COVID-19 has seen governments across developing Asia move significant amounts of capital into relief efforts that have saved countless lives and livelihoods. But emerging economic recovery packages must not upset the sensitive balance between economic growth and the region’s natural capital. Many global thinkers are advocating the critical role of green infrastructure in supporting economic growth and livelihoods, while safeguarding the Paris Agreement targets. Innovative finance mechanisms can play a key role in catalyzing much-needed funds from private capital for a green and sustainable regional recovery.
- ADB forecasts GDP growth in Southeast Asia to contract by 3.8% in 2020 but to bounce back strongly to 5.5% in 2021.
- ASEAN green recovery strategies need to be environmentally sustainable, socially inclusive, and climate resilient.
- Innovative ways of raising urgent financing for recovery can include green bonds, COVID transition bonds, and new ways of de-risking funds.
- The COVID-19 Impact: Context and Synopsis
- A Green Recovery: Criticality and Challenges
- Green Recovery Packages and Finance Mechanisms: Examples
- Green Finance Concepts to Stimulate Post-COVID-19 Recovery
- Seeking Support from ADB and the ASEAN Catalytic Green Finance Facility