ADB invited to the US-ASEAN Green Economy Series webinar on Harnessing the Blue Economy: Towards a Sustainable Ocean in ASEAN
Anouj Mehta, Country Director, Thailand Resident Mission and Unit Head of the ACGF, presented ADB’s initiatives to support the oceans health and the blue economy under the Action Plan for Healthy Oceans and Sustainable Blue Economies at a US-ASEAN event on Harnessing the Blue Economy: Towards a Sustainable Ocean in ASEAN on 12 April. He joined an open discussion with other regional experts and presented the REG TA on Promoting Action on Plastic Pollution led by SDCC and highlighted ADB’s platforms including the Blue SEA Finance Hub, the ASEAN Catalytic Green Finance Facility (ACGF), as successful cases of accelerators to catalyze private funding and develop bankable projects for ocean health in Southeast Asia. This event is organized by the U.S. Mission to ASEAN ahead of the Our Ocean Palau 2022 Conference on 14 April.
ADB shares clean energy transition initiatives at 'The Financing of Net Zero Carbon in Emerging Markets' panel event
On 11 April 2022, Director General Ramesh Subramaniam, Southeast Asia Regional Department, participated in a panel discussion on Financing Net Zero Carbon in Emerging Markets, organized by the EU-ASEAN Business Council, the UN-convened Net-Zero Asset Owner Alliance, and the Sustainable Development Investment Partnership. As Southeast Asia is among the world’s most vulnerable regions to climate change, yet still has a high reliance on coal and fossil fuels, DG Ramesh shared some initiatives such as the Energy Transition Mechanism and the ASEAN Catalytic Green Finance Facility (ACGF) that can support Southeast Asia’s transition to clean energy.
President Asakawa calls for stronger regional cooperation to strengthen economic recovery at ASEAN meeting
President Masatsugu Asakawa on 8 April 2022 virtually participated in the 8th ASEAN Finance Ministers and Central Bank Governors’ Meeting with other International Financial Institutions. The meeting was chaired by Cambodia's Deputy Prime Minister of Economy and Finance and ADB Governor Aun Pornmoniroth with National Bank of Cambodia Governor, Chea Chanto as co-chair. President Asakawa, in his speech, highlighted ADB’s continued support to ASEAN countries to navigate the headwinds ahead, and achieve a green, inclusive, and resilient recovery. To sustain the recovery momentum, he identified three policy priorities, namely strengthening regional cooperation, enhancing domestic resource mobilization, and scaling up investment for green and inclusive growth. Officials from the ASEAN+3 Macroeconomic Research Office, Asian Infrastructure Investment Bank, International Monetary Fund, and World Bank also participated in the meeting.
ACGF highlighted at the 8th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting
Vice-President (Operations 2) for East Asia, Southeast Asia, and the Pacific, Ahmed M. Saeed, joined on 7 April Cambodia's Deputy Prime Minister, Minister of Economy and Finance, and ADB Governor, Aun Pornmoniroth, in opening the ASEAN Showcase Event on Sustainable Finance: Mobilizing Financial Resources for Post COVID-19 Economic Recovery on the sidelines of the 8th ASEAN Finance Ministers and Central Bank Governors Meeting. Governor Pornmoniroth highlighted the ADB-supported ASEAN Catalytic Green Finance Facility and the ASEAN Taxonomy on Sustainable Finance as key ASEAN achievements on green finance. Vice-President Saeed encouraged the ASEAN countries to work together to address the social impact of the pandemic and emphasized the need to increase financing by mobilizing public sector resources, attracting private sector for green and social investments, and leveraging public capital to mobilize private resources.
2021 Annual ACGF Report published
The ASEAN Catalytic Green Finance Facility’s (ACGF) second annual report, ASEAN Catalytic Green Finance Facility 2021: Financing for a Green Recovery in Southeast Asia, is now published. In 2021, the ACGF was mainstreamed as a permanent facility under the AIF after a successful pilot period (2019-2021) that demonstrated the facility’s ability to originate and support development of green projects and leverage financing for them. This report includes the progress made by the ACGF from January to December 2021, including the approval of five projects, the launch of the Blue SEA Finance Hub and new cooperation agreements, and the targets set for 2022–2024.
