Asia-Pacific Climate Digest Issue #12: Week 1, June 2021

Compiled by Purnima Joshi


This week on 5th June we celebrate World Environment Day with the launch of the UN Decade on Ecosystem Restoration, in keeping with this year's theme.

In this week’s issue we have articles mainly on the banking, finance and Insurance sectors - the need for standardisation in climate related disclosures by companies, what will drive green finance, measuring and pricing risk for people and businesses, and investment opportunities in infrastructure upgrade to meet net zero targets.

Happy reading!



FOSSIL FUELS


Big Oil’s Green-Spending Boost Isn’t Enough, IEA Says

Bloomberg, 2 June 2021

The oil and gas industry is set to boost investments in clean energy this year, but that still won’t be enough to put the world on a path to limit a dangerous rise in global temperatures.


Read more...



China's crypto mining crackdown followed deadly coal accidents

The Straits Times, 26 May 2021

China's escalating push to rein in cryptocurrency mining was triggered in part by concern that the practice has stoked a surge in illicit coal extraction, endangering lives and undermining Xi Jinping's ambitious environmental goals.


Read more...


FINANCE


Experts seek standardized rules for climate-related disclosures by companies

S&P Global, 30 May 2021

Countries in Asia-Pacific should adopt standardized rules on climate-related financial disclosures by companies, as sustainability is increasingly becoming an important consideration in investment decisions, said industry leaders at an event organized by S&P Global.

Read more...



Shareholder engagement key driver for Asia’s green finance growth: experts

The Korea Herald, 1 June 2021

Shareholder engagement in the form of behind-the-curtain dialogues or proxy voting, as well as engagement with asset owner clients, should be a key for asset managers to sustain the concept of green finance in Asia, investment professionals said Monday.


Read more...



HSBC Hires Team for Climate Venture Investments

Finews Asia, 3 June 2021

The move is part of HSBC Asset Management's strategy to expand direct investment capabilities in alternatives.


Read more...



IAIS Offers Supervisory Guidance on Climate Risk in Insurance Sector

Regulation Asia, 26 May 2021

The IAIS (International Association of Insurance Supervisors) has published a new paper providing recommendations for insurance supervisors to strengthen efforts to address climate-related risks.

Read more...



PHL banks most exposed to climate risk in APAC — Moody’s

Business World, 28 May 2021

Philippine banks are the most exposed to physical climate risk in the Asia-Pacific region, according to Moody’s Investors Service, which noted the impact could affect asset quality.


Read more...




PODCASTS


https://www.channelnewsasia.com/news/podcasts/the-climate-conversations/climate-change-insurance-physical-transitional-risks-14901444

Insurance in a world of climate change: Measuring and pricing risk for businesses and people

Channel News Asia, 28 May 2021

Listen to the podcast here...



HSBC, WRI, WWF Partner to Scale Next-Generation Climate Solutions

sustainablebrands.com, 26 May 2021

The US$100M initiative builds on the organizations’ individual efforts to accelerate a shift to a net-zero global economy

Details here ...



ASEAN


Climate change raises asset risks for banks in Asia-Pacific

Thailand Business News, 28 May 2021

Climate change and related government policies raise asset risks for banks in Asia-Pacific, while legal and reputational risks are growing while large, diversified banks in the region are better able to cope with these risks and preserve their credit strength

Read more ...



PM Lee details Singapore's green plan

The Straits Times, 25 May 2021

As a small country, Singapore's impact on the global climate is limited, but the Republic will do its part wherever it can and support others too, Prime Minister Lee Hsien Loong said yesterday.


Read more ...




Net-zero pledges open up infrastructure investment opportunity

Asian Investor, 25 May 2021

Companies and institutional investors are set to see greater investment opportunities as infrastructure upgrades gather pace ahead of global pledges to meet net-zero emissions by 2050, according to an array of industry experts.


Read more ...



India, already leading Asia, can gain from ‘Green patents’ to dodge Climate threats and Unemployment

The Indian Wire, 28 May 2021

India stands vulnerable to almost all the threats from Climate change, even the giant water trail that India tries to avert each warm season.


Read more ...



ADDITIONAL READS



15 years on, mud continues to gush in East Java villages as residents reel from odour and heat

Details here ...






How climate change is affecting the taste and structure of the wines you drink


Details here...






Global economic recovery needs green focus: South Korea summit


Details here...





Pakistan's Rawalpindi faces acute water shortage amid rising temperatures



Details here...




Asia-Pacific airports recognised for air quality improvements


Details here...




“Australia’s Greta Thunberg” steps up climate change activism


Details here...





‘Cyclones, pandemic present cascading risk scenario’


Details here...




Climate change could push temperatures at the Tokyo Olympics to the 'danger-zone' for athletes, report warns


Details here...



Time to upgrade corporate governance in Vietnam


Details here...



Worsening Climate Change and the P4G Seoul Summit



Details here ...


CGM's Asia-Pacific Climate Digest is compiled by communications consultant Purnima Joshi.

With over two decades of experience in corporate communications, Purnima combines her skills in creative and communication along with her passion for working for the community.