As the climate stews, all eyes turn to Paris

Thais are not alone in experiencing unusual weather. A guide in Budapest said recent years had seen November temperatures plummet as low as zero before soaring to 40C in summer, which is lingering longer and longer. More people are installing air-conditioners at home in the Hungarian capital, she said.

The impacts of climate change are obvious, and they highlight the importance of the ongoing 2015 UN Conference on Climate in Paris (COP21), which runs through December 11.

Global leaders, including our own prime minister, have arrived in Paris for talks to achieve the first truly universal climate pact, which would legally bind 195 nations to new emission limits from 2020. The goal is to limit global warming to 2C over pre-industrial levels.

As people across the world continue to feel the pinch of climate change, there are positive signs that the deal will be achieved. The greatest pain is being suffered in developing countries, which have fewer resources to mitigate the impacts. Between 2003 and 2013, natural disasters in developing countries affected more than 1.9 billion people and caused over US$494 billion in damage, according to a report by the Food and Agriculture Organisation.

Most of that damage occurs in the agriculture sector, which accounts for an average 30 per cent of gross domestic product and a large proportion of workforces. In Thailand, about 20 million of the 30 million-strong workforce are in agriculture, which contributes 10 per cent of GDP.

While people in Bangkok complained about incessant rain in November, several provinces were in the grip of worsening drought. Without water, farmers can’t grow crops. That means more are migrating to big cities in search of work, adding to the burden of economic and social problems. Meanwhile Thailand is among the top five exporters of major crops like rice and sugar, which means our severe weather will affect the world.

For years now, rich countries have traded barbs with their poorer counterparts over the latter’s insistence that they be able to rely on climate-damaging fossil fuels to catch up with developed economies. Now, regardless of economic status, all countries are suffering.

World leaders now seem to be in agreement that, if left unchecked, the current trend of rising temperatures is a recipe for more superstorms, droughts and rising sea levels that will swamp the land. That explains why the leaders of 150 countries have agreed to meet in Paris this week.

Ahead of the summit, over 100 countries have submitted plans to cut their carbon emissions. Thailand has pledged to reduce greenhouse-gas discharge by 20 to 30 per cent by 2030, which would cut 555 million tonnes of carbon dioxide per annum. 

The Thai master plan drafted to mitigate impacts also includes a comprehensive water-management strategy to reduce flooding and drought.

Assisting the United Nations in this mission are the World Bank and the International Monetary Fund.

IMF managing director Christine Lagarde stated that at-risk countries need to embrace macroeconomic policies to accommodate more frequent weather shocks, including by building policy space to respond to shocks and upgrading infrastructure to enhance economic resilience. She stressed that developing countries seeking to make these adaptations must have access to sufficient financial support on generous terms.

Meanwhile, financial markets have an important role to play in helping economic agents and governments cope with the fallout of climate shocks. And heightened climate vulnerabilities and the structural adjustments associated with a shift towards a low-carbon economy over the medium term will have important implications for financial institutions and financial stability.

Responding to this, Canada has pledged US$2.8 billion in climate funding over the next five years, while the 53-nation Commonwealth bloc agreed last Friday to set up a billion-dollar “Green Finance Facility” for environmental projects.

Some global business leaders have also realised the urgency of the issue. To Paul Polman, chief executive officer of Unilever, the biggest risk to African growth is climate change.

Even global jewellery retailer Tiffany & Co acknowledges the need to achieve net-zero emissions by 2050.

Yet while it is true that Thailand and the world have already taken impressive steps, the reality of climate change means far-sighted vision is urgently required from world leaders.

For Thailand and other developing countries to cut their reliance on coal in generating power, new renewable energy tech must be made cheaper. This can be achieved in a short period only with the financial support and know-how of rich countries.

If consumerism is to be blamed for the rapid growth of industrialisation in recent decades, the world needs new policies to instil greater awareness. It seems ironic that at this moment, shopping districts the world over are ablaze with lights, and heating or air-conditioning to lure local and foreign customers. Thailand is a part of this consumer-driven madness, which is oblivious to climate change.

It also helps explain why Thai fuel consumption increased this year, as oil prices fell.

But ordinary citizens are concerned at the fate of their planet, reflected in rallies staged across the globe last weekend.

Now, all eyes are on Paris and the world expects financial and other commitments to tackle the impacts of accelerating climate change.

Ban Ki-moon, secretary-general of the United Nations, said: “We are the first generation to be able to end poverty, and the last generation that can take steps to avoid the worst impacts of climate change. Future generations will judge us harshly if we fail to uphold our moral and historical responsibilities”.