All over the world, there are efforts to mobilize private capital to help countries transition to net zero. Southeast Asia is no exception. So-called transition finance is needed to shift to renewable energy and retire coal-fired power plants, particularly in Southeast Asia which has high energy demand to sustain its economic growth while also having some of the youngest coal plants across the globe.
This session, "Opportunities for Transitions and Decarbonization Pathways in Southeast Asia," at the Asian Development Bank's (ADB) fourth Southeast Asia Development Symposium (SEADS) examined the challenges the region is facing in mobilizing private capital amid worsening climate impacts. The panel also explored initiatives helping countries like Indonesia advance its net-zero ambition.
Speakers
- Scene Setter: Tomohiro Ishikawa, Managing Director, Head of Government and Regulatory Affairs Office, Mitsubishi UFJ Financial Group
- Yuki Yasui, Managing Director, Asia–Pacific Network, Glasgow Financial Alliance for Net Zero
- Nazmeera Moola, Chief Sustainability Officer, Ninety One
- Lazeena Rahman, Senior Climate Finance Specialist, ADB
- Hiroshi Takashima, Advisor on Sustainability and Financial Regulation, Norinchukin Bank
- Edo Mahendra, Special Advisor to the Coordinating Minister of Maritime and Investment Affairs, Indonesia
- Moderator: Sean Kidney, CEO, Climate Bonds Initiative
The session was co-organized with ADB's ASEAN Catalytic Green Finance Facility and Climate Bonds Initiative.
With the theme, "Imagining a Net-Zero ASEAN," SEADS 2023 explored measures governments, communities, and the private sector could take to progress toward carbon neutrality.
