Major Asian economies like India and China require more than $7 trillion investment to meet the goal of limiting global warming to 2 degree Celsius .

Asia Investor Group on Climate change (AIGCC) , launched an initiative to create awareness among Asia's finance sector about climate risks and opportunities, the study reviewed the disclosure of top financial institutions across the region.

Many nations across the region are investing in policy framework and commitments necessary to drive investment into climate solutions. However, much remains to be done , said the reports.

"We know that between 2014 and 2035, $7.7 trillion is needed for renewable energy and energy efficiency to meet the demands of China, India, Japan, and South East Asia if the world is to meet a 2 degrees Celsius warming target," said Emma Herd, CEO of the Investor Group on Climate Change.

The reports also said that the physical effects of climate change have only worsened and new policies and regulations are trying to rebalance the playing field towards low carbon economies and away from high carbon economies.