MNCs' scaling back on ESG won't derail AsPac's march | Cai U. Ordinario - BusinessMirror

Summary

The article discusses the Asian Development Bank's (ADB) confidence in Asia-Pacific's resilience and commitment to climate change-related activities, despite multinational corporations scaling back on Environmental, Social, and Governance (ESG) efforts due to economic challenges. The ADB, through Ramesh Subramaniam, highlights past crises that the region, including Indonesia and the Philippines, has overcome and emphasizes continued cooperation on projects such as renewable energy. Concerns like the Philippines' National Grid Corporation red alerts underline the urgency for ramping up renewable capacity.