Moody’s says Cambodia among four ASEAN economies with ‘Highly Negative’ exposures to physical climate risks

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 Monday, the US credit rating agency also said that physical climate risks were “moderately negative” in Malaysia, Singapore and Thailand. Assessments of the two other ASEAN economies – Brunei and Myanmar – were not available.

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. “We expect slow policy implementation of decarbonisation, delaying transition costs for this high-growth region to the future,” it said. The report said ASEAN economies were “making some headway” in enacting climate policies and taking action.
 

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