SINGAPORE, 14 December 2021 — A new study by 2° Investing Initiative (2DII) and WWF-Singapore uncovers what driving tangible, real world change entails for Asian financial institutions (FIs), using dedicated surveys that are based on the authors’ research about effective climate actions.
Titled Barriers to Impact, the responses reveal that most of the surveyed FIs have recently started on their responsible investment journey, but most of their impact strategies and ambitions are hampered by limitations.
Most parts of Asia are highly exposed to climate change while contributing significantly to climate change, with the region responsible for 53% of the global emissions. There is an urgent need to decarbonise Asian economies in-line with the Paris Agreement goals, and this will require all businesses to contribute to these goals, including the financial sector.
According to WWF-Singapore’s 2021 annual RESPOND report on responsible investment in the region, asset managers in Asia are taking important steps to build their responsible investment (RI) capabilities. However, there is a need to accelerate their ambitions and practices to match current best practices in RI and contribute to driving tangible, real world change.
The report further articulates recommendations for policy makers, financial supervisors and financial institutions on the most effective ways to break through the barriers and accelerate Asia’s finance sector’s contributions to collective sustainability objectives and the low-carbon transition.
World Wide Fund for Nature (WWF) Singapore is one of the world’s most respected independent conservation organisations. WWF’s mission is to stop the degradation of the earth’s natural environment and to build a future in which humans live in harmony with nature.As one of WWF’s international hubs, WWF-Singapore supports a global network spanning over 100 countries. We work to meet key conservation goals, such as deforestation, haze pollution, food security, sustainable finance, sustainable consumption and illegal wildlife trade. For more information, visit wwf.sg.