Can Asia unlock the capital needed to tackle climate change?

(Eco Business, 24 Jan 2019) With about a decade to dramatically cut emissions, can Asia mobilise the capital needed to avoid the worst effects of climate change? The Unlocking Capital for Sustainability event in Singapore shone a light on the path to decarbonisation.

Can Asia unleash the capital needed to avoid dangerous climate change?

That was the main topic of discussion at the Unlocking Capital for Sustainability event in Singapore on Tuesday, which was held four months after a report from the Intergovernmental Panel on Climate Change warned that the world has about a decade to dramatically reduce carbon emissions or face the most dire consequences of global warming.

According to a report by DBS Bank and UN Environment on Green Finance Opportunities in the Association of Southeast Asian Nations (Asean), an estimated US$200 billion of green investment is needed annually from 2016 to 2030 in this region alone to tackle climate change.

“Climate change is no longer a distant threat on the horizon, but one that is near and present,” said Masagos Zulkifli, Singapore’s Minister for the Environment and Water Resources, in the opening address at the event organised by Eco-Business and UN Environment. “It is a long-term issue that will require the commitment of governments, investors, businesses and consumers.”

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Eco Business, 24 Jan 2019: Can Asia unlock the capital needed to tackle climate change?