The Costs of Extreme Weather Events Caused by Climate Change 

In this seminar, Ilan Noy, Chair in the Economics of Disasters and Climate Change and Professor of Economics at Victoria University of Wellington, New Zealand will present his recent paper on the costs of extreme weather. 

Globally, climate change is already increasing the severity of some extreme weather events, such as, rainfall during cyclones, including in the PRC. Extreme Event Attribution (EEA), a branch of climate science, quantifies the extent to which anthropogenic climate change has modified the frequencies and intensities of specific extreme weather events that have already occurred. However, little previous research has combined this information with socio-economic data to provide useful insights about the economic costs of extreme weather events that were caused by climate change. The study collects data from all available EEA studies, combines these with data on the socio-economic costs of these events, and extrapolates for missing data to arrive at an estimate of the global costs of extreme weather attributable to climate change in the last twenty years.

The study finds that $143 billion per year of the costs of extreme events is attributable to climatic change. The majority (63%) of this is due to human loss of life in low and middle-income countries. The study also presents some results for the PRC, and its costs of extreme weather events that are attributable to climate change. The results suggest that the frequently cited estimates of the economic costs of climate change arrived at by using Integrated Assessment Models may be substantially underestimated.

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The Path to Healthy Aging in the PRC

The rapidly aging Chinese population is posing severe economic and societal challenges. To deal with these challenges, it is crucial the population ages healthily. Prof. Yaohui Zhao, National School of Development, Peking University will discuss major findings and policy recommendations from the recently released Peking University-Lancet Commission on “The Path to Healthy Aging in the PRC”. The commission reviewed evidence on health statuses and their determinants among older Chinese, current healthcare, and aged care policies in the PRC, and provided recommendations for future policy making.

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Industrial Upgrading in the PRC—What are the Lessons?

Loren Brandt, Noranda Chair Professor of International Trade and Economics, Department of Economics, University of Toronto, will share the lessons learned from the first three decades of industrial development and reform in the PRC. This seminar is jointly organized by the East Asia Department and the Economic Research and Regional Cooperation Department, ADB.

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Agriculture Insurance Services for Modern Agriculture Development

Climate change and resource scarcities are projected to increase the intensity and frequency of climate-related shocks, heighten the uncertainties in agriculture, and accentuate other risks. Developing risk management tools in agriculture are increasingly important in mitigating and diversifying the impact of short-term weather and market risks together with investment in capacity-building of food supply chains to absorb, adapt, and transform in response to long-term risks.

The People’s Republic of China’s (PRC) efforts toward modernizing the agriculture sector are challenged by pests and epidemics affecting livestock and crops, natural resource exhaustion, pollution, and climate change impacts. By building resilience— the ability to plan and prepare for, absorb, recover from, and adapt to adverse events—farmers are better placed to cope with risks and uncertainties, and even benefit from the new opportunities. Development of national crop insurance schemes is critical for expanding coverage, especially among vulnerable Asian farmers, and building their climate resilience. In the past two decades, agricultural insurance systems led by public–private insurance arrangements have evolved and expanded quickly in the Asia and Pacific region. The agriculture insurance market in the PRC also developed rapidly and became the second largest in the world, behind the US market. This evolution of agricultural insurance systems and the PRC’s present challenges offer important lessons for other developing countries.

The webinar will share the lessons learned from the development of agriculture insurance system in the PRC in the last two decades and discuss how the PRC can build more sustainable agriculture insurance system, which can respond to growing risk in agriculture sector.

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9:00 – 9:05Opening Remark
Shingo Kimura, Senior Natural Resources and Agriculture Specialist, ADB

9:05 – 9:25ADB Brief: Developing a Sustainable Agriculture Insurance System in the PRC
Rodolfo Wehrhahn, International Agriculture Risk Management Specialist, Wehrhahn and Wehrhahn Consulting
9:25 – 9:35Comments on the ADB Policy Brief
Arup Chatterjee, Principal Financial Sector Specialist, ADB
9:35 – 9:45Market Mechanism in Agricultural Insurance
Wanlong Lin, Professor, College of Economics and Management, China Agricultural University
9:45 – 9:55The New Demand of Agricultural Insurance under the Strategy of Rural Revitalization
Wenjun Long, Professor, Research Center for Rural Economy, Ministry of Agriculture
9:55 – 10:05Moral Hazard Measurement of Agricultural Insurance: Taking Pig Insurance as An Example
Yuehua Zhang, Professor, Department of Social Security and Risk Management, Zhejiang University
10:05 – 10:20Q&A and Discussion
10:20 – 10:30Closing Session
Shingo Kimura, Senior Natural Resources and Agriculture Specialist, ADB

