07 March 2023
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Decarbonization has received considerable attention in ASEAN due to its significant role in redusing climate change. Countries such as Vietnam, Myanmar, the Philippines, and Thailand among the top ten globally most affected by climate change over the last two decades. The consequences of climate change on the region could be severe, with a potential 11% reduction in GDP by the end of the century due to its impact on agriculture, tourism, fishing, overall human health, and labor productivity. The key drivers for decarbonization include climate change, international pressure, public awareness, technological progress, and economic benefits. Meanwhile, the path to decarbonization varies from country to country in the ASEAN region. Nevertheless, similar targets across ASEAN are in place to achieve net zero emissions by 2050 or 2060, while some broadly opt for carbon neutrality.
Financial institutions are crucial to driving the transition to a decarbonized economy in ASEAN, particularly through the use of green bonds and sustainability-linked (GSS) bonds. Additionally, small and medium-sized enterprises (SMEs) can play an important role in the decarbonization of the ASEAN economy, as 90% of ASEAN businesses are SMEs.
Report Index
1.Key Drivers of Decarbonisation
1.1 Sources of Greenhouse Gas (GHG) and GHG Reduction Methods
2.Challenges of Decarbonisation
3.Decarbonization Policies and Roadmap
4.Business Opportunities of Decarbonisation
4.1.Key Energy Targets by Country
4.2.Current Situation by Country
5.Role of Financial Institutions in Decarbonising
6.ASEAN SMEs’ Directions toward Decarbonisation
6.1 Case Study of Major ASEAN Banks
7.Decarbonisation in ASEAN: Outlook
