The Asian Development Bank (ADB) and Japan’s Government Pension Investment Fund (GPIF) recently formed a partnership to support green project financing through investments in ADB’s green bonds.
“We are pleased to collaborate with GPIF on this important initiative that promotes environment-related investments in Asia and the Pacific and is closely aligned with ADB’s development mandate,” ADB President Mr. Takehiko Nakao said.
ADB issues green bonds to finance projects in the Asia and Pacific region that help its developing member countries mitigate greenhouse gas emissions and adapt to the consequences of climate change. ADB issued its first green bond in 2015. It has since issued more than $6 billion equivalent green bonds in various currencies. ADB green bonds provide opportunities for institutional investors, including pension funds and asset managers, to achieve their green mandate.
The green bond investment will help GPIF fulfill its stewardship responsibilities for environment, social, and governance (ESG) investments. GPIF, the largest pension fund in the world in terms of assets under management, can support ADB’s green bond program in a substantial way.
“GPIF requires all asset managers to integrate ESG into their investment analysis and decision-making. We regard the purchase of Green, Social, and Sustainability Bonds as one of the direct methods of ESG integration in the fixed income investment. GPIF is committed to promote ESG integration through our investment chain in order to ensure the sustainable performance of the pension reserve fund for all generations,” GPIF Executive Managing Director and Chief Investment Officer Mr. Hiro Mizuno said.
Global CO2 emissions have been increasing since 2018; and Asia produces about 40% of global emissions. “Driven by continuous economic growth, accelerating urbanization, and expanding middle classes, Asia accounts for the majority of rising energy needs worldwide. It is, therefore, essential that the region plays a proactive part in global efforts to reduce emissions from houses and offices, industry, and transport,” ADB Vice-President for Finance and Risk Management Ms. Ingrid van Wees said.
ADB will scale up its support for climate change adaptation and maintain its assistance for mitigation through clean energy and energy efficiency projects and sustainable transport. Under Strategy 2030, ADB will ensure that 75% of the number of its committed operations will be supporting climate change mitigation and adaptation by 2030. Climate finance from ADB’s own resources will reach $80 billion for 2019–2030.
Forum Highlights Low-Carbon Technologies and Policies as Key to Asia- Pacific’s Sustainable Future
Countries in Asia and the Pacific must adopt more effective and innovative low-carbon policies and technologies to secure greener and more sustainable growth, delegates heard at a forum today hosted by the Asian Development Bank (ADB) and the Hunan Department of Ecology and Environment.
The Asia-Pacific Forum on Low-Carbon Development, now in its fourth year with the theme “Low Carbon Solutions for Our Green Future”, has brought together more than 600 policymakers and technology developers to showcase success stories in promoting and advancing low-carbon solutions to development challenges across the Asia and Pacific region. The forum is being hosted in Hunan Province’s capital, Changsha, in the People’s Republic of China (PRC) from 16 to 18 October.
“A low-carbon future is vital for combating climate change,” said ADB Vice-President for Administration and Corporate Management Ms. Deborah Stokes. “This year’s forum is about getting people together, exchanging ideas, and getting down to work, particularly in promoting cooperation, innovation, and commercially scalable low-carbon solutions for green development in both urban and rural areas in the PRC as well as the rest of the Asia and Pacific region.”
With keynote speeches from former United Nations Secretary-General Mr. Ban Ki Moon and the Special Representative for Climate Change Affairs of the National Development and Reform Commission Mr. Xie Zhenhua, the forum will look into the industrial transformation needed for low-carbon economies including future energy services, pollution control, revolutions in building design, zero-waste cities, and other technological advances.
Ensuring a low-carbon growth path and development future for Asia and the Pacific is critical for the entire world population. Carbon emissions from the region have risen rapidly from 25% of the global total in the 1990s to 40% in 2012 and are expected to reach 50% by 2030. Unabated climate change could also lead to significant economic losses for countries in Asia and the Pacific.
ADB has been working to address the effects of climate change and promote low-carbon growth in Asia and the Pacific, particularly through the introduction of new technologies and policy support. For instance, the ADB-supported Climate Technology Finance Center in Hunan Province has been demonstrating successful low-carbon initiatives that can be replicated elsewhere in the PRC and in the Asia and Pacific region. This includes the establishment of a low carbon technology venture fund; launch of an accelerator program to mentor early stage clean technology startups; and the creation of a low carbon technology network and market platform.
