Personal investment ‘ does assist’ with shift
PUBLISHED: 1 Jan 2025 at 06: 32
To assist members of the Association of South East Asian Nations ( Asean ) in tackling climate change, the United Kingdom has launched a green transition investment initiative.
The UK Ambassador to Asean, Sarah Tiffin, said in an exclusive interview with the Bangkok Post that the Southeast Asian region has been identified as one of the most resilient to climate change during a recent visit to Bangkok. Both Asean and the UK shared the same fears about the natural move. While this area is advancing financial growth, it has its own problems regulating the rising carbon emissions that come with rapid economic growth.
The UK and the United Kingdom Economic & Social Commission for Asia and the Pacific ( Escap ) collaborated to launch the Southeast Asian Green Investment Catalyst initiative, which promotes sustainable foreign direct investment.
She stated that the UK government is currently contributing £2 million ( roughly 85 million baht ) to this initiative to aid the Asean Secretariat and member states in implementing the recently agreed Asean Regional Investment Promotion Action Plan, which was formally approved by Asean Economic Ministers in September 2024.
The Action Plan represents Asean’s first planned strategy for attracting alternative investment across worth chains, a major shift in regional cooperation in the promotion of responsible development.
The bank will also provide Asean Investment Promotion Agencies with capacity-building assistance, and it will also help the Asean Investment Forum in 2025 and 2026 to promote natural investment-ready prospects to buyers.
” We, as the UK, are the newest speech spouse, and we became Asean’s lover three years ago. We are brand-new to this area, and we would like to work really closely with the Secretariat and all Southeast member states to figure out how to work together ideal, where we can add the most value and where we can exchange policy-relevant information with each other, she continued.
The Asean Green Investment Catalyst effort aims generally to facilitate foreign direct investment in crucial alternative sectors that are essential to Asean’s changeover to low-carbon societies.
She stated,” The UK is delighted to support this cutting-edge program that will enable alternative investment in Southeast Asia.”
” We are demonstrating our support for Asean’s ambitious climate goals and our authority in climate fund.” This effort exemplifies the transformative power of UK-Asean assistance in promoting the region’s transition to zero emissions while creating lasting financial opportunities.
She questioned how the UK was assist Asean in addressing green transition through this program. She said that encouraging the private sector to generate their expense into natural transition is regarded as a good place to begin.
There is no fixed thought for a natural transition, she explained, and it could be submitted to obtain funding.
” What we want to do is to stimulate as many thoughts and ideas as possible from Asean member states and at the local level across the themes of the project, which, as I say, financing, policy-making, wildlife, cities. Then we will evaluate projects and back those that we believe you add the most value and those that we believe are the most valuable,” she continued.
” But the general purpose is to enable Asean transition to a brighter, more climate-resilient economy”, she noted.
” If we can reduce carbon emissions and foster economic growth, it will help to increase this region’s lives, livelihoods, and economy, as well as address the looming climate change problems.”