Asia’s Decarbonization Conundrum & the Importance of Building Public-Private Trust

Council Meeting Agenda | Thursday, April 21, 2022

Asia’s Decarbonization Conundrum & the Importance of Building Public-Private Trust

Six months ago, our October 21, 2021 ACLC session entitled “Climate Alert! Prospects for Southeast Asia in the Wake of Inaction,” raised the red flag on decarbonization efforts throughout Asia Pacific. Guest speakers from The World Bank and Accenture shared with the group some initial findings that suggested that governments in Asia are alarmingly behind in addressing climate change mitigation. Few countries, (including Singapore), at that point had made firm carbon reduction commitments. Since the convening of the 26th UN Climate Change Conference (a.k.a. Cop26) in late October/early November 2021, most all signatory countries made public emissions reduction commitments. Unfortunately, those commitments have yet to materialize. According to a recent study, only 28% of companies are on track.

The implications for the world are dire for Asia. The shift in climate, rising oceans, and change in weather patterns point to environmental calamities and human displacement, the likes of which the world has never seen. Despite the medium- to long-term risks, governments through much of the region are slow to embrace and enact programs and funding to mitigate the risk. At the heart of it is a fundamental distrust of “the West” and multinationals, who many policy makers in Asia believe are culpable for the current crisis, yet reluctant to lend financial and political support to a region in need.

In this April 21 session of the Asia Corporate Leadership Council, we will take stock of what progress (if any) has been made by governments and corporations in the region to activate full-fledged decarbonization efforts. To help us better understand current circumstances, we welcome back to the Council Jeff Delmon from The World Bank, and Dwight Hutchins from Accenture, to share with us findings from their most recent Emission Reduction Consultation and new insights from more than 100 interviews with governments, private sector leaders, public policy thought-leaders, and carbon emission experts. We will also be joined by two guest experts. Adam Schwarz, CEO of Asia Group Advisors, and Laura Ashton, Co-Founder and Managing Director of Low Carbon Advisors.

Agenda details are as follows:

8:30-8:45am:        Welcome the Members and session kick-off

8:45-9:15am:         Initial findings from the Emissions Reduction Credit (ERC) market consultation

9:15-9.45am:         Reaction and additional insight from guest experts

09:45-10:30am:    Member and Panel discussion

10:30am:               Close

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