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The loan will finance projects that support sustainable management of the archipelago's marine ecosystems.
The bloc, whose energy demand is expected to nearly double by 2040, has been pursuing power grid integration since 1997 but technical and financial barriers have hampered progress. A new financing pact aims to change this.
Civil society organisations say they have been left out of proper consultations. The multilateral argues it has met with NGOs “several times” to consult on policy amendments for investments in critical minerals and curbing methane leakage.
A lot of climate fatigue is caused by expectation build-up and unrealised promises by the Global North. But as a growing bloc, Asean can work within its means and take a stronger leadership role, said Dr Mohd Faiz Abdullah, who helms a think tank which advises the Malaysia government.
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