More tie-ups between public, private and philanthropic sectors needed to advance Asia's green agenda: Experts

With their different interests and funding appetites, they can each play a key role

- Audrey Tan Assistant News Editor

The Asean power grid will connect the electricity grids of the countries in the region, enabling them to share renewable energy resources, stabilise their power systems, and create a reliable and efficient regional energy system that can drive economic growth.

But the development of such a powerful regional energy network is still in its early stages. A lack of coherent vision of what it would look like could also prevent investments from going to where they are needed, said one sustainable finance expert on Sept 23.

Without such a regional vision, it could be difficult for the private sector to get involved, said Columbia Centre on Sustainable Investment director Lisa Sachs.

She was speaking at an hour-long roundtable discussion on Sept 23 organised by the Temasek Trust-backed Philanthropy Asia Alliance (PAA) during New York Climate Week.

The need for a broader vision so progress can be made in the regional power grid was an example she cited of how there needs to be more partnerships between the public, private and philanthropic sectors, if Asia is to do more in tackling climate change and protecting nature.

The event ended with the consensus that the various groups, with their different interests and funding appetites, need to work together to accelerate progress on the region’s green transition.

Over 70 people from global philanthropic organisations, academia, governments and the private sector gathered at the Knickerbocker Hotel in Times Square to discuss how Asia can make more headway in sustainability.

The event, also attended by Temasek Trust chief executive Desmond Kuek, gave all attendees the opportunity to speak.

Moderated by Straits Times editor Jaime Ho and Mr Yash Divadkar from PAA’s partnerships team, it was one of only a handful of Climate Week events that focused on the situation in Asia.