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US businesses can play key role in ASEAN green transition

Businesses in the United States (US) can play an important role in channelling the critical investments, required expertise and technology transfer to ASEAN member states, in terms of promoting green transition.

This was said by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the meeting between ASEAN leaders and US business leaders at The Willard InterContinental, Washington DC, US on Thursday.

The minister said there is an opportunity to mobilise private capital to finance the initiative with ASEAN actively promoting a conducive ecosystem to attract sustainable investments and financing.

On energy, Dato Seri Setia Dr Awang Haji Mohd Amin Liew highlighted that ASEAN and US have embarked on initiatives such as the ASEAN-US Energy Cooperation Work Plan 2021-2025 and the ASEAN-US Climate Future Initiative.

He also said the ASEAN Comprehensive Recovery Framework (ACRF), adopted in 2020 at the 37th ASEAN Summit, emphasised on the importance of sustainable energy and the promotion of green growth to boost the region’s economy. The minister shared that ASEAN has introduced few initiatives to align the region’s capital markets with the sustainability agenda, such as the adoption of the ASEAN Green Bonds Standards and ASEAN Sustainability Bonds Standards and the endorsement of the regional taxonomy for sustainable finance.

The meeting discussed issues related to ASEAN-US post pandemic economic futures on energy, climate and digitalisation, and served as a platform to enhance cooperation between US business leaders and ASEAN public and private sectors.

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the meeting with ASEAN and US business leaders at The Willard InterContinental, Washington DC, United States. PHOTO: INFOFOTO
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