Cambodia, Indonesia, Laos, and Vietnam have "highly negative" exposures to physical climate risks while the exposure of the Philippines is "very highly negative," Moody's Investors Service says. In a report released in Singapore on Monday, the US credit rating agency also said that physical climate risks were "moderately negative" in Malaysia, Singapore, and Thailand. Despite big exposures to physical climate risks across Southeast Asia, Moody's said exposures to carbon transition risks were "neutral-to-low" in the near term in most of the eight ASEAN economies. The report said ASEAN economies were "making some headway" in enacting climate policies and taking action. In the case of Cambodia, the report noted that the country was aiming for solar, hydro, biomass, and other forms of renewable energy to account for 35 percent of power generation by 2050. (Source: Khmer Times)

 

Economy & Industry

04th October 2022

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