Financing Sustainable Development — The Challenge
APFSD Side Event organized by ESCAP Sustainable Business Network (ESBN), Pacific Basin Economic Council (PBEC), APRU, KPMG, and HKEx HKGFA.
To meet the UN’s Sustainable Development Goals by the target year of 2030, ESCAP estimates that the Asia Pacific region will need to spend USD 1.5 trillion annually — the equivalent of five percent of GDP. Governments will not be able to provision this amount of money through public finance alone. To fill the gap, they must step up their cooperation with the private sector on sustainable finance. This will require countries across the region, especially developing countries, to strengthen their capital markets and make use of emerging sources of finance such as green bonds — now a US$500 billion market worldwide. This session will discuss sustainable finance and ESG investing prospects and challenges in the region, building off a paper jointly published by ESCAP Sustainable Business Network (ESBN), Pacific Basin Economic Council (PBEC) and KPMG in June 2020 providing a snapshot of the sustainable finance landscape across Asia Pacific.