Abbreviations 3

Glossary of Key Terms 4

I. Introduction 7

II. Definitions and Theoretical Foundation 10

III. Review of Related Academic Literature 14

IV. Sustainable Finance Landscape in ASEAN+3 19

V. Data Definitions and Initial Analysis of Variables 23

VI. Empirical Approach: Fixed Effects Panel Regression Analysis 28

VII. Results and Discussions 32

VIII. Conclusion 42

IX. Future Research 43

X. Policy Implications 44

References 45

Appendix A: Climate Change Dashboard—Tables and Charts 49

Appendix B: Detailed Discussion of the Theoretical Foundation 51

Appendix C: Detailed Discussion of the Integrated Conceptual Framework with Country

Examples 56

Appendix D: Three-Stage Robustness Strategy 62