Promoting Local Currency Sustainable Finance in ASEAN+3

<p>This report provides an update on the local currency sustainable bond markets in the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China Japan and the Republic of Korea (ASEAN+3).</p><p><br></p><p>Historically green bonds have dominated the sustainable debt market in ASEAN+3 but the coronavirus disease (COVID-19) pandemic has spawned the next generation of social- and sustainability-labeled instruments to fund a broader range of environmental and social benefits. This report provides a comprehensive summary of regional developments identifies existing obstacles and challenges highlights green investment opportunities in key sectors and offers practical recommendations to further develop sustainable local currency bond markets in ASEAN+3. </p>