KARACHI, Pakistan

The Boao Forum for Asia (BFA) Tuesday released its annual report on Asia's efforts and challenges in addressing climate change, calling for investing in infrastructure, and cross-border carbon markets to achieve a green transition.

Titled "Sustainable Development: Asia and the World Annual Report 2025 – Addressing Climate Change: Asia Going Green," the report was released at the forum's opening news conference in southern Hainan province.

The forum is being held from March 25 to 28 in the coastal town of Boao, with the theme "Asia in the Changing World: Towards a Shared Future."

Asia, which hosts nearly 60,% of the global population and covers about 30% of the Earth's land area, accounted for over 50% of global carbon emissions in 2023, driven by rapid industrialization and energy demand, according to the report.

It cited Typhoon "Yagi" in southern China and wildfires in Indonesia over the past year, as examples of an escalating climate crisis, which reflect the pressing need for accelerated and comprehensive climate action.

To cope with the challenge, the report emphasized the urgent need for climate action in Asia, which faces disproportionate risks due to its dense population, economic reliance on fossil fuels and exposure to extreme weather events.

Noting that Asia was stepping up its green transition, it said: "The International Energy Agency estimates a threefold growth of the clean energy technology market in the next decade. Asia is already leading the way."

"For example, China is the world's largest exporter of clean technologies; India is accelerating its hydrogen energy development; Saudi Arabia and the United Arab Emirates are experiencing a surge in new energy investments; and ASEAN countries are further exploring their green potential."

Achieving a green transition requires a focus on two strategic pillars: infrastructure and cross-border carbon markets, the report highlighted.