Asia and Africa lead the emerging world on 'commitment on climate'
Source: Asia Insurance Review | Aug 2022
Commitment on climate policy in the emerging world is strongest in countries most vulnerable to the impacts of global warming and in those with effective governments but weakest in those reliant on fossil-fuel income according to a new analysis by Oxford Analytica and WTW.
The new edition of WTW Political Risk Index 2022 which surveyed 62 nations and territories found that the governments of Bangladesh, Malaysia, the Philippines, Chile and Senegal are most strongly committed to prioritising climate when making public policy.
Each of these countries ranked four on WTW’s one-to-five scale, where countries that rank only one (Libya, Turkmenistan, and Myanmar) assign little to no weight to climate objectives, and those that rank five (none of the 62) prioritise climate above other major policy objectives. The remaining countries were seen, at best, to give equal weight to combating climate change and other important public policy goals.
New statistical research by WTW identified three factors that correlate significantly with the subjective ratings assigned:
- Vulnerability – governments in emerging-world countries with greater vulnerability to the impacts of climate change appear to show greater commitment to policies such as emissions reduction
- State capacity – climate policy
- Oil and gas income – countries that earn more from fossil fuels appear to show lesser commitment to climate policy
The governments in Africa and Asia lead the emerging world on climate commitment and many Asian countries have a comparative strength in government effectiveness. On a regional average basis, Asian countries tend to have strong policymaking practices and effective bureaucracies capable of carrying out political goals.
Exemplars are Malaysia and China, which rated highly on the strength of their well-developed climate transformation plans. A