Are ASEAN banks ignoring climate change?
ASEAN banks are not doing enough to tackle climate change and environmental degradation. Largely unaware of the climate-related risks embedded in their portfolios, most of them do not have a strategy to manage these risks.Despite being home to some of the world’s largest deforestation hotspots such as the Greater Mekong, Sumatra and Borneo, only nine percent of regional banks in a recent study were found to have no deforestation policies – putting their reputations on the line by ass