KUALA LUMPUR, Malaysia, Oct 18 (Bernama-PRNewswire) — With the most to lose from climate change (up to $4.7 trillion in GDP according to recent McKinsey analysis), Asia is on the frontline of the climate crisis. The science is clear, and the financial sector has on its radar the increased risks of severe flooding, typhoons, and drought. Worldwide, Environmental, Social and Corporate Governance (ESG) investing has experienced a wave of growth on the back of the pandemic and a fresh focus on sustainability, and ESG assets are set to account for over a third of assets under management by 2025 (Bloomberg).
In Southeast Asia, sustainability-first business models, climate risk assessments, and ESG investing are still nascent, yet the impacts of climate change are already being felt. Are Asia’s businesses equipped to face these challenges? How do we start to mitigate the impact? Is it too late? Prof. John Sterman, Director of the MIT Sloan Sustainability Initiative and keynote speaker at this year’s upcoming Leadership for Enterprise Sustainability Asia (LESA 2021) conference is adamant that there is hope.
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