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Compiled by Purnima Joshi.
In this issue, we have collated this week's climate change news from around the region - China, India, Korea, Vietnam, Indonesia, Singapore and the ASEAN nations.
The Digest also features articles on the mounting pressure on governments and corporate firms to adopt a climate strategy, and companies such as Nestle, HSBC, BlackRock, Henderson-Massey taking steps to work on climate-change targets and support climate change/sustainable initiatives.
We have a new format this week, and would love to hear your thoughts on it. We welcome suggestions on the content as well.
INDIA & CHINA
Climate financing offers golden opportunity
China Daily, 21 May 2021
The success of the green transition will depend on the availability of financing, along with the entire financial system transitioning toward green finances. However, the efforts across countries are rather scattered right now.
China's electricity grid remains major hurdle in its climate change ambitions
ANI, 20 May 2021
After Beijing’s surprise announcement that it would become carbon neutral by 2060, one of the most pressing challenges for China to meet its pledge to pivot towards renewables is overhauling its electricity grid that is the world’s largest, say analysts and officials.
[Interview] Bittu Sahgal: “Young people want to protect the environment, but don’t have their hands on the wheel”
Mongabay India, 21 May 2021
Bittu Sahgal one of India’s pioneering conservation and environment journalists, who was involved with India’s tiger conservation efforts in the 1970s holds out hope for the future due to the regenerative power of the environment and the promise that the young people are bringing in.
KOREA
McKinsey advises Korean firms to embrace net-zero economy
The Korea Times, 27 May 2021
Time is running out for Korea's business leaders who don't have a climate strategy. Korea has joined other leading Asian countries in making a carbon neutral pledge by 2050, and the sooner business leaders develop a plan for competing and winning in a climate economy, the better.
ASEAN
Southeast Asia in the spotlight ahead of international talks on biodiversity
ASEAN Today, 24 May 2021
Negotiations over the future of the international Convention on Biological Diversity (CBD) resumed after a yearlong break. The CBD is a treaty approved by 196 countries that provides a framework to promote sustainable development for the benefit of both natural habitats and human societies.
Asean’s Covid-19 fiscal policy lacks climate-aligned measures
The Malaysian Reserve , 26 May 2021
THE CIMB Asean Research Institute (CARI) has revealed that climate-aligned measures were found to be lacking in various Asean’s fiscal policy responses to the Covid-19 pandemic, which includes stimulus spending, national budgets and taxation policies.
37 green projects to receive $3.7m in funding
The Straits Times, 23rd May 2021
A total of 37 green projects will receive $3.7 million in grants under the SG Eco Fund, which was set up to aid sustainability efforts, Minister for Sustainability and the Environment Grace Fu said yesterday.
Vietnam to plant 1 billion trees — but how?
Eco Business, 24 May 2021
After a string of deadly typhoons in late 2020, Vietnam’s prime minister called for the country to plant one billion trees nationwide in developed areas such as cities and industrial zone, to reduce the risk of landslides and flooding.
'Globally significant’ 40,000-year-old rock art in Indonesia being destroyed by climate change
Channel News Asia, 19 May 2021
Some of the world’s oldest and most significant rock art, created by ancient civilisations in South Sulawesi, is being destroyed at an alarming rate due to the impacts of climate change.
FOSSIL FUELS
Asia snubs IEA’s call to stop new fossil fuel investments
Reuters, 19 May 2021
Asian energy officials on Wednesday disputed the International Energy Agency's (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero carbon emissions by 2050, viewing that approach as too narrow.
Column: IEA call to end fossil fuels likely to fall on deaf ears in Asia
Reuters, 20 May 2021
It is probably just ironic coincidence, but the same day the International Energy Agency (IEA) called on the world to end fossil fuel investments, the Australian government announced plans for a new, $460 million natural gas-fired power plant.
CORPORATES & CLIMATE CHANGE
‘Kasambuhay for the Environment’: Nestlé PH tackles climate change, declares local commitments
CNN Philippines, 18 May 2021
Henderson-Massey reveals action plan to fight climate change
Our Auckland, 27 May 2021
HSBC launches US$100Mn Climate Finance initiative
ESG Today, 20 May 2021
BlackRock leverages voting power in Hong Kong companies to spur climate-change targets and disclosure
South China Morning Post, 21 May 2021
EVENTS
ADDITIONAL READS
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.
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