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Mapping of Industry and Investment Standards and Principles to the ASEAN Guidelines for Promoting Responsible Investment in Food, Agriculture and Forestry (ASEAN RAI)
The ASEAN Guidelines for Promoting Responsible Investment in Food, Agriculture and Forestry (ASEAN RAI) contributes regionally specific guidance on food, agriculture and forestry investments to an existing landscape of voluntary sustainability standards and certifications. But the growing number and types of guidance in this landscape can be confusing for agribusiness and financial investors. Therefore, this report aims to clarify and highlight how 14 existing industry and investment standards and principles align with the ASEAN RAI. The report further shows the uptake of the above standards among 10 international banks. The report findings show that agribusiness or financial investors who are certified or signatories to many of the 14 standards reviewed, are also aligned with the ASEAN RAI. This alignment makes it easier for private sector investors to demonstrate their compliance to the voluntary ASEAN RAI, which are adopted formally by the ASEAN Ministers of Agriculture and Forestry. It further demonstrates how certifications or alignment to standards may help agribusinesses become more competitive and attractive to financiers, ultimately leading to more responsible investments in ASEAN.
This report was published by Grow Asia in October 2020 as part of the ASEAN RAI Action Plan Phase 1, with support from the Swiss Agency for Development and Cooperation (SDC).