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Home » Green finance will help put the brakes on climate change, but Asian companies risk missing out

Green finance will help put the brakes on climate change, but Asian companies risk missing out

Green finance will help put the brakes on climate change, but Asian companies risk missing out

More money is flowing into green, sustainable finance. But Asian companies are behind the curve in terms of receiving it, according to a panel during the CNA Leadership summit. Better governance is needed.

Courting private investment will be key to plugging the finance gap to fulfil the need for climate resilient infrastructure in Asia. But Asia is not taking climate risks into sufficient account, according to a panel of experts speaking at the CNA Leadership Summit on Thursday (22 April) in Singapore.

Asia is on the front line of climate change with six of the ten largest economic loss events in 2019 caused by extreme precipitation, according to insurance provider Aon. Asia Pacific needs USD$1.7 trillion annually for infrastructure, Bambang Susantono, vice president, knowledge management and sustainable development at the Asian Development Bank (ADB) told the panel.

Increasingly, asset owners and managers are placing emphasis on environmental, social and governance considerations in their investment agendas. They are generally looking at how the businesses they invest in are going to insulate themselves against risks, such as excess carbon emissions. Furthermore, they want greater ESG disclosures.

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