Overview
Meeting Name
3rd High-Level Meeting of the Asia GX Consortium: Toward Accelerating the Implementation of Transition Finance in ASEAN
Date of Event
October 23, 2026
Organizer
Asia GX Consortium
Location
Manila, Philippines
Key Participants
The Financial Services Agency; financial authorities from ASEAN countries, including the Philippine Securities and Exchange Commission; the Asian Development Bank (ADB); and financial institutions, among others. Special Advisor Inada participated on behalf of JICA.
Background and Objectives
The Asia GX Consortium (AGXC) is a framework for discussions among public and private sector stakeholders from Japan and ASEAN aimed at promoting transition finance in ASEAN.
To develop practical transition finance approaches tailored to regional conditions in Asia and facilitate project structuring, the consortium was established in October 2024 with the participation of the Financial Services Agency, ASEAN financial authorities, the Asian Development Bank (ADB), the Glasgow Financial Alliance (GFANZ), financial institutions, among others, to develop practical transition finance approaches tailored to regional conditions in Asia and to facilitate project structuring.
At this meeting, an annual report outlining the commonalities and gaps between ASEAN’s policy framework and Japan’s financial practices—as part of the 2026 initiative’s outcomes—and the “ASEAN Transition Plan Handbook” were presented. Participants also exchanged views on future initiatives aimed at further advancing transition finance in ASEAN.
Contents
At the meeting, discussions were held with financial institutions and investors on measures to implement and refine corporate transition plans and translate them into actual financing. Furthermore, to expand transition finance, participants highlighted the importance of utilizing policy frameworks tailored to each country’s circumstances, mobilizing funds through country-specific platforms and blended finance, extending support to small and medium-sized enterprises, and capacity building.
JICA pointed out that the next challenge is to translate the transition plan into concrete, investable projects and generate actual capital flows. As a concrete example of such efforts, JICA introduced the “Asia Transition Finance Promotion Project”—an overseas investment and financing project based on Singapore’s FAST-P Initiative—and emphasized the importance of utilizing public and development finance, including blended finance, to mitigate risks and mobilize private capital.
Going forward, JICA will continue to contribute to the implementation of transition finance and the mobilization of private capital in ASEAN through its participation in the AGXC, leveraging its expertise in development cooperation—including policy and institutional development, capacity building, and project development support—in addition to providing financial assistance.
© Source JICA