I read a report published by Asian Development Bank (ADB) that emphasizing the impact of climate changes in Southeast Asia. It seems an effort of picturing how climate change issues will change more countries in the region -just like Stern’s report.  The report urges policy makers to take some actions including investing more resources in climate adaptation and mitigation as well as raising awareness of climate change impacts and risks.

The reports clearly states the impact of climate change on the region and its evidences:

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A recent survey of forest carbon offsetting reveals that most buyers rated positive on the projects of avoided deforestation and ecological reforestation.  It about 90% of respondents consider these to be highly desirable or desirable.

The survey was involved 141 corporate participants throughout the world. They are participated in the carbon market during February 2009 and also purchased about 2.7 million carbon credits in 2008–including 850,000 offset from forestry sector. The survey conducted four organization including Ecosecurities, Conservation International,The Climate Community & Biodiversity Alliance (CCBA) and ClimateBiz.

The participants of the survey rated highest on community and environmental benefits generated from forestry projects as main motivators for purchasing forestry offsets (88%). Meanwhile, about 77% of  participants agree or strongly agree on the motivators of the scale of the deforestation and climate change problem. Looking for the area preferred by participants for forestry carbon offsets, about 78% participants see that South America were considered attractive.  Africa and Southeast Asia positively rated 71% and 69% respectively.

Why people and business entities should pay more attentions on avoided deforestation?  I try to wrap it here: (more…)

Islamic finance has an enduring appeal aftermath of a global financial crisis, says Muhammad Al-Jasser, governor of Saudi Arabian Monetary Agency (SAMA) at the Sixth Annual Summit of the Islamic Financial Services Board (IFSB) in Singapore last week.  The summit was attended by more than 250 Islamic financial services industry stakeholders from across the world.

His comment seems parallel with the speakers said at World Islamic Economic Forum (WIEF) held in Jakarta early this year. I noted that experts and practitioners of Islamic finance still have optimistic perspective on the development of Islamic finance industries, although the world’s struggle on global financial crisis is on the way.

More countries are affected by global financial crisis, including countries that addressing both conventional finance and Islamic finance. Currently, some countries are paying more attentions to Islamic finance and let the institutions grow.In response of global financial crisis, is there any need to revitalize Islamic financial services industry in the middle of reformation of global financial architecture?

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