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Climate change can have a material impact on sovereign risk through direct and indirect effects on public finances. In addition, climate change raises the cost of capital in climate vulnerable countries and threatens debt sustainability. Governments must climate-proof their economies and public finances or potentially face an ever-worsening spiral of climate vulnerability and unsustainable debt burdens.
The latest Intergovernmental Panel on Climate Change report, Global Warming of 1.5 ºC, notes the importance of mobilizing green finance for limiting global warming to 1.5 degrees Celsius and preventing catastrophic climate change. In line with this, some countries have been implementing policies to support green bonds. Green bonds are debt securities whose proceeds are used to fund environmental projects, including climate change mitigation and adaptation. Therefore, unlike conventional bonds, green bonds finance projects with clear environmental benefits (ICMA 2018).
Environmental, social, and governance (ESG) investment is critical for achieving inclusive growth in Asia and can play a critical role in reducing the income inequality caused by the coronavirus disease (COVID-19).
COVID-19 highlights the need to strengthen environmental risk management and scale-up sustainable finance and investment across Asia
Like the rest of the world, Asia has been hit hard by the COVID-19 crisis. While some countries have been able to contain the spread of the virus relatively well, the disruption of supply chains, sharp decline in global demand, and the large-scale withdrawal of capital have led to severe economic contractions across the region.
Do the socioeconomic spillovers from sewage treatment plants in developing countries justify heavy investment in them?
Decent sanitation for all is crucial for rapidly urbanizing developing countries, such as India. As large volumes of wastewater in developing countries remain untreated, the investments in treatment facilities have not kept pace with the steady increases in population and urbanization and the resulting increases in wastewater volumes.
The People’s Republic of China (PRC) has reformed and opened up its economy for 4 decades. However, accompanying the country’s fast-growing gross domestic product (GDP) and trade sector, environmental degradation, such as deteriorating water quality, land deforestation, pollution, and frequent haze plagues, has attracted a great deal of attention.
By Nikhil Bugalia. Posted August 27, 2018
The National Institution for Transforming India (NITI Aayog) and, more importantly, the citizens of India have acknowledged that the country is undergoing the “worst water crisis” in its history—and they are making commendable efforts to address it. They have proposed a comprehensive index to create awareness and to enable effective water management for the Indian states. In June 2018, NITI Aayog, the premier think tank for the Government of India, proposed the Composite Water Management Index, a tool to assess and improve the efficiency of water resource management.
By Nikhil Bugalia. Posted August 17, 2018
Leh, a high-altitude cold desert in India, is a popular tourist destination hosting around 250,000 visitors annually. At present, the poorly designed septic tanks and soak pits installed by households, hotels, and guesthouses to contain fecal sludge are posing a serious threat to groundwater contamination. To cater to the demand for fecal sludge management (FSM), the Municipal Committee of Leh (MCL) partnered with a private company called Blue Water Company (BWC) and a technical nongovernment organization named BORDA in 2017 to provide an end-to-end FSM service, including pit emptying and operation of a sludge treatment plant.
By Ulrich Volz. Posted August 8, 2018
To place the Asian economies onto a sustainable development pathway requires an unprecedented shift in investment away from industries relying intensively on greenhouse gases, fossil fuels, and natural resources toward more resource-efficient technologies and business models. The finance sector will have to play a central role in this green transformation. Important aspects of green finance are sustainable investment and banking, where investment and lending decisions are taken based on environmental screening and risk assessment to meet sustainability standards, as well as insurance services that cover environmental and climate risk.
For many years, cities have been the engines of economic growth in Asia. However, this growth has brought the immense challenge of the daily generation of millions of tons of solid waste, especially in mega cities. The amount of solid waste being generated in Asia is drastically increasing as 44 million people are being added to city populations every year, and many cities are placing burdens on municipal as well as central governments. By 2050, 50% of the world’s population will live in the Asia and Pacific region (ADB, 2011).
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