From supply chain decarbonisation to evolving trade regulations, here are a few of the things that got under the skin of Asia's corporate sustainability leaders in a year that geopolitics complicated climate ambition in the boardroom.
Ravi Menon, who heads the Monetary Authority of Singapore (MAS), says that an appropriate carbon price will render blended finance and carbon credits to lower the cost of capital for energy transition projects in emerging markets unnecessary. He was speaking at the COP28 summit.
Using the novel class of carbon credits, the Monetary Authority of Singapore aims to retire one of the facilities a decade earlier. The pilots will inform the work of a coalition that will be creating a standardised approach to accelerate Asia's coal phase-out.
To support Southeast Asia's efforts to retire its young coal fleets, there must be "explicit conversations" about the conditions needed for energy transition projects to come to market, the chairperson of the global reinsurance giant's public sector engagement arm told Eco-Business.
The sustainable development goal financing gap has widened significantly in many developing countries in the region. Coordinated multi-stakeholder regional partnerships and cooperation are needed to mobilise new resources.
Global philanthropy is not putting its muscle behind addressing the dual climate and nature crises, but it holds the key to unlocking the pace and scale required for action on climate and nature in this decisive decade.
Neo Gim Huay, Anthony Robert Hobley, Rob van Riet and Luis Alvarado
While some believe that economic growth is incompatible with fighting climate change, only growing economies can produce the financial resources needed to make the transition to a net-zero economy. Accelerating global growth could bring lower-income households into the middle class and build infrastructure to reduce emissions.
Kevin Russell, Anu Madgavkar dan Sven Smit
A stronger partnership between the private and public sectors can unlock new investment opportunities, manage risk, reduce the cost of capital, and mobilise the necessary financing at a much larger scale.
Eminent speakers and thousands of attendees discussed strategies for a resource-efficient future at Ecosperity Week 2019. As they heard about the science of global warming, delegates were called upon to be part of the solution.