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Sustainable ExchangE Development Series: Thailand

December 7, 2021

Kuala Lumpur

  • Green and Sustainable economic recovery post-pandemic COVID-19 are the main agenda for countries, including the ASEAN region. The Climate Bond Initiative estimated that the issuance of green, social, and sustainability (GSS) bonds and loans in the ASEAN reached a record high of USD12.8bn in 2020, up slightly from the USD11.5bn issued in 2019. The cumulative issuance in ASEAN now stands at USD29.4bn. The ASEAN region also faces the consequences of climate change, from typhoons and tropical diseases to melting glaciers and rising oceans. Therefore, early climate action by the region is both in the global and the region’s own interest. Maximizing sustainable finance could be one of the best options to weather the storm.

    In support of the development of the sustainable finance market in the region, the World Bank Group will be organizing a series of webinars focused on the perspectives of countries under the Sustainable ExchangE Development Series (SEEDS) from October 2021 to January 2022. SEEDS is a series of webinars that will feature good policy and regulatory practices, as well as sustainable finance products and services, using a peer-to-peer format. The initial set of webinars will highlight key lessons in one country shared and discussed with regional audiences, followed by a panel session of peers from several other countries discussing these developments and their applicability within their own countries. The first 4 webinars in the series will cover Malaysia, Thailand, Indonesia and the Philippines, chosen based on dialogue with respective authorities. These “on the ground”, peer-to-peer knowledge exchange events can provide valuable and timely information to policymakers, allowing them to encourage further innovation within their own markets. 


  • 9.15-9.30

    • Ruenvadee Suwanmongkol, Secretary General, Securities and Exchange Commission (SEC), Thailand
    • Birgit Hansl, Country Manager for Thailand, World Bank Group















    SPECIAL SESSION: Digital Infrastructure (DIF) Project

    This session will present the development of a digital infrastructure for the capital market under the SEC sandbox which aims to connect all capital market participants and will cover all activities with the utilization of Distributed Ledger Technology (DLT) from upstream to downstream, end-to-end process and every capital market product (i.e. bond, investment unit or equity instrument). This project aims to transform entire capital market related activities from traditional operation (i.e. paperwork, and reconciliation) to fully adopted DLT-based operation using smart contract which enhances the overall efficiency for capital market services, minimize the need for reconciliation and manual data verification, reduce risk and cost across processes for related participants, enables greater transparency in business transaction, and also helps regulators to quickly detect and respond to market anomalies. In addition, this digital infrastructure is designed to be the backbone of capital market and available for all market participants to connect their services together (open architecture). Currently, there are 36 market participants (both issuers and intermediaries) joining the project under the SEC sandbox and developing their internal system to support the connection of the digital infrastructure. The first phase will be corporate bonds which plans to go live in 2022 and will then be further developed to support government bonds and other products. The presentation will cover the project objectives, intended outcomes, current progress, and lesson learn from project development.

    Presenter: Benja Supannakul, Principal, Financial Service Department, Baker & McKenzie Ltd.

    Presentation Slides


    PRESENTATION: Digital Bonds & Sustainable Sovereign Bonds

    The Royal Thai Government successfully issued the Sovereign Sustainability Bond in 2020 to facilitate environmental treat and social development. The action has been taken to reaffirm the government’s intention in working towards the UNSDGs goals in addressing climate and social issues. Upon the issuance, the bond has received an exceptionally strong demand from diversified group of investors. The bond also has been certified by the Climate Bonds Initiative (CBI) and received 6 awards from 5 institutions. Moreover, the Royal Thai Government also cooperated with the Luxembourg Stock Exchange (LGX) to list the Sustainability bond on the LGX in order to provide more ease of access to bond’s information for investors.

    Last year, the Royal Thai Government successfully launched 1 Baht Bond project for Savings Bond distribution. Unlike conventional bond investors, the 1 Baht Bond is aimed for retail investors with minimum investments as low as THB 100, by using hybrid blockchain technology to eliminate costly administrative procedures.  This initiative is a big milestone on inclusive and sustainable finance. This year, the 1 Baht Bond project has gone beyond to offer investors more convenient services e.g. e-withholding tax and e-tax summary on platform. Further, investors are able to pledge the bond via wallet as a letter of guarantee. All of these developments bring about increases in the savings bond distributions in remote areas at all ages.

    Presenter: Paroche Hutachareon, Senior Expert on Public Market Development, Public Debt Management Office (PDMO)

    Presentation Slides




    MODERATOR: Ratchada Anantavrasilpa, Senior Financial Sector Specialist, World Bank


    • Jarot Suroyo, Deputy Director, Integrated Financial Services Sector Policy Group, Otoritas Jasa Keuangan [Presentation Slides]
    • Krishnavenee Krishnan, Head of Strategic Innovation and Development, Bursa Malaysia
    • Catherine Casas, First Vice President and Blockchain Center of Excellence Head, Union Bank of the Philippines


  • DATE & TIME (BKK time): December 7 (Tuesday), 2021 at 9.15a.m. - 11.15 am