Overview

Asia is where the battle against climate change will be won or lost. Asia accounts for half of the world's greenhouse gas emissions and is home to about 60% of the global population. The issues of transition are most acute in Asia, with growing affluence and rapid urbanization alongside the urgent needs of poverty alleviation. 

About 85% of the energy consumed in Asia comes from fossil fuels and Asia’s demand for energy is projected to double in 2030.  Asia is also most vulnerable to climate change, with large populations living close to locations prone to drought, floods, and rising sea levels.  Finally, Asia is diverse – across stages of economic development, and across a variety of climate related risks and transition challenges. If we can successfully help Asia transition to net zero, it will go a long way in getting the world to net zero.

The ‘just transition’ is about greening the economy in a way that is as fair and inclusive as possible to everyone impacted. It involves ‘maximising the social and economic opportunities of climate action, while minimising and carefully managing any challenges – including through effective social dialogue – among all groups impacted, and respect for fundamental labour principles and rights’ (ILO). Rooted in sustainable development, a just transition leverages environmental strategies to advance decent work, promote social inclusion and eradicate poverty. 

Key points of the session on Just Transition:

1. What is a ‘Just Transition’
2. Why is a Just Transition relevant for Financial Institutions?
3. Stewardship & the Just Transition

Organized by The Institute of Banking and Finance (IBF) Singapore and Robeco, this webinar is part of the Sustainability Lecture Series which aims to provide the latest knowledge on sustainable investing.