Green and sustainable economic recovery from the COVID-19 pandemic is the main agenda for countries, including the ASEAN region. The Climate Bond Initiative estimated that the issuance of green, social and sustainable (GSS) bonds and loans in ASEAN reached an all-time high of USD 12.8 billion in 2020, up slightly from the 11, USD 5 billion issued in 2019. Cumulative issue in ASEAN now stands at USD 29.4 billion. The ASEAN region also faces the consequences of climate change, typhoons and tropical diseases as glaciers melt and oceans rise. Therefore, early climate action in the region is in both the global interest and in the interest of the region. Maximizing sustainable finance might be one of the best options to weather the storm.
To support the development of the sustainable finance market in the region, the World Bank Group will organize a series of webinars focusing on country perspectives from October 2021 to January 2022 as part of the Sustainable Exchange Development (SEEDS) series. . A series of webinars that will present good policy and regulatory practices, as well as sustainable finance products and services, using a peer-to-peer format. The initial set of webinars will highlight key lessons from one country, shared and discussed with regional audiences, followed by a peer group session from several other countries discussing these developments and their applicability in their own countries. . The first 4 webinars in the series will cover Malaysia, Thailand, Indonesia and the Philippines, chosen on the basis of a dialogue with the respective authorities. These ‘on the ground’ peer-to-peer knowledge exchange events can provide valuable and timely information to policy makers, enabling them to encourage new innovations within their own markets.