08:00-09:00 | Arrival and Breakfast |
09:00-10:00 | Welcoming Remarks Dr. Manuela V. Ferro Regional Vice President for East Asia and Pacific, World Bank Dr. Ma Jun President, Beijing Institute of Finance and Sustainability H.E. Charles Hay MVO British High Commissioner to Malaysia Opening remarks Martin Moloney Secretary General, International Organization of Securities Commissions (IOSCO) Keynote Tang Dingding Honorary Chairman, Green Trade and Investment Committee, Chinese Society of Environmental Sciences YBhg Dato' Seri Dr. Awang Adek Haji Hussin Chairman, Securities Commission of Malaysia |
10:00-11:15 | Report Launch: Unleashing Sustainable Finance in South-East Asia The World Bank and the Institute of Finance and Sustainability have prepared the report on Sustainable Finance in Southeast Asia to help identify challenges and opportunities for different stakeholders in scaling up sustainable finance in the region, including governments, financial institutions and so on. This report provides a snapshot of the state of sustainable finance in 5 ASEAN countries as a basis for further discussion. In order to scale up the impact and foster knowledge sharing of sustainable finance in and beyond SEA, this session invites policy makers and regulatory authorities from the ASEAN states and other stakeholders globally to discuss and provide valuable suggestions on how Southeast Asia could move towards a sustainable future. [DOWNLOAD REPORT] Presentation by Dr. Tatiana Didier, Senior Economist, World Bank Panel discussion Moderator: Mohamed Rozani Mohamed Osman, Senior Financial Sector Specialist, World Bank Discussants: Dr. Ma Jun, President, Beijing Institute of Finance and Sustainability Tayakorn Jitrakuldhacha, Director, Bond Department, Securities and Exchange Commission Thailand Chuchi G. Fonacier, Deputy Governor, Bangko Sentral ng Pilipinas Aigul Kussaliyeva, Managing Director, AIFC Green Finance Centre, Kazakhstan Gillian Tan, Assistant Managing Director and Chief Sustainability Officer, Monetary Authority of Singapore Ricardo Eyer Harris, Chief of Staff of the Deputy Governor’s Office, Banco Central do Brasil |
11:15-11:45 | Coffee Break and Family Photo (Group Photo) |
11:45-13:00 | Session I: Financing a Just Transition Policy makers should play close attention to those firms that may be negatively impacted by the economic transition toward greater sustainability, especially high GHG-emitting firms, such as those in the coal and oil sectors. Constrained access to finance for these firms, in turn, could create sizeable economic inefficiencies, especially in countries in which high GHG-emitting sectors represent a large share of the economic activity. Access to financing for these high CO2 emitting firms that seek to transition to greener, low-carbon activities—dubbed transition finance—is thus important for a smooth transition toward more sustainable practices. The invited speakers will share their views on a key question for developing transition finance: how to support access to finance for these high emitting firms, while mitigating investor risks related to stranded assets and green washing. They will also share their insights on global trends, relevant country practices, and regulatory challenges of developing transition finance, including the role of taxonomies. Recorded remarks: Marcel Haag Director Horizontal Policies, DG FISMA, European Commission Moderator: Madelena Mohamed, Director, Sustainability Unit, Bank Negara Malaysia Panel Discussion: Charlotte Wolff-Bye, Vice President and Chief Sustainability Officer, PETRONAS Joko Tri Haryanto, Senior Analyst at the Centre for Climate Finance and Multilateral Policy (PKPPIM), BKF Ministry of Finance, Indonesia Aaron Levine, Senior Operations Officer, World Bank Group-IFC Eliki Boletawa, Director, Policy Programs and Implementation, Alliance for Financial Inclusion Prof. Ulrich Volz, Professor of Economics and Director of the Centre for Sustainable Finance at SOAS, University of London |
13:00-14:00 | Lunch Break |
14:00-15:15 | Session II Taxonomies and principles in support of climate transition The ASEAN Taxonomy for Sustainable Finance was released on November 2021, providing a common language for sustainable finance among the ten ASEAN Member States. The ASEAN Taxonomy has been considered as a necessary and timely green and sustainability development progress in the region. In the meantime, voices have been heard in different markets and jurisdictions to enhance comparability and interoperability among different taxonomies or standards to reduce the risk of greenwashing, such as for cross-border capital flows. China and the EU worked under the IPSF and launched the Common Ground Taxonomy (CGT) based on a comprehensive and detailed comparison between China's green bond taxonomy and the EU’s Sustainable Finance Taxonomy, with an aim to enhance comparability and interoperability between the two taxonomies. This session will invite experts to share their thoughts on taxonomies and principles and their roles to support the global efforts of climate transition. Moderator: Cheng Lin, Director of the Centre for International Collaborations at the Beijing Institute of Finance and Sustainability Panel Discussion: Eugene Wong, Sustainable Finance Institute, Singapore Aigul Kussaliyeva, Managing Director, AIFC Green Finance Centre, Kazakhstan Nomindari Enkhtur, CEO, Mongolia Sustainable Finance Association Kelvin Lester K. Lee, Commissioner, Securities Commission of the Philippines Mushtaq Kapasi, Managing Director, Chief Representative Asia-Pacific, ICMA |
15:15-16:00 | Reflections by Participants and Roundtable Discussion |
16:00-16:30 | Coffee Break |
16:30-17:45 | Session III A Sustainability Disclosure and Reporting Requirements Enhanced sustainability disclosures and reporting standards are the cornerstone for further development of the global sustainable finance markets, including those in the Southeast Asia region. As highlighted in the report on Sustainable Finance in South-East Asia, they not only improve market transparency, but also support the decision-making processes of financial market participants and enterprises in the real economy. With more jurisdictions ramp up environmental regulation in the race to net zero, financial institutions and corporates are also asked to transition their balance sheet to a low-carbon and green one, including through the development of transition financing tools. While the debate on transition finance goes on, the discussion on sustainability disclosure also gains attractions. This session will invite both regulators and relevant standard setters to share their insights on sustainability reporting and how they could help stakeholders better embark on a sustainable trajectory. Moderator: Stuart Yikona, Program Manager, Seoul Center, World Bank Panel Discussion: YBhg Datuk Wira Ismitz Matthew De Alwis, Chair, Malaysian Association of Asset Managers/CEO, Kenanga Investors Berhad YBhg Datin Seri Sunita Rajakumar, Chairperson and Founder, Climate Governance Malaysia Dr. Qu Kang, Managing Director of Sustainability Strategy, Bank of China Hong Kong Luanne Sieh, Senior Managing Director, Head of Group Sustainability, CIMB Group Michael Sheren, President and Chief Strategy Officer, MetaVerse Green Exchange (MVGX) |
17:45-18:30 | Reflections by Participants and Roundtable Discussion |
23:00-24:00 MYT 10:00-11:00 EST Webex Webinar | Session III B Sustainability Disclosure and Reporting Requirement [continues from Session IIIa] [RECORDING HERE] Opening remarks: Jean Pesme, Global Director, Finance in the Finance, Competitiveness & Innovation (FCI) Global Practice, World Bank Moderator: Sean Kidney, CEO of Climate Bonds Initiative Panel Discussion: Hua Jingdong, Vice Chair, International Sustainability Standards Board (ISSB) Mariana Escobar, Advisor to the Financial Superintendent of Colombia and Head of the Sustainable Finance Hub, Financial Superintendence of Colombia Francisco Avendano, Senior Operations Officer, Climate Business, IFC |
