Philippine President Ferdinand Marcos Jr called on ASEAN bloc members to ensure regional energy security and resilience, as he opened the 48th ASEAN Summit Retreat in Cebu on 8 May.
Oil pollution spreading across the Persian Gulf following recent military strikes around Iran is now visible from space, prompting urgent warnings from experts that the situation could escalate into a major environmental disaster if not contained quickly, according to The Climate Watch, an independent portal providing in-depth coverage of climate change, environment, biodiversity, wildlife, nature conservation, and sustainability issues, with a particular focus on South Asia.
Evidence of oil pollution was found near the coast of Kuwait in early April, with Iran's Islamic Revolutionary Guard Corps claiming it had targeted energy and petrochemical facilities across the region in retaliatory attacks.
The Insurers Federation of Egypt (IFE) has advocated for the development of a broader range of sustainable insurance products that meet environmental, social, and governance (ESG) standards.
More than CNY270bn ($37bn) of China's high-risk energy storage assets lack effective insurance protection, according to a white paper jointly released by Generali China and Fudan University late last year. This gap is growing by roughly CNY160bn annually.
More than 70 organisations from over 20 countries across six continents have urged the biggest global insurance and reinsurance groups to stop providing insurance for fossil fuel projects and fossil gas expansion in Southeast Asia's Coral Triangle. These pose significant risks to the most biodiverse marine area on Earth.
The petroleum supply shock from the Iran-US War looks likely to cost global GDP growth about 0.5% - 0.6% with potential losses rising the longer the Strait of Hormuz remains effectively closed, said Eastspring Investments in its quarterly outlook report.
The current energy crisis has been a powerful catalyst for change across Southeast Asia. Price volatility and supply disruptions have underscored two structural vulnerabilities in the region's energy systems - an over-reliance on imported fossil fuels, and insufficient resilience in fuel procurement and energy infrastructure.
The Insurers Federation of Egypt (IFE) is working to broaden the scope of sustainable insurance and advance insurance inclusion, with the aim of ensuring that all citizens have access to insurance services through a range of targeted initiatives.
While Gen Z leads in sustainability awareness, older Singaporeans are more consistent in taking sustainability-related action in daily life, according to a recent survey.