OECD COP28 Virtual Pavilion

Unlocking capital for net zero in Asia and beyond: Challenges and solutions on transition finance

Dec 4, 2023 | 9:00 AM - 10:15 AM

Finance & econ instrumentsAsia

Description

Asia is facing increasing vulnerabilities to climate change. Rising temperatures, increased frequency and severity of heatwaves, floods and storms, and sea level rise will increasingly challenge the region’s growth and development unless urgent mitigation and adaptation action is taken. At the same time, the region’s greenhouse gas emissions have been growing fast, with electricity and heat production being the largest and fastest-growing source of emissions, followed by manufacturing. Unlocking transition finance in Asia is rapidly needed to accelerate Asia’s decarbonisation of high-emitting and hard-to-abate sectors. In recent years, several government and market frameworks have been developed in Asia and other regions, namely national and regional transition taxonomies, sector-specific technology roadmaps, and standards for transition-related financial instruments, amongst others. During this session, organised jointly by the OECD and the Ministry of Environment of Japan, panellists will discuss key developments and progress made in Asia and other regions since last year in terms of development of transition finance policies and instruments. Policymakers and market participants will share their best practices and challenges encountered and discuss ways to strengthen mechanisms to avoid carbon lock-in in the region. This session will take place live from Dubai at 13:00-14:15 GMT+4 and will be livestreamed here on the OECD COP28 Virtual Pavilion.

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Opening remarks 

Moderated by

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Speakers

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