APEC businesses propose new climate bonds, carbon credit network

TOKYO — Asia-Pacific business executives urged emerging economies in the region to issue climate bonds indexed to a basket of currencies, which would reduce the risk from foreign exchange fluctuation in raising funds for clean energy transition. The group of business executives comprising ABAC, which is APEC's Business Advisory Council, also proposed on Sunday launching a pilot program to develop a voluntary carbon market (VCM) for the Asia-Pacific region. "What we're trying to establish is an interoperable...