With the effects of climate change becoming ever so eminent, and the voice for action to tackle climate change growing stronger, Asian banks have made notable strides in embedding Environmental, Social, and Governance principles - or ESG for short - into their operations.
According to WWF’s latest report, more banks across Asia are now recognising ESG risks and incorporating them into comprehensive risk management frameworks.
However, there are still key gaps in areas such as the lack of inclusion of marine and water-related risks into client requirements, as well as the lack of requirement for clients to develop climate-related mitigation plans and align their activities with the Paris Agreement.
On this episode of Eco Money, Prashanth Warrier, Vice President for Asia Sustainable Finance at WWF-Singapore shares his insights.
Presented by: Audrey Siek
Produced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)
Assistant Producer: Muhammad Nazirul Asrar
Photo credits: pixabay & its talented community of contributors
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