A step closer - CLIMATE CHANGE - Magazine | Asia Asset Management
Published: December 8, 2022
The development of investing vehicles designed to give private financial institutions, including asset managers, direct access to investments that com...
Source: asiaasset.com
Related Topics:
Jawa TimurThe Development Of Investing Vehicles Designed To Give Private Financial InstitutionsNcluding Asset ManagersIrect Access To Investments That Combat Climate Change Tooka Significant Step Forward At The Recent G20 Summit In BaliNdonesia The Manila Based Asian Development Bank And Four Partners Signeda Pact On November 14 To Explore Early Retirement Ofa Coal Fired Power Plant Owned By Independent Producer Cirebon Electric Amp Nbsp Memorandum Of Understanding Launches Discussions Accelerate 1A 660 Megawatt Plant In West Java The Aim Is Amp Ldquo To Achieve Significant Carbon Dioxide Emission Reductions Viaa Replicable Model That Can Be Applied Ipps IndonesiaTher Parts Of Asia And The PacificNd Beyond Amp Rdquo Ccording To Their Joint Statement Amp Nbsp This Is The First Such Agreement Under Adb Rsquos Energy Transition Mechanism Or EtmHich Aims To Buy And Then Close Ahead Of Schedule Coal Burning Electric Power Plants In Southeast Asia Beyond Replace The Output With Renewable Energy Amp Nbsp Deal Will Offer Financial Institutions An Opportunity Invest Ina Portfolio Relatively Long Term Projects Aimed Specifically At Reducing Greenhouse Gas EmissionsA Person Familiar With The Matter Tells Asia Asset Management Aam As SuchT Amp Rsquos More Ldquo Directed Rdquo Than Other Forms Of Climate InvestingSuch As EnvironmentalOcial And Governance Investments Or Green Bonds The Adb Amp Rsquos Partners In Deal Are Cirebon Electric PowerNdonesia Amp Rsquos National Power Utility Pt PlnNfrastructure Firm Pt Sarana Multi InfrastrukturNd Indonesia Investment AuthorityHe Sovereign Wealth Fund Amp Ldquo This Is Real Not GreenwashingMp Rdquo David ElzingaA Senior Energy Specialist In The Adb Amp Rsquos Southeast Asia Department Tells Aam He Says Etm Is About Ldquo Trying To Make Something That Attractive Market But It Not Going Be Wants Maximum Amount Of Money Rdquo RatherT Is About Investment Amp Ldquo Ona Risk Adjusted Basis Rdquo The Initiative Comes Ata Time Of Growing Awareness Problem So Called Stranded AssetsN Particular Coal Burning Power PlantsHat Need To Be Closed Well Before The End Of Their Useful Life In Order Reduce Carbon Emissions This Will Require Massive Transition Financing Amp Ldquo Asia Has Some Youngest Fleets Coal Fired Power Plants WorldMp Rdquo Elzinga Says Many Of These Have Been Planned To Run For Decades More And Closing Them Early Wouldn Amp Rsquot Normally Be Economically Viablea Ldquo Transformative Programme The Launch Etm Coincided With Announcement In November By World Bank At United Nations Climate Summit Or Cop27 Sharm El SheikhGypt Ofa Scheme To Provide Grants Projects In Return For Amp Ldquo Verifiable Emissions Reductions Rdquo Nbsp The Etm Programme Aims Combine Official Financing From Adb And Other Sources With Private Institutional Philanthropic Capital 