UNECE supports Azerbaijan towards ratification of key Air Convention protocols
To avoid damage to the environment, public health and the economy, adopting targets to reduce emissions and introducing measures to enforce them is essential. Providing a framework to facilitate these measures, UNECE assists countries in Eastern Europe, the Caucasus and Central Asia in formulating policy responses to the air pollution challenge by ensuring the implementation and ratification of the Air Convention and its key Protocols.
In this regard, UNECE organized a national round table to discuss domestic law on air pollution control in Baku, Azerbaijan, this week (8 October 2019). The purpose of the event was to raise the political profile of the Convention and increase awareness of the benefits of accession to its Protocols and to further assist Azerbaijan in aligning its national legislation with the provisions of the Protocols and determining the next steps towards ratification.
High-level participants from the Ministries of Environment and several other Ministries and representatives from the private sector and civil society discussed the recommendations on the steps towards ratification of the key Protocols of the Convention. Participants concluded that ratification was feasible, but several steps on the way to ratification were still needed.
The Air Convention, which remains the only binding regional agreement of its kind anywhere in the world, celebrates 40 years of successful cooperation to tackle air pollution this year. Under the Convention, 51 countries in Europe and North America are cooperating to reduce deadly air pollution, achieving significant results, including the prevention of 600,000 premature deaths annually in Europe.
This week marked an important step in the Convention’s history with the entry into force of amendments to the Gothenburg Protocol, establishing legally binding emissions reduction commitments for 2020 and beyond for the major air pollutants: sulphur dioxide (SO2), nitrogen oxides (NOx), ammonia (NH3), volatile organic compounds (VOCs) and fine Particulate Matter (PM2.5).
Planting trees has never been easier!
For the first time ever, some of the best community-led tree planting projects from over 20 countries have come together to deliver a massive boost to the world’s reforestation efforts. Now, with the Plant-for-the-Planet App, everyone can plant trees worldwide with just a few clicks. 100 per cent of the money raised goes directly to the tree planters.
Greta Thunberg said: “It is simple. We need to protect, restore and fund nature.” The new Plant for the Planet App allows you to do just that. For just €3, you can plant a tree in Brazil. For just €100, you can plant 1,000 trees and help restore the landscape of Indonesia.
You don’t have a sapling at hand? Or want to avoid getting dirt under your fingernails? The Plant-for-the-Planet App is your way to help nature recover by selecting from 50 hand-selected reforestation projects from developing countries. The benefits of tree planting are not just for nature, they are also a vital source of income for poor communities. Many more projects are coming.
Just select your favourite project. Donate. The trees are planted for you. No excuses. Each tree adds to the World Tree Counter.
Plant Your Own Forest
The app also allows you to:
– See where all your donated trees were planted
– Register trees you’ve planted yourself with photos, locations and more
– Gift donated trees to others
– Start a tree planting competition among schools, with colleagues or friends
– See our new “Forbes List” – ranking people by planted trees!
Who’s Behind This?
The app was built over two years by seven young people from Plant-for-the-Planet Foundation under the leadership of Sagar Aryal (24), who has been planting trees with Plant-for-the-Planet for over 10 years, as one of 81,000 children and youth from 73 countries.
The Plant-for-the-Planet Foundation aimed to plant 100 million trees by 2030 through their project in the Yucatan-Peninsula. But they realised that 10,000 projects of that size are necessary to restore a trillion trees, and therefore decided to focus on sharing their tools with a multitude of other projects to help them scale up their work – that’s what this app is about. There are no fees or costs for donors, tree-planting NGOs or anyone else. This app helps to implement the excellent goals of the Bonn Challenge – a global effort to bring 150 million hectares of the world’s deforested and degraded land into restoration by 2020, and 350 million hectares by 2030 – by creating a positive chain reaction. More than 10,000 people signed up to the app in the development phase.
This project could not have happened without the advice, guidance and support of UNEP.
“With the late Wangari Maathai in mind, I’ve poured all my heart and soul into this app for the past two years. I hope she would be happy and proud of us,” said Sagar Aryal (24), lead developer.
In version 2.0 we will allow users to watch the donated forests grow with satellite images. Stay tuned!
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