Adoption rates for climate transition plans still low in Asia despite increased awareness and demand

Quick Summary:

Investors in Asia are positioning themselves for a climate-resilient net zero economy, but not at the necessary pace, as most fail to act to effectively manage climate risks and opportunities in line with global climate goals.

Businesses without credible climate action plans may also face reduced access to capital and higher borrowing costs, as investors may seek to minimise exposure to sustainability and reputational risks, Chaudhury added.

Credible climate transition plans may also become mandatory as disclosure requirements grow increasingly stringent; climate transition plans are, for example, already mandatory for listed companies in the European Union under the Corporate Sustainability Reporting Directive.

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Article Details

Author / Journalist: Yajie Yang

Category: EconomyBusiness

Markets: SingaporeBangladeshIndiaPhilippines

Topics: Climate science Decarbonisation Emissions Scope 1 Climate risk Net zero Climate Scope 2 Reporting

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 01:13:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1779 words

Reading Time: 10 minutes read

Sentences: 58 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 21642944

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