Sustainability
ADB announces start of Climate Action Catalyst Fund
The Asian Development Bank (ADB) has on last Friday announced that it will start on January 1, 2024 operations of its Climate Action Catalyst Fund (CACF) — a first-of-its-kind carbon fund under the Paris Agreement. The fund aims to mobilize innovative carbon finance through the purchase of carbon credits to catalyze investments in transformative mitigation…
JICA to provide up to $1.5B for ADB-managed LEAP 2 Fund to support infrastructure in Asia and the Pacific
The Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) have signed an agreement to establish the Leading Asia's Private Infrastructure Fund 2 (LEAP 2) with capital of up to $1.5 billion provided by JICA. The fund aims to co-finance high-quality, resilient, and sustainable infrastructure projects in Asia and the Pacific.
ADB lends $400M to support climate priorities in Bangladesh
The Asian Development Bank (ADB) has on Friday approved a $400 million policy-based loan to support the government of Bangladesh in implementing its National Adaptation Plan, 2023–2050 and Nationally Determined Contributions 2021 Update to the Paris Agreement to achieve a climate-focused inclusive development.
MAS publishes code of conduct for providers of ESG rating and data products
The Monetary Authority of Singapore (MAS) has on Wednesday published its finalized code of conduct for environmental, social, and governance (ESG) rating and data product providers (CoC) and an accompanying checklist for providers to self-attest their compliance to the CoC.
WWF, BCG, and Think City launch regional initiative for nature-based solutions, climate analytics and AI
The World Wide Fund for Nature (WWF), Boston Consulting Group (BCG), and Think City, have announced the launch of the Report and the Southeast Asia Climate Adaptation and Resilience (SEACAR) Alliance. SEACAR Alliance is a regional initiative that aims to emphasize the importance of nature-based solutions (NbS), climate analytics and artificial intelligence…
ADB approves $659M in financing to support Pakistan’s sustainable development
The Asian Development Bank (ADB) has approved three projects totaling $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development. The projects will focus on improving domestic resource mobilization; rehabilitating schools damaged by the devastating August 2022 floods; and enhancing agricultural productivity to…
Malaysia’s TNB unveils vision for sustainable energy future and collaboration
Malaysia's utility firm Tenaga Nasional Berhad (TNB) said Wednesday that it has solidified its pledge to spearhead Malaysia's energy transition by championing transformative renewable energy projects.
UK-IFC’s MAGC receives $45M in funding expansion to support green construction practices in emerging economies
The United Kingdom Government has announced an expansion of funding for climate projects, including the UK-IFC Market Accelerator for Green Construction (MAGC) Program, to significantly elevate green construction practices in over 20 emerging and developing economies. This expansion will provide an additional £36 million ($45.15 million) to the program.
MAS launches coalition; announces pilots to develop transition credits for early retirement of Asia’s coal plants
The Monetary Authority of Singapore (MAS) has on Tuesday announced the launch of the Transition Credits Coalition (TRACTION) and two pilot projects to test the use of high-integrity transition credits in transactions for the early retirement of coal-fired power plants (CFPPs).
Malaysia launches Sustainable Energy Development prospectus paper to advance energy transition
Malaysia has launched the Sustainable Energy Development prospectus in an effort to showcase Malaysia’s strategic intent in “Advancing Just Energy Transition” at the 28th Conference of the Parties to the UNFCC (COP28) at Dubai Expo City, emphasizing its commitment to climate action on a global stage.
