Key Points

• Mobilising Investment for Achieving Carbon Neutrality in ASEAN: Climate finance in ASEAN is growing tremendously in both public and private sectors. For instance, development banks such as ADB have expressed interest in facilitating climate finance in Asia-Pacific countries.
• Climate Financing towards Renewable Future: AMS is securing financial assistance to accelerate renewable projects aligned with the nation’s transition to cleaner fuels. For instance, Thailand, Indonesia and Vietnam received green loans for renewable energy projects from the International Finance Corporation (IFC)
• International and Regional Collaboration for Climate Action: Member states are partnering with developed countries through a bilateral agreement to reduce GHG emissions through climate actions
• National Carbon Pricing Policy: ASEAN Member States are implementing a carbon policy. Singapore is expanding the carbon market through government regulations and corporate sustainability commitments. Other Member States are also exploring similar initiatives to establish carbon pricing mechanisms and incentivize emission reductions.