Key Highlights

• The Philippines ASEAN’s 2026 Chairship steers regional climate action and dialogue, spearheading preparations ahead of COP31: The Philippines convened the ASEAN Climate Week in Taguig City from 27 April to 1 May and is now leading the drafting of a joint ASEAN statement ahead of COP31 in Turkey. The statement will reflect the region’s shared priorities on National Determined Contributions (NDCs), adaptation plans, loss and damage, and climate financing. At UNFCCC SB64, stronger climate commitments and scaled-up public climate finance are advocated, including mainstreaming gender dialogues under the Belém Gender Action Plan.
• New climate finance mechanisms and investments gain momentum across the region: Cambodia launched the Cambodian Sustainable Finance Initiative alongside a USD 3 million Wing Bank commitment and fresh Asian Development Bank support, while Malaysia rolled out a RM100 million Climate Mitigation Fund and saw Navis Capital raise USD 300 million for its Decarbonisation Fund I. Singapore’s FAST-P blended finance platform reached USD 800 million in committed capital, and Thailand’s major banks continued to scale up green and sustainable lending.
• Brunei Darussalam moves to formally establish the ASEAN Centre for Climate Change: Brunei signed the Instrument of Ratification to establish the ASEAN Centre for Climate Change — hosted in the country and backed by an initial USD 1.5 million for its first three years of operation. The Centre is designed to strengthen regional cooperation on both emissions reduction and climate adaptation and will enter into force once six ASEAN Member States ratify the agreement to the ASEAN Secretariat.
• Regional and international climate collaboration deepen: ASEAN and the European Union held a joint workshop on carbon pricing and carbon markets in Brunei ahead of their 50th partnership anniversary, while the Philippines advanced green economy and sustainability-transparency partnerships with the EU and Japan. Indonesia launched an ASEAN-Korea methane mitigation project, and Viet Nam partnered with Korea and GGGI to mobilise climate-tech investment, among other initiatives.
• ASEAN Member States advance new Climate Change Laws, carbon policy frameworks, and NDC 3.0: Timor-Leste published its NDC 3.0 that embeds Just Transition and Loss and Damage provisions, Indonesia is drafting a Climate Change Law and a Climate Justice Law to protect vulnerable groups and ensure equitable carbon trading benefits, while Thailand’s draft Climate Change Act completed its first reading, introducing net-zero targets and a dedicated Climate Fund. Furthermore, Malaysia launched its National Carbon Market Policy, Cambodia advanced Article 6 carbon trading rules.