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COP29 Azerbaijan Countdown begins! ⌛ In the spirit of Malaysia's chairmanship of ASEAN in 2025, I am honoured to moderate this panel discussion on financing carbon projects in the ASEAN region. You probably already know that the ASEAN region houses 3 out of world’s 17 mega-biodiverse 🌱🐛 countries, Indonesia, Malaysia and Philippines. In order to protect biodiversity and support the energy transition, nature-based and technology-based carbon credits can assist the ASEAN region as instruments to attract funding to commercialize decarbonisation projects. You probably also know that achieving Net Zero continues to require the mobilisation of large amounts of capital to achieve meaningful emissions reductions and removals. Financing carbon projects at the rate we need continues to be challenging. This panel discussion explores the current landscape of carbon project financing, addresses how projects can sustain development costs and how developers are currently raising funds. The panel will also explore innovative financing instruments underpinned by the principle of responsible financing that can meaningfully scale up deployment of carbon projects within the ASEAN region. We welcome you to join us as we love to hear your views as well. See you soon and here are the logistic details: What: The Buck Stops Here: Unlocking Responsible Financing for ASEAN Carbon Projects When: 16 November 2024, @ 1:00 am - 12 noon (GMT+4) Where: Malaysia Pavilion, E11, Blue Zone Who: ●     Björn Fondén, International Policy Advisor, IETA ●     Mark Kenber, Executive Director, Voluntary Carbon Markets Integrity Initiative ●     Edward Rumsey, Managing Partner, Permian Global ●     Asif Cheema, Director of Private Sector Financial Institutions, Asian Development Bank, Asian Development Bank (ADB) ●     Arshad Nuval Othman, Head of Sustainable Finance, CIMB Islamic Bank https://lnkd.in/gWa_pwV6

DIFC has announced its Decarbonisation Strategy, committing to achieve Net Zero by 2045. This initiative positions DIFC as a vital contributor to the #UAE Net Zero 2050 initiative. The strategy focuses on reducing emissions from operations, #construction, and supply chains under DIFC’s direct control, aiming to set a global benchmark for financial centres. Read more here: https://lnkd.in/dYYmFw5q Future Sustainability Forum COP28 UAE COP29 Azerbaijan #COP28 #decarbonisation #DIFC #dubai #sustainability

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In 2023, clean energy alone contributed 10 percent of global growth, and from now until 2050, about US$126 trillion of additional capital expenditure will be needed to reduce the carbon dioxide emissions from electricity generation, transport, buildings and industry. These are rich, long-term investment opportunities, says GIC. GIC further iterates that sustainability is crucial for companies to attain long-term success, and firms transitioning to greener and more sustainable business models hold the greatest potential for promising returns.

🌍 COP29, where ABB proudly served as the principal banking partner, has successfully finished in #Azerbaijan. We have only one home—Earth—and focus on sustainable development must remain the central theme of our future. Financial institutions hold a critical role in accelerating the green transition. Here are three key ways they can contribute: 1. Green Financing Supporting renewable energy projects, energy-efficient infrastructure, and sustainable business practices through tailored financing solutions. 2. Responsible Investment Incorporating environmental, social, and governance (ESG) criteria into investment decisions to drive capital towards sustainable ventures. 3. Customer Engagement Promoting awareness and incentivizing green practices among customers through eco-friendly products, rewards, and educational initiatives. #sustainability #greengrowth #COP29 #climate #ginance #banking #ABB #impact

Hello, sustainability champions! 🌍 As we eagerly await the next edition of the Gulf Sustainability Awards, we’re excited to share content we know you’ll love. Check out a thought-provoking blog by Nadine Zidani, CEO of MENA Impact | B Corp™, titled "Redefining Success: How Impact Drives the Future of Business.” The MENA region is taking bold steps toward sustainability with ambitious goals like achieving net zero in the coming decades. However, progress is slower than hoped. A recent World Economic Forum report highlights the challenges many MENA businesses face, from awareness gaps and capability shortages to financial hurdles—especially regarding effective sustainability reporting. Discover how businesses can navigate these challenges and redefine success for a sustainable future. 🔗 Read the blog via the link in the first comment! #gsa25 #sustainability #mena #netzero #blog

