Asia Investor Group on Climate Change (AIGCC) launch:

The $7.7 trillion transition: major new report charts Asian climate finance

Tuesday  6  September,  Singapore:  To  mark  the  launch  of  the  new  Asia  Investor  Group  on  Climate  Change  (AIGCC)  today  in  Singapore,  the  group  is  releasing  the  most  comprehensive analysis to date of climate finance sector activity in Asia.

The  report  – Investing  for  the  climate  in  Asia  C  undertaken  by  Asia  Research  and  Engagement  (ARE),  with  the  support  of  Australia  and  New  Zealand  Banking  Group  Limited  (ANZ),  reviewed  the  disclosure  of  leading  domestic  financial  institutions  across  the  Asia  Pacific  region  to  understand  the  state  of  the  finance  industry’s  response  to  climate change. This review included 36 banks, 30 investors, and 24 insurers.

It revealed a significant shift toward embedding climate risk and responsible investment  into  core  business  activities.  However,  much  remains  to  be  done,  with  financial  regulators  needing  to  take  steps  to  help  catalyse  the  shift  to  low  carbon  investment  in  order to reduce systemic risks and improve competitiveness.

Download the media release

Download the report