Climate philanthropy key to South-east Asia’s green transition

Many regional climate projects may not be able to draw commercial capital

Sharanya Pillai

Published Wed, May 1, 2024 · 05:00 AM

Clean energy infrastructure – solar and wind farms, hydropower plants and electricity grids – need to be developed urgently but come with steep price tags. PHOTO: PIXABAY

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.