Asia and the Pacific have achieved rapid economic expansion in the recent years, and the region has become a major source of greenhouse gas (GHG) emissions. With more than half of the world’s population and high rates of economic growth, the region is especially vulnerable to the effects of climate change and therefore must play its part in cutting GHG emissions, according to the authors of this report. Seventeen emissions trading systems (ETS) are in place on four continents, and they account for nearly 40% of global gross domestic product.