ACGF participates in launch of Philippine Sustainable Finance Roadmap
On 20 October 2021, Anouj Mehta, Unit Head of Green and Innovative Finance and the ASEAN Catalytic Green Finance Facility participated in the launch of the Philippine Sustainable Finance Roadmap and Guiding Principles. The event was organized by the Inter-Agency Technical Working Group for Sustainable Finance (Green Force), led by the Philippine Department of Finance and the Bangko Sentral ng Pilipinas, in partnership with the British Embassy Manila. ADB will support the rollout of the roadmap and guiding principles under broader support for green finance in the Philippines.
ACGF highlighted as one of the initiatives to help ADB achieve its new climate financing target of $100 billion from 2019-2030
ADB announced it is elevating its ambition to deliver climate financing to its developing member countries to $100 billion from 2019–2030, from its 2018 commitment of provide support of at least a cumulative $80 billion by 2030. The additional $20 billion will provide support for the climate agenda in five main areas, with the fourth one being a green, resilient, and inclusive recovery from COVID-19, including through innovative financing platforms such as the ASEAN Catalytic Green Finance Facility (ACGF) and Green Recovery Platform, which are expected to leverage funds from capital markets and private sector investors for low-carbon infrastructure.
ACGF and its Green Recovery Program featured in Singapore ministerial speech
In a keynote address at the ISEAS – Yusof Ishak Institute's 36th ASEAN Roundtable on 12 October 2021 on the theme "Braving the Storms: ASEAN in Crisis Mode", Minister of State Alvin Tan of the Singapore Ministry for Culture, Community and Youth as well as the Ministry for Trade and Industry, mentioned the ASEAN Catalytic Green Finance Facility (ACGF) and the Green Recovery Program which the ACGF is implementing with the Global Climate Fund. The program was held forward as an initiative that "will help ASEAN emerge stronger and greener, and entrench ASEAN’s position in the international economy in the 21st century."
ACGF singled out three times at AFD online event
At the online “Conference Southeast Asia's challenges to sustainable and inclusive development” hosted by the Agence Française de Développement (AFD) on 30 September 2021, Philippe Lacoste, Director for Sustainable Development, French Ministry for Europe and Foreign Affairs, highlighted the ASEAN Catalytic Green Finance Facility (ACGF) in his opening remarks as an example of a valuable initiative that AFD is supporting in Southeast Asia. During the same plenary session, Jean-Pierre Marcelli, Director of Operations of AFD, also mentioned the ACGF as a perfect example of how to support the region. At a later round table session, H.E. Igor Driesmans, the European Union’s (EU) Ambassador to ASEAN, once again brought forward the ACGF as an example of how the EU provides support to the ASEAN region. The ACGF works with both AFD and the EU as cofinancing partners to design and finance green infrastructure projects in Southeast Asia.
VP van Wees highlights upcoming initiatives on green and blue finance, supported by the ACGF
Vice-President Ingrid van Wees provided remarks to the Asia House event “The Role of Green Finance in Delivering Southeast Asia’s Sustainability Goals”, where she highlighted the critical needs and challenges the ASEAN region is facing to expand green finance, and how multilateral development banks can help countries in achieving their sustainable targets, by providing finance and technical assistance to develop green and sustainable infrastructure projects. She mentioned the need to create de-risking instruments and incentives to develop sustainable and bankable projects, the core work of the ASEAN Catalytic Green Finance Facility (ACGF).
ACGF highlighted as a successful initiative at UXOLO event on Climate Finance
As part of Uxolo Development and Impact Finance's Climate Finance event, ADB Infrastructure Specialist Naeeda Crishna Morgado participated in this high-level panel discussion on accelerating private green financing, where she presented the work done by the Southeast Asia Department of ADB, and highlighting ACGF as a key initiative to accelerate the flow of capital to climate action. This was in addition to the Uxolo podcast interview on innovative financing to achieve the SDGs and the Paris Agreement commitments.
ACGF presented as one of the most successful innovations of the Southeast Department in ADB’s flagship Knowledge Management Forum
Anouj Mehta, Head of the Southeast Asia Department (SERD) Innovation Hub and the ASEAN Catalytic Green Finance Facility (ACGF), was invited to lead an internal session for ADB colleagues at the ADB Knowledge Management Forum on ‘How We Cooperate on Green and Innovative Infrastructure Finance in Southeast Asia’. He presented the needs and rational behind the establishment of the SERD Innovation Hub, and stressed the challenges, achievements and future plans of the ACGF, as one of its main successful initiatives.
ACGF highlighted in Bain & Company report and The Straits Times
The Straits Times, the Singapore morning daily, generally recognized as one of the outstanding English-language papers of the Far East, published an article headlined ‘Asean well on way to green transition but needs to speed up to seize opportunities: Expert’ where it highlights the ACGF as one of ADB’s initiatives to mitigate the risk to private investors while managing the cost to governments. The article refers to Bain&Company report, released last week, on Southeast Asia’s Green Economy. The report cites ACGF as an example of what is needed to move the needle on green recovery.
Thailand’s NHA launches first Sustainability Bond
Thailand’s National Housing Authority (NHA) Sustainability Bond 2021 was successfully launched and was fully subscribed for the 2,100 million baht (more than $62 million) as of 23 September 2021. ACGF and TRM supported NHA with the preparation of a Sustainability Framework to incorporate environmental elements into their assets and projects, building on their successful Social bond issuances last year which ADB also supported. ADB also provided ongoing capacity support for independent external review ensuring alignment to international standards and best practices.
ACGF joins 2nd GCAP Stakeholders Consultation Meeting in the Philippines
The ASEAN Catalytic Green Finance Facility (ACGF) was invited to join the 2nd Stakeholders Consultation Meeting on the Preparation of the General Santos City Green City Action Plan (GCAP) to provide an overview to city officials on alternative green and blue financing facilities and opportunities in the Philippines. The meeting was part of ADB’s technical assistance to the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) under its Green Cities Initiative (GCI), to promote regional cooperation and integration and development in Southeast Asia.