ASEAN coordination needed for sustainable infrastructure projects: report
With Southeast Asia facing a funding deficit to meet its burgeoning energy and infrastructure needs, the region needs stronger coordination, skills and transparency in elevating sustainable projects to investors, according to the findings of a report by the Singapore Institute of International Affairs (SIIA).
The findings and recommendations to government, banks and business were shared in the report issued on April 2.
The report, titled “Financing Sustainable Infrastructure in ASEAN”, finds that underpinning Southeast Asia’s underutilisation of sustainable financing to meet its vast infrastructure needs is a lack of commonality in environmental and social standards and risks considered by financial institutions, project developers, multilateral institutions and governments.
According to the Asian Development Bank, the infrastructure gap in the ASEAN region from 2016 through 2030 is estimated at US$2.8 trillion, or $184 billion annually.
