The U.S.-led Indo-Pacific Economic Framework is hosting a ministerial meeting in Singapore, where major companies are gathering for a “Clean Economy” investor forum to drive infrastructure and climate investments in the region. This marks the first in-person session since the conclusion of negotiations for the Clean Economy Agreement and the Fair Economy Agreement in November. U.S. Commerce Secretary Gina Raimondo stated that the countries will outline steps under these agreements this week.
The Clean Economy Investor Forum includes prominent U.S. companies like Amazon, Google, Microsoft, and BlackRock, alongside Australian and Japanese investors. Raimondo emphasized the importance of implementing deals and investments in the clean economy within the IPEF countries.
The forum will showcase top clean economy projects, focusing on renewable energy, infrastructure, transportation, and mobility. Raimondo aims for multibillion-dollar investments in countries like Thailand and Malaysia to support their climate-related infrastructure and achieve their climate goals.
The “Fair Economy” agreement targets corruption and tax evasion, with countries detailing anti-corruption pledges and tax transparency measures during the meeting. This collaborative effort within the IPEF involving countries like Australia, India, Japan, and the United States seeks to bring capital and expertise to drive sustainable development in the region.
© Thomson Reuters 2024.