Countries in the region must improve education, healthcare, energy transformation, agriculture, urban infrastructure and digital platforms to achieve sustainability, according to a US expert.
"Asean countries are already in a better position. Not only because you are in one of the fastest-growing regions in the world, but you are also equipped with clean energy sources and have the know-how, technology and human capacity to achieve sustainability," Jeffrey D Sachs, a professor at Columbia University and director of the UN Sustainable Development Solution Network, told a convention in Bangkok.
However, a detailed plan of what needs to be done must be constructed first, he said. It should begin with investing in quality education. "A well-educated younger generation would become a resource for quality manpower which would attract foreign investors," he said.
Countries should also focus on improving their healthcare system because physical and mental wellbeing are crucial to productivity, he said. Asean nations need to invest in energy transformation, he said.
Using clean energy and gearing towards a zero-carbon economy are needed, especially with the increasing severity of global warming, natural disasters and food shortages. "Then, you have to invest in sustainable agriculture as the current agricultural industry is facing challenges from intensified water cycles, climate pressure and new pests," he said.
He said countries must have a new agricultural strategy that is sustainable and also capital-intensive, technology-intensive and information-intensive. He also noted the importance of investing in urban infrastructure, such as public transport, social housing and green areas.
Lastly, digital platforms and transformation are needed because they are powerful tools which countries need at their disposal. When the plans are in place, a list of agencies responsible, sources of investment and a project timeline will also need to be crafted.
"My advice is do not just do this with Thailand but do it with Asean. You can even do it with the Regional Comprehensive Economic Partnership countries because all of the Asia Pacific will benefit tremendously.
"It is necessary to change the mindset that there are no natural enemies in this world. The US is no longer a hegemony and China is not the new world hegemony.
"We have passed the hegemonic period already. We need cool heads. If we cooperate, we will be able to build the future we want," he added.
Sachs: Cool heads needed