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LETTER | Collectively, Asean nations can achieve sustainable development
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LETTER | Former United Nations secretary-general Ban Ki-moon once said at the World Economic Forum in 2015 that we are the last generation that can take steps to avoid the worst impacts of climate change .
There are urgent calls to drastically reduce carbon emissions in order to address climate change immediately, particularly in Southeast Asia. Asean nations face the threat of climate change and environmental degradation, with fast-sinking cities such as Jakarta, Ho Chi Minh City, and Bangkok facing flooding problems.
Lloyd’s City Risk Index predicts that in the next decade, Southeast Asian nations will incur a US$22.5 billion GDP loss as a result of flooding.
KUALA LUMPUR (March 15): The Asean Capital Markets Forum (ACMF) has announced the rolling out of its new five-year action plan (2021-2025) which aims to foster growth and recovery with sustainability.
Two other strategic objectives of the plan are promoting and sustaining inclusiveness, and strengthening and maintaining orderliness and resilience.
ACMF, a grouping of capital market regulators from all 10 Asean jurisdictions, said in a statement today that the plan was endorsed during its 34th Chairs Meeting that was hosted virtually by Autoriti Monetari Brunei Darussalam.
To support the strategic objectives, ACMF stressed five key priorities, namely driving higher levels of transparency and disclosure, continuing with regulatory harmonisation, intensifying capacity building, amplifying communication and awareness building, and strengthening cooperation and coordination.