Green Finance Strategies for Post-COVID-19 Economic Recovery in Southeast Asia: Greening Recoveries for Planet and People
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Green Finance Strategies for Post-COVID-19 Economic Recovery in Southeast Asia - Asian Development Bank
GREEN FINANCE STRATEGIES FOR POST-COVID-19 ECONOMIC RECOVERY IN SOUTHEAST ASIA
GREENING RECOVERIES FOR PEOPLE AND PLANET
OCTOBER 2020
Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)
© 2020 Asian Development Bank
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Tel +63 2 8632 4444; Fax +63 2 8636 2444
www.adb.org
Some rights reserved. Published in 2020.
ISBN 978-92-9262-380-7 (print); 978-92-9262-381-4 (electronic); 978-92-9262-382-1 (ebook)
Publication Stock No. TCS200267-2
DOI: http://dx.doi.org/10.22617/TCS200267-2
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Cover design by Edith Creus.
Left side from top to bottom: Essential food packs provided to the most vulnerable households under Bayan Bayanihan program (photo by Eric Sales/ADB); President Masa Asakawa visiting ADB-supported slum upgrading and green infrastructure projects in Makassar City, South Sulawesi, Indonesia on 2 March 2020 (Photo by Ariel Javellana/ADB); Philippine Army soldiers distribute food packs to residents of Barangay Hulong Duhat in Malabon City, Metro Manila (photo by Veejay Villafranca/ADB);
Center photos from top to bottom: Fishermen exploring the waters for a catch in Malekula, Vanuatu (photo by Eric Sales/ADB); Plants along the shores of East Tanjung PInang, capital of Riau Islands Province, Indonesia (Eric Sales/ADB); Biodiversity Corridor project for the preservation of the Bidoup Nui Ba National Park (photo by Lester Ledesma/ADB).
Right side from top to bottom: Burgos Wind Farm seen in the background in Ilocos Norte, Philippines (photo by Al Benavente/ADB); BTS Skytrain at the heart of Bangkok’s commercial and business neighborhood (photo by Lester Ledesma/ADB); Solar panels and turbines at the Burgos Wind and Solar Farm in Burgos, Ilocos Norte in the Philippines (photo by Al Benavente/ADB).
Contents
Figures and Boxes
Foreword
Governments across Asia have deployed a significant amount of emergency capital in response to the coronavirus disease (COVID-19) pandemic, with an initial focus on protecting lives and livelihoods. The next stage of the crisis will require governments to prepare long-term recovery and stimulus packages to support economic growth and employment security.
These plans will need to carefully factor in existing vulnerabilities in developing member countries, now further exacerbated by COVID-19 impacts. Countries in developing Asia were already facing the triple threats of climate change, biodiversity loss, and declining ocean health before the pandemic. In many major Asian cities, air pollution and water scarcity are already highly visible. Coastal populations, especially along Southeast Asia’s long coastlines, are increasingly vulnerable to sea level rise and increasingly frequent typhoons. The linkage between health impacts, natural disasters, pandemics such as COVID-19, and changes in the climate, oceans, and forests is becoming more evident. An example is greater human incursion into animal habitats, creating a higher risk of animal viruses infecting humans.
Within