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Finalising ambitious climate targets, being self-reliant for climate funding and striving to uphold human rights aspects of critical minerals are ways the new Asean chair can steer the region to meet low carbon ambitions, amid geopolitical upheaval.
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.
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