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Ground-level ozone is a major air pollutant that shortens human lives and kills thousands each year, resulting in major economic impacts. It is formed when methane, nitrogen oxides and volatile organic compounds (released from vehicles, industry, power plants and crops) react in the presence of sunlight.
As Asia Pacific sees its first net-zero banking alliance exits, the Singapore lender looks to draw up decarbonisation pathways for two more sectors and has clarified what activities count as transition financing.
Indonesian president Prabowo Subianto’s pledge to retire the country’s fossil fuel plants last year was “misquoted by the media”, claims the leader’s brother Hashim Djojohadikusumo, arguing that such a move would be “economic suicide”.
Indonesia has committed to reaching net zero emissions by 2060, but its reliance on biofuels could create new environmental harms.
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