Lasting is correctly identified as an adjective because it describes a quality - enduring or continuing for a long time (e.g., 'lasting impact', 'lasting peace'). Adjectives modify nouns by describing their characteristics. The -ing form here functions as an adjective, not as a present participle verb. Lasting cannot function as a naming word (noun), action word (verb), manner word (adverb), or relationship word (preposition) in this context.