Southeast Asia Greening the Finance System Initiative
Launched in July 2019 in Manila, Southeast Asia Greening the Finance System (SEA GFS) initiative shall strengthen the capacity of SEA Financial Institutions (FIs) to actively participate in green finance, with the ultimate goal of decreasing capital invested in fossil plants, while rapidly expediting and scaling RE investments.
SEA GFS achieves its goal of bridging the gaps for scaled implementation of green finance practices in the region by organizing direct on-the-ground dialogues among FIs, project developers, and financial regulators, while proactively collaborating with the various global, regional, and local initiatives whose objectives we share.
SEA GFS shall provide cohesive, sustained, and focused engagement with public and private sector Financial Institutions (FIs) in coordination with regulators, to translate high-level principles into action, including accelerating scale and speed of transactions with project developers.
SEA GFS shall increase awareness and appreciation that climate change poses an urgent financial and operational risk to FI portfolios across Southeast Asia, related to stranded fossil assets in the transition to a lower-carbon economy as well as physical impacts of climate change.
SEA GFS shall accelerate the building of pipeline of investable green infrastructure, including RE and EE projects, by addressing the long and slow due diligence processes within banks as well as improving project readiness submitted by project developers..
SEA GFS shall encourage the increased development and issuance of green financial products such as green bonds, green loans, working capital for ESCOs, and consumer loans for widespread green technology adoption.
Banks and Financial Institutions
Increasing Internal Capacity
Project Developer and Investors
Addressing Financing Gaps
Sharpening Project Readiness
Communicating Private Sector Feedback
Cascading Global Best Practices