At the conference, speakers called for organisations from a wide range of sectors, be it business development or endowment funding, to work towards Asia-tailored solutions to better support the rise of the region. “We hope to work even more vigorously to unlock capital more effectively towards climate solutions”, adds Batra, as she looks forward to network members for ideas, projects, financing and in-kind support.
The need for environmentally and socially conscious investing has never come at a more important and critical time, especially in Asia. A recent study by British oil and gas company BP found that Asia accounted for 52% of global carbon dioxide emissions in 2021. This did not come without consequences, as the region continued to face some of the harshest effects of climate change globally, with over 57 million people in Asia last year severely affected by climate-related disasters.
This is compounded by a huge funding gap for climate action and sustainability efforts in the Asia Pacific region, considering the need of US$1.3 trillion ($1.7 trillion) for green financing in Southeast Asia alone. “Sustainability is at the core of Asia Venture Philanthropy Network’s (AVPN) mission,” says AVPN CEO Naina Batra, speaking at the non-profit incubator’s 2022 conference held in Bali from June 21 to 24 with the theme “The Asian Decade”.
