While it has been widely recognized that climate change will lead to an increased incidence of natural disasters in the course of this century, an international consensus on the reduction of emissions of greenhouse gases responsible for climate change has proved elusive so far. This is a key concern as such disasters severely disrupt trade and investment, which are wide acknowledged to be the engines of growth and development. This paper, while recognizing the costs associated with climate change mitigation and adaptation efforts, argues that trade and investment in climate-smart goods, technologies and services are also part of the solution and can contribute to a triple win solution where trade and development, climate and disaster risk reduction all benefit. The paper identifies opportunities to promote trade and investment in those goods and services in the region and briefly presents a policy framework to capture those opportunities. The paper makes a strong case for regional cooperation and suggests a regional partnership or agreement on the mitigation of and adaptation to climate change including a regional trade and investment agreement in this area. The paper proposes that ESCAP could take the lead in such initiative.