PRESENTATION & PANEL: Regulatory developments and emerging market standards: does Asia need its own taxonomy?
- Presentation from the Monetary Authority of Singapore
- EU taxonomy in an Asian context – how is it relevant to Asia? Which aspects could be applied, and what are the implications for Asian markets?
- Does Asia need its own taxonomy? Examining country-specific taxonomies already in place or under development across the region: which standards are emerging and how can they support sustainable finance markets?
- To what extent can there be harmonisation across different jurisdictions?
- Regulatory responses to newly emerging products – striking the balance between over-regulation and maintaining market integrity
Gillian Tan, Executive Director, Financial Markets Development Department, Monetary Authority of Singapore
Mushtaq Kapasi, Managing Director and Chief Representative, Asia Pacific, International Capital Market Association (ICMA)
Satoshi Ikeda, Chief Sustainable Finance Officer, Financial Services Agency
PANEL: Central bank approaches to sustainability and climate risk in ASEAN markets
- Examining how Asian central banks are developing roadmaps for building sustainable financial systems, and the prospects for the creation of a regional roadmap
- Exploring and comparing approaches to climate risk and resilience
- To what extent should climate risk mitigation be mandated, or left to market forces?
Jeanne Stampe, Senior Fellow, SOAS University of London Centre for Sustainable Finance
Swisa Ariyapruchya, Deputy Director, Financial Institutions Strategy Department, Bank of Thailand
CASE STUDIES: Corporate issuer experiences - navigating pre- and post- issuance processes and challenges
- Sharing common challenges, pitfalls and best practices in areas such as:
- Quantifying the strategic value and cost benefit analysis of issuing a green, social or sustainable bond
- Building a green financing framework and aligning this with best practices
- Mainstreaming ESG into projects and day-to-day business
- Data gathering and reporting
- Repeat issuances
- Case studies of different issuances from a variety of Asian markets and industry sectors
Assaad W. Razzouk, Group Chief Executive Officer, Sindicatum Renewable Energy
Esther Ann, Chief Sustainability Officer, City Developments Limited (CDL)
PANEL: Investor perspectives on sustainable debt in Asian markets
- How are investors identifying investable bonds and loans?
- What are investors looking for in a green/social/sustainable bond or loan issuer?
- What level of "green-ness" are they aiming for?
- Challenges faced with issuers, such as weak governance, limited availability of data, lack of transparency
- How to maximise the yield of green debt
PANEL: Transition and sustainability-linked bonds and loans: what do they mean for the Asian market?
- How to define transition, where does it apply and to which sectors?
- What could transition bonds mean for Asian's brown economy?
- How to manage the risks of greenwashing, and expand market participation whilst maintaining market integrity?
- Investor perspectives on how to treat transition bonds within a portfolio, and how they see demand playing out
- How are Asian banks developing their own taxonomy and screening criteria for transition bonds and sustainability-linked products?
Sustainability-linked bonds and loans
- When might others set the example set by Enel, in developed and developing markets? What has been the pushback?
- Exploring the rise in sustainability-linked loans in Asia, and how these products are opening up the market to new issuers
- Comparing green/sustainability-linked loans with green/sustainability-linked bonds, such as materiality in KPIs, verification and compliance requirements
- How to set meaningful KPI targets, and what standards or guidelines are being developed to support these, globally and in Asia?
- With the rise in these new products, will the traditional use-of-proceeds model eventually become obsolete?
Rosamund Barker, Head of Legal, Asia Pacific Loan Market Association (APLA)
PANEL: Overcoming the challenges of ESG data and impact reporting
- Examining data challenges common to the Asian market, such as:
- Poor availability, consistency and accuracy of data
- Need for greater data transparency and disclosure
- Lack of correlation in ESG screening and rating methodologies
- To what extent are data issues a hindrance for sustainable investors in Asia?
- What moves are being made towards mainstreaming and standardising impact reporting?
- Exploring the growing demand for ESG data to measure corporate sustainability
PANEL – Call to Action: What more needs to be done by Asian financial markets to mitigate climate change?
- What are the ramifications of not taking more action to manage the effects of climate change?
- What more could be done at policy level, nationally or regionally?
- Could the creation of a carbon market in Asia incentivise the financial markets?
Naina Subberwal Batra, CEO, AVPN
Pratima Divgi, