Sixty percent of APAC executives agree that geopolitics is driving a slowdown in their organisation's sustainability investments/projects, according to a global report by The Capgemini Research Institute.
Prudential plc has committed up to $150m to a climate-focused strategy managed by global investment firm KKR, which seeks to make infrastructure equity investments in Asia focused on the energy transition, including climate adaptation, climate mitigation and the brown-to-green transition.
The Ministry of Economy and Finance, Bank Al-Maghrib (BAM), the Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Capital Market Authority (AMMC) have adopted a new strategy for the development of climate finance by 2030.
Current resource allocation for mitigating climate shocks is inefficient, according to Mr Luis Alton, senior financial-sector specialist at the World Bank's Disaster Risk Financing and Insurance Programme.
The Insurance and Pension Commission (IPEC) plans to issue a sustainability guideline for insurers and pension funds in 2025,a move that it says will be a strategic milestone for next year.
Organisations covered in a survey in the Asia Pacific region are still in the early stages of integrating sustainability into their core business operations, with only 21% having a truly strategic approach to sustainability, according to a white paper released by IBM, in collaboration with research and advisory company Ecosystm.
The State Council, which is China's Cabinet, issued guidelines titled "Opinion on Accelerating the Comprehensive Green Transformation of Economic and Social Development" on 11 August.
The green insurance premium income of Ping An Insurance (Group) Company of China amounted to CNY37.3bn ($5.2bn) for the 2023 financial year, nearly 49% higher than in 2022.
The attitudes of high-net-worth individuals (HNWI) have changed over the past few years, driven by economic and social changes, with many of the younger generation putting an increased focus on ESG and sustainable investing. Asia Insurance Review spoke to Transamerica Life Bermuda's Jeremy Young on how the market has changed and how it has affected their business.
Increased risk from Nat CAT, as triggered by climate change, is set to complicate "an already intricate business risk landscape", according to WTW's Natural Catastrophe Review: Expert insights, lessons learned and outlook, published earlier in July.