ACGF project cited at business forum at Expo 2020
ADB Indonesia Deputy Country Director Said Zaidansyah on 28 March 2022 spoke at a business forum on the roles of blended finance such as green funds to promote the development of sustainable and resilient infrastructure in Indonesia. He shared ADB’s experience in setting and managing innovative finance mechanisms, including SDG Indonesia One-Green Finance Facility and ASEAN Catalytic Green Finance Facility. The forum was organized as part of Finance Ministry’s Indonesia PPP Day that took place at the Expo 2020 in Dubai. Watch the recording.
Green Infrastructure Investment Opportunities report on Indonesia launched with Climate Bonds Initiative
As part of PT SMI's Business Forum: Net-Zero Emission, on 17 March 2022, the Green Infrastructure Investment Opportunities: Indonesia—Green Recovery 2022 Report was launched as a result of joint efforts of PT SMI, Climate Bonds Initiative, ADB and the ASEAN Catalytic Green Finance Facility (ACGF). This report is the third in the Climate Bonds Green Infrastructure Investment Opportunities (GIIO) Indonesia series (2018 and update in late 2019) and aims to promote green and sustainable infrastructure projects in Indonesia for global investors. Anouj Mehta, Country Director, Thailand Resident Mission, and Unit Head of the ACGF, was invited to participate in a high-level discussion with other climate finance experts, after a keynote speech from Pak Luky Alfirman, Director General of Budget Financing and Risk Management, Ministry of Finance of the Republic of Indonesia.
ACGF hosts session on Accelerating Climate Finance for Green Recovery at SEADS 2022
On 16 March 2022, the ASEAN Catalytic Green Finance Facility (ACGF) organized a panel discussion on what is needed to rapidly mobilize climate finance in Southeast Asia and registered approximately 300 participants. The session was part of the 2022 Southeast Asia Development Solutions Symposium and included a keynote speech from Anouj Mehta, Country Director, Thailand Resident Mission and Unit Head of the ACGF, and a panel discussion on strengthening the enabling environment and policy frameworks for green and climate finance with climate finance experts from PT Sarana Multi Infrastruktur (Indonesia), Bangko Sentral Philippines, Sustainable Finance Institute Asia and Climate Bonds Initiative, moderated by Naeeda Crishna, Infrastructure Specialist (Innovation and Green Finance), Southeast Asia Department, ADB.
ADB in panel at launch of report on mapping ESG integration in public infrastructure finance
On 14 February 2022 the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and WWF-Singapore launched their joint report on how development finance institutions in the infrastructure financing space integrate climate and biodiversity-related risks into their decision-making systems. This compliments the jointly hosted WWF and ADB public development banks and biodiversity webinar opened by Bruno Carrasco, Director General Sustainable Development and Climate Change Department on 31 January 2022. Representing ADB, Anouj Mehta, Country Director, Thailand Resident Mission and Unit Head of the ASEAN Catalytic Green Finance Facility (ACGF), and Katharine Thoday, Principal Environmental Specialist, participated in the discussion sharing how ADB is greening infrastructure investments and showcasing the role of blended finance initiatives such as the ACGF and the Blue SEA Finance Hub, in catalyzing private investment and accelerating development.
ADB delivers keynote remarks at launch of ASEAN Network for Climate Governance
On 14 February 2022, during the launch of the ASEAN Network for Climate Governance organized by Climate Governance Malaysia, Anouj Mehta, Country Director, Thailand Resident Mission and Unit Head of the ASEAN Catalytic Green Finance Facility (ACGF), delivered a keynote speech on climate risks in Southeast Asia and how ADB and the ACGF, which ADB manages, are contributing to financing green climate solutions for the sustainable development of the region. The goal of the ASEAN Network for Climate Governance is to raise awareness of climate risks that will disproportionately affect the ASEAN region and aims to mobilize boards of directors to focus on the climate crisis and be aware of the principles for effective climate governance.