ESG | GREEN FINANCE
I
f you think sustainable finance is winning the war on climate change in the Asia-Pacific region , it ’ s time to think again .
That ’ s according to a new report from the United Nations Economic and Social Commission for Asia and the Pacific ( ESCAP ), which has examined the trends , challenges and opportunities around bankrolling for key Sustainable Development Goals ( SDGs ).
Sustainable Finance : Bridging the Gap in Asia and the Pacific pulls no punches when it comes to assessing the progress , or lack of it , when it comes to tackling the main causes of climate change in this pivotal region .
“ It has been said that the battle for climate change will be won or lost in Asia and the Pacific ,” says Subathirai Sivakumaran , Chief of Financing for Development Section , UN ESCAP .
“ This also means that global achievement of the SDGs by 2030 , whether it is Goal 13 on climate change , or other SDGs on energy , food and poverty will depend on achievement of the SDGs in Asia and the Pacific , home to 60 % of the world ’ s population .
“ The issue of ensuring that enough sustainable finance for SDGs and climate action is mobilised in Asia and the Pacific has massive implications for the world .”
From a business opportunity perspective , sustainable or green finance is also going to play a key role in capital markets . PwC says that green finance will be a US $ 22 trillion market globally by 2030 . businesschief . asia 101