Green transition: Pay the Least, Benefit the Most

Workers are patrolling in a wind power plant on Tan Thanh beach, Go Cong city of Viet Nam. Countries in Asia and the Pacific are moving towards green transitions in the wake of higher oil prices. Credit: Unsplash/Thompson LeOpinion by Michal Podolski (bangkok, thailand)Wednesday, August 05, 2026Inter Press ServiceMichał Podolski is Associate Economic Affairs Officer, ESCAP BANGKOK, Thailand, August 5 (IPS) - Inaction and maintaining the status quo of fossil fuel dependence carry significant costs. The recent closure of the Strait of Hormuz, for instance, caused enormous losses to the global economy, with many Asia-Pacific countries bearing disproportionately larger adverse impacts. Had these economies had a more diversified energy mix, they would have benefited from such resilience under current circumstances. Green transition, however, comes at a significant cost – investment in environmental sustainability. This investment brings tangible returns and benefits, such as cleaner air, better health, a vibrant natural environment or reduced negative climate impacts. What is the overall balance of these costs and benefits, opportunities seized or lost, innovation, or status quo mainten...