COP29 - Investing in a Green Tomorrow through Energy Transition 🌍 At COP29, the Indonesia Pavilion spotlighted a pivotal insight: While investor attention on green enterprises is growing, there’s a stark gap in funding for those at the very beginning of their green transition. This imbalance raises critical questions. Should capital allocation extend to enterprises taking their initial steps toward sustainability? Could such support accelerate more inclusive and widespread impact? The event hosted esteemed speakers like Dharsono Hartono, Vice Chairman of Environment at Kadin, and Elim Sritaba, Chief Sustainability Officer at APP Group, who underscored the urgency of mobilizing both financial and operational support to broaden the impact of our climate initiatives. A sustainable future relies on collaborative action and smart investment—will the financing landscape evolve to support the full journey of transition? We’d love to hear your thoughts! ✨ How can we better support early-stage green initiatives What barriers do you see in aligning investments with sustainability goals? How can both investors and enterprises collaborate more effectively to drive long-term impact? Share your insights in the comments below! #COP29 #EnergyTransition #Sustainability #GreenInvestments #ClimateAction #IndonesiaPavilion #Fairatmos #HighIntegrityProject #ClimateFinancing

Having been in Malaysia for almost a year now, I have closely followed and read initiatives by the Malaysian Government towards sustainability initiatives. The last budget presented by the respected PM of Malaysia had a significant focus on achieving energy independence and focusing on achieving the UN Development goals. The report built as a collaborative article by Vishal Agarwal, Vaibhav Dua, Enrico Furnari, Darshit Mehta, and Sunalini Sinha from McKinsey highlights several of these initiatives and is a good summary of what the future holds. Interestingly the reports talk about Hydrogen fuel as an emerging opportunity for the country, which is a conversation I was having with the CEO of one of our partners at dinner last week of how they are trying to develop hydrogen fuel as a business. Already more than 60 countries, accounting for almost 90 percent of global emissions, have net-zero commitments in place by 2050 or later.1 According to the McKinsey report, accelerating toward net zero: The green business building opportunity, more than $9 trillion of global annual investments are required to achieve the goal, which could create more than $12 trillion of global annual revenues. Asia is expected to play a major role in the transition, given its high share of global emissions and strongly growing economies—over 40 percent of those revenues will likely come from the region.2 There is already strong momentum in the region, as seen at the COP27 summit in Egypt in 2022 when G20 countries pledged a large climate finance deal ($20 billion) to Indonesian coal power shutdowns by 2030, with similar agreements in the pipeline for India and Vietnam. We at #Signify are collaborating on several of the sustainability initiatives with the Utilities and Majlis in Malaysia and are proud to be part of Malaysia's journey towards sustainability. #WeAreSignify #Sustainability #Malaysia https://lnkd.in/gzhWEbfX

ENGIE AMEA’s (Asia, Middle East and Africa) fourth Sustainability Report has been published!    Our ambitions remain strong in the region, focusing on three key areas:   - Empowering customers: We provide innovative energy solutions to help customers reduce their carbon footprint and foster sustainable growth.  - Net Zero by 2045: We're taking concrete steps to achieve this ambitious goal through our actions.  - ESG performance: Our regional business units are actively working towards achieving their mid-term and 2030 #sustainability targets.    Read the full report below:  https://lnkd.in/g24v_2au #ENGIE #withENGIE 

Despite the seemingly distant city of Baku, Azerbaijan, where #COP29 was held, #climatechange affects everyone around the globe, including Singapore. #Decarbonisation of the energy sector is a critical area for both #energytransition and decarbonisation of hard-to abate sectors, presenting opportunities for Singapore to take #ClimateAction. Sharad Somani, Partner, Head of ESG Consulting, KPMG in Singapore, shares his perspectives. Learn more about our #ESG capabilities: https://lnkd.in/gw8w_yUj #KPMGSingapore #COP29Azerbaijan #ClimateAction