CCUS Technology and Business Practice Trends

Atsumasa Sakai, Senior Energy Specialist, ADB and Neeraj Gupta, Technical Director for Carbon Management, Battelle Memorial Institute (BMI) will share insights on the growing carbon capture technology trends, such as, direct-air capture, and the frontline business practice to deploy carbon dioxide transmission/storage grid infrastructure in the US. ADB’s East Asia Department has supported the PRC’s carbon capture, utilization, and storage (CCUS) development since the past decade, and BMI is engaged in the ongoing CCUS plant feasibility study.

Building with Nature in the PRC: Integrated Fushougou Drainage System

Fushougou Drainage System

Xiaoyan Yang,  Senior Project Officer (Natural Resources and Environment), ADB, shared the ancient Chinese wisdom behind the Fushougou drainage system built over 900 years ago and is still in use today. The system adopts nature-based solutions and the sponge city concept in managing sewage, stormwater, and floods. Its indigenous and innovative design integrates grey and green infrastructures, fosters urban ecosystem, and improves micro-climate and people’s wellbeing.  

ADB-PRC Seminar Series, From the City to the Mountains: Sustainable Development Goal (SDG) Elements in Beijing 2022 Master Plan and Venue Techs

Zhang Li, Dean and Professor of Architecture, School of Architecture, Tsinghua University, will share how 2022 Beijing Winter Olympics have become a catalyst for long-term sustainable development in the greater Beijing area. SDG driven strategies in regional planning and venue design will be discussed. 

Mongolia’s and the PRC’s Economic Outlook

While the PRC saw a recovery in household consumption and solid export performance in the first half of 2021, uncertainties remain. Driven by increased commodity demand, the export-driven recovery in Mongolia continues despite ongoing COVID-19 related challenges. 

Dominik PeschelDeclan Magee and Bold Sandagdorj will discuss the countries’ latest economic trends and outlook. Participants will have the opportunity to ask questions following the presentations.   

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Decentralization, Local Governance and Local Economic Development in Mongolia

The webinar will feature an overview of Mongolia’s system of decentralized governance, followed by an empirical assessment of how these features translate into the actual and practical working environment for subnational governments. The session will provide opportunities to interact with practitioners and academic experts in the fields of public administration, public finance and economics.

How to Join

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3:00–3:10 pmOpening
 Chair: Emma Fan, Director, Public Management, Financial Sector, and Regional Cooperation Division (EAPF), East Asia Department (EARD), Asian Development Bank (ADB)
 Welcome Remarks
 Bruno Carrasco, Director General concurrently Chief Compliance Officer, Sustainable Development and Climate Change Department (SDCC), ADB
3:10–3:50 pmPresentation
 Hans van Rijn, Principal Public Management Specialist, EAPF, EARD, ADB
 Roger Shotton, Managing Director, Local Development Associates
3:50–4:05 pmDiscussants
4:05–4:25 pmSummary / Discussions
4:25–4:30 pmClosing Remarks
 Pavit Ramachandran, Country Director, Mongolia Resident Mission, EARD, ADB

8:45 – 9:00Opening
Yolanda Fernandez Lommen, Country Director, ADB PRC Resident Mission
9:00 – 9:10Welcome Remarks
M. Teresa Kho, Director General, East Asia Department (EARD), ADB
9:10 – 9:50Presentations
Hans van Rijn, Principal Public Management Specialist, Public Management, Financial Sector, and Regional Cooperation Division (EAPF), EARD, ADB
Ehtisham Ahmad, Professor, Grantham Research Institute, London School of Economics
9: 50 – 10:05Discussants
Emma Fan, Director, Public Management, Financial Sector, and Regional Cooperation Division, EARD, ADB
10:05 – 10:25Summary / Discussions
10: 25 – 10:30Closing

The PRC’s 14th Five-Year Plan (2021-2025) and the Long-Run Objectives to 2035

Yuchen Gu, Director, Department of Development Planning, National Development and Reform Commission (NDRC) of the PRC, will share key messages from the recently released 14th Five-Year Plan (FYP 2021-2025) for national economic and social development and the long-run objectives to 2035. Developed every five-year since 1953, the FYP is a major feature of the PRC’s governance system. It is a grand blueprint for economic and social development, a program of common action for all ethnic groups in the PRC, and an important basis for the government to perform its functions in economic regulation, market supervision, social governance, public services, and ecological and environmental protection.

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