Climate philanthropy key to South-east Asia’s green transition
Many regional climate projects may not be able to draw commercial capital
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MORE climate philanthropy is needed in South-east Asia, to serve as a magnet for the private capital needed to fund the region’s green transition.
Such charitable giving does not have to be on the same grand scale of Patagonia’s founder donating his US$3 billion apparel company to a non-profit for the climate cause, or Jeff Bezos setting up a US$10 billion climate fund.
Instead, much smaller cheques can still make a difference. When aggregated, such funds can draw more private investors into climate projects – especially commercial investors that would not participate otherwise.
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