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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

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)



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




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.


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


Panel discussion

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



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



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.


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



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 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



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:

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)


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