Asia’s central banks ‘must do more to fight climate change’

IMF paper calls on financial institutions to improve disclosure standards and risk analysis

climate change heat

IMF research says Asia-Pacific’s emerging economies face a shortfall in investment aimed at tackling climate change, and calls on central banks and regulators to do more to address the issue.

The research estimates that the region’s emerging and developing economies will need at least $1.1 trillion a year to address climate risks. This will include building infrastructure for cleaner energy sources.

However, the countries only receive $333 billion annually, mostly from sustainable debt instruments

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