APEC businesses propose new climate bonds carbon credit network
Asia-Pacific business executives urged emerging economies in the region to issue climate bonds indexed to carbon credits
The APEC Business Advisory Council (ABAC) concluded its meeting in Tokyo this week calling for decisive action on climate change
The group of business executives comprising the Asia-Pacific Economic Cooperation (APEC) business advisory council (ABAC) concluded its meeting in Tokyo this week, calling for decisive action on climate change.
ABAC proposed the creation of a new climate bonds and carbon credit network to help emerging economies in the region finance green projects and reduce their carbon emissions.
The network would allow businesses to issue climate bonds that are indexed to carbon credits, which can be used to offset their emissions.
This would provide a new source of financing for green projects and help to reduce the cost of carbon emissions for businesses.
ABAC also called for governments to adopt more ambitious climate policies and to provide incentives for businesses to invest in green technologies.
The group said that climate change is a serious threat to the region's economy and that action is needed now to mitigate its effects.
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