SOUTHEAST ASIA GREENING THE FINANCE SYSTEM INITIATIVE
Launched in July 2019 in Manila, Southeast Asia Greening the Finance System (SEA GFS) initiative aims to 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 bridges the gaps to unlock scaled implementation of green finance practices in the region by facilitating direct on-the-ground dialogues among FIs, project developers, and financial regulators, while proactively collaborating with global, regional, and local initiatives whose objectives we share.
The Southeast Asia Greening the Finance System initiative provides cohesive, sustained, and focused engagement with public and private sector Financial Institutions and in coordination with regulators, to translate high-level principles into action and accelerate the scale and speed of transactions with project developers.
SEA GFS increases awareness and appreciation of the urgent financial and operational risk that climate changes poses to FI portfolios across Southeast Asia, including stranded fossil assets in the transition to a lower-carbon economy as well as physical impacts of climate change.
SEA GFS aims to accelerate the development of an investable green infrastructure project pipeline, including RE and EE projects, by addressing long and slow due diligence processes within banks as well as improving project readiness submissions among project developers.
SEA GFS encourages the increased development and issuance of green financial products such as green bonds, green loans, working capital for ESCOs, and consumer loans to enable widespread green technology adoption across Southeast Asia.
Banks and Financial Institutions
Building a Project Pipeline
Increasing Internal Capacity
Project Developer and Investors
Addressing Financing Gaps
Sharpening Project Readiness
Communicating Private Sector Feedback
Cascading Global Best Practices