Asia Pacific

Without rapid action by governments to create an orderly transition, there may be an "ugly future" ahead and "disastrous consequences" for the financial sector, Legal & General Investment Management has warned (LGIM).

The Australian regulator has been urged to investigate ANZ over claims it misled investors on a climate resolution at its annual general meeting.

The ASEAN Taxonomy Board has included the early phase out of coal assets as a green or amber activity in the second version of its taxonomy - in what it claims is a first in any regional taxonomy.

Unclear sustainability reporting standards are proving to be a difficulty for small and medium-sized enterprises (SMEs), and stunting their ability to demonstrate success to investors, says DBS.

A consortium of Brookfield Renewable Partners, GIC, Temasek and MidOcean Energy, have agreed to acquire Australia's largest integrated power generator, Origin Energy, for AUD18.7 billion ($12.4 billion).

The Australian Sustainable Finance Institute (ASFI), the investor organisation leading the development of Australia's taxonomy, has published its final recommendations for a transition-based taxonomy.

Transition and physical risks are being assessed more by investors in Asia Pacific than any other region, Robeco has said.

The Monetary Authority of Singapore (MAS) has called for insurers to steer companies in the emissions intensive Asia-Pacific region towards more sustainable practices, as an executive warned insurers of high exposure to climate transition risks.

Australia's biggest superfunds have been accused of greenwashing by campaign group Market Forces, for failing to engage effectively with high emitters.

Mirova has raised $171 million in the first close of its clean energy transition fund which will invest in emerging markets across Africa and the Asia-Pacific region.

Companies and institutional investors in Australia are "drowning" in a flood of new sustainability requirements, ex-Principles for Responsible Investment (PRI) head Fiona Reynolds has said.