concludes with concrete policy actions to realize the regional cooperation potential in developing Asia.