The China-EU taxonomy initiative's co-chair Ma Jun revealed that an expanded version will be launched at the upcoming climate summit, with hopes to add large economies like Brazil and Indonesia in the future and become “a globally accepted benchmark for taxonomy development”.
The bonds, focused on green projects, can help programmes in developing countries secure lower-cost financing, but competition and sustaining interest remain challenges.
Microfinance institutions in Cambodia, accused of predatory lending, are pivoting to green bonds while borrowers, burdened by debt and climate impacts, struggle to survive.
The unregulated product is increasingly offered by ESG raters to gauge how “green” a bond or loan is. But “overly positive” reviews challenge their ability to bring credibility to the trillion-dollar sustainable debt market, experts say.
The sustainable development goal financing gap has widened significantly in many developing countries in the region. Coordinated multi-stakeholder regional partnerships and cooperation are needed to mobilise new resources.
Oleh
Naoko Ishii
It is no exaggeration to say that the GCF’s replenishment campaign is a test of the world’s commitment to combating global warming. A successful outcome would not only help close the massive global climate financing gap, but would also allow developed countries to rebuild trust by showing that they understand the urgency of the crisis.
Oleh
Mahmoud Mohieldin dan
Vera Songwe
Linking work on nature and climate goals to debt repayment could give indebted countries the space they need to build resilience.
Oleh
Simon Zadek dan
Jayati Ghosh
The first auction on Malaysia’s new voluntary carbon market, the Bursa Carbon Exchange (BCX), took place on 16 March, with around RM7.7 million in carbon credits sold.
Oleh
Dr Pieter E. Stek
ADX's chief strategy and transformation officer Matthias Büchler tells the Eco-Business podcast why sustainability is a key growth strategy and how the COP summit shaped ESG reporting for listed companies on the exchange.