Collaboration and alignment essential to bolster lasting development and combat polarizing international relations
In a significant move towards sustainable development, the "Unlocking Capital for Sustainability" conference was held in Kuala Lumpur on 28th July. The event, attended by over 240 decision-makers from government, finance, industry, and academia, focused on critical issues such as Carbon & Climate, Corporate Responsibility, Policy & Finance, and more.
The conference highlighted the importance of sustainable finance and accessible green energy as strategic enablers of investment and innovation. It also covered topics like geopolitics, transition finance, artificial intelligence, energy transition, and climate adaptation and resilience.
One of the key highlights was Malaysia's initiative to launch the ASEAN Common Carbon Framework. This unified, transparent, and efficient carbon market aims to facilitate accelerated sustainability efforts across the Association of Southeast Asian Nations (ASEAN). The framework supports corporate decarbonization and regional climate goals by enabling cross-border carbon trading and crediting.
Another crucial initiative discussed was the MARS Framework (Mitigation and Adaptation Reporting and Solutions). This toolkit helps identify and prioritize adaptation projects and financing options, aiding companies and funders in assessing adaptation technologies and directing investments effectively. Many adaptation projects lack direct financial returns and require blended finance approaches to attract capital.
The conference also marked the start of a series of events in the region. The summit is scheduled to travel to Manila on 28th August, Bangkok on 30th September, and Singapore on 21st October this year.
ASEAN member states can collaborate to fund sustainable infrastructure and meet the 2030 Sustainable Development Goals (SDGs) deadline through these initiatives and multi-stakeholder platforms like the Unlocking Capital for Sustainability conference. Other strategies include expanding green finance instruments, enhancing regional energy connectivity, promoting nature-based solutions, addressing financing gaps, and strengthening governance and investment confidence.
Together, these initiatives and collaborative mechanisms enable ASEAN countries to pool resources, standardize approaches, and create an enabling environment that accelerates sustainable infrastructure investment and advances progress toward the 2030 SDGs. The focus on blended finance, carbon market integration, and green financial products underpins this multi-faceted regional approach.
[1] ASEAN.org, 2021. ASEAN Common Carbon Market Framework [2] ASEAN.org, 2021. ASEAN MARS Framework [3] ASEAN.org, 2021. Unlocking Capital for Sustainability Conference [4] Asian Development Bank, 2019. Addressing Climate Change in Asia and the Pacific [5] ASEAN.org, 2021. ASEAN Power Grid
- The ASEAN Common Carbon Market Framework, a strategy to facilitate accelerated sustainability efforts across ASEAN, was highlighted at the Unlocking Capital for Sustainability conference.
- The MARS Framework, a toolkit for identifying and prioritizing adaptation projects, was discussed at the Unlocking Capital for Sustainability conference, alongside other climate change and sustainability topics.
- The conference emphasized the significance of sustainable finance and accessible green energy as strategic enablers of investment and innovation, aligning with the objectives of the 2030 Sustainable Development Goals (SDGs).
- The ASEAN Common Carbon Market Framework, designed to enable cross-border carbon trading and crediting, aims to support corporate decarbonization and regional climate goals.
- Transition finance, artificial intelligence, energy transition, and climate adaptation and resilience were among the critical issues covered at the Unlocking Capital for Sustainability conference.
- In order to meet the 2030 SDGs deadline, ASEAN member states can collaborate to fund sustainable infrastructure by using initiatives like the Unlocking Capital for Sustainability conference and other multi-stakeholder platforms.
- At the conference, collaboration between ASEAN countries was emphasized as a means to pool resources, standardize approaches, and create an enabling environment for sustainable infrastructure investment.
- The Unlocking Capital for Sustainability conference marked a series of regional events, set to travel to Manila, Bangkok, and Singapore this year, fostering discussions on Climate Adaptation, Policy & Finance, Sustainability, and Corporate Responsibility.
- The ASEAN MARS Framework, a resource for assessing adaptation technologies and directing investments effectively, can help companies and funding bodies address the challenge of lacking direct financial returns for adaptation projects.
- In Asia and the Pacific, addressing Climate Change requires comprehensive strategies that involve not only the private sector, academia, and government, but also policies, finance, renewable energy, biodiversity, climate-change, and environmental-science, as articulated in reports like the Asian Development Bank's "Addressing Climate Change in Asia and the Pacific."
