The Role of Green Finance in Delivering Southeast Asia’s Sustainability Goals
Asia House, in partnership with Standard Chartered, is convening leading figures from across business and policymaking to consider how governments and financial institutions should work together to recover from COVID-19 and set the foundations for a green and sustainable future.
Join Sri Mulyani Indrawati, Indonesia’s Minister of Finance; Bill Winters, Group Chief Executive of Standard Chartered, and Ingrid van Wees, Asian Development Bank’s Vice President for Finance and Risk Management, in a discussion that will explore the role of government policy, corporate action and sustainable finance in accelerating sustainability goals across Southeast Asia – a part of the world particularly vulnerable to climate change.
THURSDAY 30 SEPTEMBER
09:00-10:00 UK TIME (VIA ZOOM)
With governments and businesses under pressure to set ambitious net-zero targets in the run up to this year’s UN Climate Conference (COP26), countries have the opportunity to ‘build back better’ even as some still struggle with the effects of the COVID-19 pandemic.
While many countries across Southeast Asia faces major climate risks, as well as challenges in reducing their carbon footprints, the region also offers great potential for establishing itself as a destination for renewable energy and nature-based solutions that preserve nature, reduce emissions and contribute to creating new sectors and jobs.
Governments are taking action. Several countries across Asia have set net zero targets, including China, one of the world’s largest emitters of greenhouse gases. Indonesia and Vietnam have committed to launching emissions trading schemes. Malaysia is developing a principal-based climate taxonomy and ASEAN central banks have collectively committed to tackling climate risks.
However, the financing needed to transition many economies to net zero across Asia continues to fall short. Southeast Asia will need an additional green investment of US$3 trillion between 2016-2030, especially in infrastructure, renewable energy, agriculture and land use.
Furthermore, as developed economies accelerate their path to net-zero and large companies move to reduce carbon emissions in their supply chains, businesses across Southeast Asia that form key parts of those supply chains will be affected if no action is taken. Standard Chartered’s ‘Carbon Dated’ report revealed that 78 per cent of multinationals will remove suppliers that endanger their carbon transition plans by 2025.
Against this complex backdrop, Asia House and Standard Chartered will bring together leading figures to discuss the role of sustainable finance, including carbon markets, in making a positive contribution to Asia’s and ASEAN’s path to net zero. Moderated by Asia House Chief Executive Michael Lawrence, the discussion will see Bill Winters, Group Chief Executive of Standard Chartered, Sri Mulyani Indrawati, Indonesia’s Minister of Finance, and Ingrid van Wees, Asian Development Bank’s Vice President for Finance and Risk Management, consider how to unlock the flow of sustainable finance to the region and the best ways for governments and the private sector to collaborate to achieve credible climate goals.
This roundtable is part of the Asia House COP26 Programme – a series of events, briefings and research activity exploring the business and policy response to climate change ahead of the November summit in Glasgow.
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