APEC businesses propose new climate bonds, carbon credit network

FILE - North Dakota-based Red Trail Energy became the first ethanol plant to participate in the voluntary carbon markets earlier this year. Asia-Pacific business executives proposed launching a program in Asia on Aug. 4, 2024.

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.