With 2020 witnessing the COVID-19 pandemic and being the warmest year on record, there is an urgent need to decouple economic growth from greenhouse gas emissions in order to transition the Asia-Pacific region toward carbon neutrality. A few countries in the Asia-Pacific region — including Japan, South Korea, Bhutan, Fiji, the Maldives, the Marshall Islands and Nepal — have declared their aim to be carbon neutral by 2050; and China has set its target as 2060. These commitments are incorporated in their nationally determined contributions. Related: The pandemic year ends with a tokenized carbon cap-and-trade solution - Increase in the use of carbon taxes - Increase in the ability to adapt to climate change; - Increase pandemic spending for greener activities. These recommendations are aimed at addressing climate change in the Asia-Pacific region. Turning digital technology innovation into climate action in the Asia-Pacific region Related: How the digital yuan stablecoin impacts crypto in China: Experts answer The world’s top solar energy adoption is in the Asia-Pacific region Selva Ozelli, Esq., CPA, is an international tax attorney and certified public accountant who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD.

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