Day: April 21, 2022

SF6 is the world’s most potent manmade greenhouse gas. It is also in common use, insulating switchgear for medium and high-voltage electrical transmission. In this episode of Climatic, Nuventura co-founder Fabian Lemke explains how new technologies could made SF6 obsolete.

Climatic is ADB Ventures’ series about the innovators decarbonizing Asia and the Pacific. It is produced by the Asian Development Bank and ADB Ventures with financial support from the Climate Investment Funds’ Clean Technology Fund program. The latest Climatic video series features interviews with innovators, investors, and infrastructure operators who are working to make electricity grids stronger, greener, and more resilient.

Source: Asian Development Bank

WASHINGTON, D.C. — The Asian Development Bank (ADB) and fund manager ILX Management (ILX) signed cooperation arrangements that will help scale up private sector investments to address climate change and other development challenges in developing countries as they target achieving the United Nations’ Sustainable Development Goals (SDGs).

The two parties will cooperate in identifying projects under ADB’s private sector operations that qualify for cofinancing. ILX Fund I, a private credit fund managed by ILX, will help mobilize cofinancing for projects across ADB’s developing member countries (DMCs). ILX will invest on behalf of Dutch pension provider APG Asset Management.

“We are thrilled to partner with ILX to mobilize financial resources that will help developing countries to meet their SDGs,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “Expanding partnerships with institutional investors like ILX and ADB’s strong track record of investing for development impact will make a meaningful contribution particularly to climate action in our region.”

“The partnership demonstrates our shared commitment to fostering sustainable and inclusive growth in Asia and the Pacific,” said ILX Chief Investment Officer Elvira Eurlings. “We look forward to working with ADB, and with other institutional investors as they play an increasingly important role in providing finance to help countries in emerging markets meet climate and other development goals.”

In 2021, ADB elevated its ambition to provide $100 billion in cumulative climate finance to its DMCs from 2019 to 2030. It has committed to ensure that at least 75% of ADB projects address climate change mitigation and adaptation efforts by 2030.

Based in Amsterdam, ILX creates large-scale investment opportunities in global development finance that directly contribute to sustainable development across emerging markets. ILX Fund I invests in private sector loans arranged by multilateral development banks and development finance institutions. Launched with a $750 million commitment from APG Asset Management, ILX Fund I targets a total fund size of $1 billion.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: Asian Development Bank

ABU DHABI— The Philippine Embassy in the UAE and Philippine Economic Zone Authority (PEZA) boosted efforts in promoting investment opportunities in Philippine special economic zones or free trade zones.

In her remarks during the back-to-back business forums recently organized by PEZA, Ambassador Quintana cited a 2019 UNCTAD study which ranks the Philippines as second to China in terms of number of Special Economic Zones or SEZs (China had 2,543 SEZs and the Philippines had 538). She also shared the latest developments in the economic relations between the Philippines and UAE with the finalization of the Philippines-UAE Memorandum of Understanding on the Reciprocal Promotion and Protection of Investments or IPPA.

“This will create a secure and stable environment that will engender an increase in bilateral investments between our two countries. This is timely, as the Philippines and the UAE will soon begin negotiations towards a Comprehensive Economic Partnership Agreement or CEPA, which lays the foundation for deeper trade and investment relations between the two countries, taking advantage of the huge potential that have yet to be explored,” the Ambassador emphasized.

PEZA Director-General Charito B. Plaza highlighted the recent adoption of new and game-changing reforms to boost the Philippines’ growth and competitiveness which include changes in legislations such as the Ease of Doing Business Act; Real Estate Investment Trust Act; the Corporate Recovery and Tax Incentives for Enterprises (CREATE Act) which put in place flexible incentives system; Retail Trade Liberalization Act; Public Service Act; and Foreign Investments Act.

The Ambassador lauded the role of the Philippine Business Council (PBC) – Abu Dhabi in creating and sustaining business linkages and relationships with the Emirati private sector.

Source: Republic of Philippines Department Of Foreign Affairs

USASEAN hosted a panel discussion with regional experts on how to preserve and develop the blue economy in ASEAN. Panelists included representatives from the ASEAN Secretariat, Indonesia Ocean Justice Initiative, and ASEAN Centre for Biodiversity. In the panel discussion on Green Finance, the U.S. Development Finance Corporation discussed how debt-for-nature swaps could be used to enhance biodiversity conservation and the head of ASEAN Catalytic Green Finance Facility at the Asian Development Bank shared how it successfully issued its first blue bond of $300 million last year while noting that a lack policy harmonization, economic incentives, and pipeline of bankable projects continue to be barriers to blue investment. The United States is committed to supporting the sustainable development of the blue economy in ASEAN, including via assistance from USAID.

Source: U.S. Mission to ASEAN