A new report by the United Nations highlights the urgent need for sustainable finance in Asia and the Pacific. Despite increasing global emissions and energy needs, financing climate action in the region has fallen behind due to economic challenges and concerns about public debt. The report emphasizes the importance of transforming financing priorities to meet the Sustainable Development Goals and climate action ambitions. It proposes ten principles for action, including reducing obstacles and aligning capital with investment needs. The report also recognizes the potential for mobilizing capital but highlights challenges in deploying it effectively.
Report: https://www.unescap.org/kp/2023/sustainable-finance-bridging-gap-asia-and-pacific