Moving in the opposite direction from the rest of the world, Indonesia plans to lower its renewable energy ambitions by 2030. The new governing administration needs to make effort to ensure that even the reduced targets are met.
Non-populist policies pose risks for politicians. Prabowo Subianto, who has claimed victory in the Indonesian presidential elections, is looking at creating five million green jobs, but stops short of pledging to phase out fossil fuels subsidies.
The textiles and garments company, which supplies global brands such as Adidas, Uniqlo and The North Face, is only the second Indonesian firm to get its decarbonisation plan rubber-stamped by the Science Based Targets initiative.
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.
The Malaysian bank is the first to set decarbonisation targets for the sector, aiming to cut portfolio emissions intensity by 16 per cent by 2030. However, its commitment does not directly include smallholders, who are not within its existing base of clients.
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.
Demand for the new class of carbon credits proposed by Singapore's central bank will depend on the integrity of projects, what they can be used for and how effectively risks are addressed, say investors.
They say the two new units could cause thousands of premature deaths and are arguably unnecessary in the oversupplied local grid. However, the bank’s lending arm clarifies that it does not have the ability to stop the project’s development.
The Asian Development Bank, which partnered Indonesia to launch its first coal retirement deal last November, said that completing one of these transactions is key to providing others with a model to follow.
For some, environmental issues had felt like safe reporting territory a few years ago, but that is no longer the case. Journalists from India to Thailand share the constraints they face when reporting on powerful governments and corporations.