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The Global Green Finance Leadership Program (GFLP) 2022

November 29-December 01, 2022
World Bank, Sasana Kijang, Kuala Lumpur Malaysia
The Global Green Finance Leadership Program (GFLP) 2022

The Global Green Finance Leadership Program (GFLP) provides a platform for an in-depth regional dialogue on best practices, inspiring innovations, and the challenges of scaling-up sustainable finance. It builds on the global momentum created by United Nations Climate Change Conferences, COP27, and the G20 Leaders’ Summit, both taking place earlier in November 2022. The Program was launched by the Beijing’s Institute of Finance and Sustainability (BIFS) in collaboration with a few other China-based and international institutions in May 2018. Speakers are from diverse backgrounds and roles in the global financial sector community, representing countries in the region and more advanced economies. Participants in the previous editions of the GFLP were representatives from the international financial community, governments and regulatory authorities, academia, the private sector, and the development community more broadly. 

The World Bank Group Inclusive Growth and Sustainable Finance Hub in Malaysia will partner with BIFS to host the upcoming GFLP 2022 in Malaysia. Going with the theme, “Scaling-up Sustainable Finance in South-East Asia,” the main feature of this year’s GFLP is the launch of a Flagship Report on Sustainable Finance in Southeast Asia. The Program will build on the Flagship Report’s main findings and provide a platform for a discussion of a wide range of topics, from the challenges of developing the enabling policy environment for developing financial markets for sustainability in developing countries to innovative sustainable financial instruments and the role of the financial sector in helping firms and households build stronger resilience to climate-related and other environmental physical and transition risks. 



Arrival and Breakfast


Welcoming Remarks

Opening remarks: Martin Moloney [Recorded speechSecretary General, International Organization of Securities Commissions (IOSCO)




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]

Presentation by Dr. Tatiana Didier, Senior Economist, World Bank

Panel discussion

Moderator: Mohamed Rozani Mohamed Osman, Senior Financial Sector Specialist, World Bank



Coffee Break and Family Photo (Group Photo)



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.

Opening Remarks: Marcel Haag, Director Horizontal Policies, DG FISMA, European Commission [Recorded Speech]

Moderator: Madelena MohamedDirector, Sustainability Unit, Bank Negara Malaysia

Panel Discussion:

  • Charlotte Wolff-Bye, Vice President and Chief Sustainability Officer, PETRONAS [Presentation]
  • 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  [Presentation]


Lunch Break



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 LinDirector of the Centre for International Collaborations at the Beijing Institute of Finance and Sustainability

Panel Discussion:



Reflections by Participants and Roundtable Discussion


Coffee Break



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:


Reflections by Participants and Roundtable Discussion


23:00-24:00 MYT

10:00-11:00 EST




Session III B Sustainability Disclosure and Reporting Requirement          

[continues from Session IIIa]

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