In a bid to close the US$1.3 trillion climate finance gap without adding to global debt burden, governments from Asia, Africa and Europe are joining forces to issue shared guardrails for the corporate use of offsets by COP30.
The country’s taxonomy aims to be a blueprint for other major mining economies, like Chile, Indonesia, Canada and South Africa. The European Union is also in the midst of developing thresholds for what counts as a “green” mining project.
EB Studio
The 'North Star' for Asia's financial institutions to support decarbonisation is clear and unchanged, despite geopolitical uncertainties and global lenders quitting the industry's biggest climate alliance, said UOB's head of sustainable business.
In this wide-ranging fireside chat moderated by Eco-Business CEO Jessica Cheam, AIA Group's chief investment officer Dr Mark Konyn asserts there is “no U-turn” among corporates invested for the long term, even as political regimes change amid a new world order.
There is consensus that coal needs to be retired early in Asia, but the mechanisms for financing the phase-out are not clear. This mini-documentary examines how transition credits work and whether they can fund Southeast Asia's equitable switch to clean power.
Trump 2.0 may prove to be a "bump in the road" for climate action, but banks and investors in Asia see growth and opportunity in the region for decarbonisation as climate risks grow.