Senior finance and central bank officials from Southeast Asia met on 4 April in the Lao city of Luang Prabang to discuss ways to help the region build resilience against shocks like natural disasters brought on by climate change.
Meanwhile, Luang Prabang and the surrounding region were engulfed in heavy smoke from fires, some set to clear forests for crops, some ignited by record-high temperatures and tinder-dry conditions. The air quality index climbed to nearly 300, or “very unhealthy.”
Southeast Asian countries have committed to seeking more sustainable ways to feed their people and power their economies. The question is where the money will come from to do that.
Green finance is among several items on the agenda of the finance meetings of the Association of Southeast Asian Nations related to countering the mounting impacts of global warming.
Also on the list of urgent measures is refining a “taxonomy” to help identify and agree on projects that support ASEAN’s sustainability agenda and align with its climate change commitments.
The 10 member nations of ASEAN range from tiny but wealthy Brunei and Singapore to big, fast-growing economies like Vietnam and Indonesia. They have pledged to cut carbon emissions to help reduce the impact of climate change. At the same time, they are struggling to find ways to unlock the financing needed to make that transition.
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