Southeast Asia Weighs Benchmarks for $3 Trillion Green Financing

(Bloomberg) — The Association of Southeast Asian Nations is seeking to establish a framework for green investments in the region that could be worth as much as $3 trillion. The countries set up the Asean Taxonomy board this week, which will develop and maintain a set of categories and definitions to guide its members on sustainable economic activities, according to a statement on Tuesday. The region is joining Europe in devising benchmarks for green investments to meet the targets of the Paris Agreement. As global pressure mounts to drastically cut carbon output to stave off climate change, governments and corporations…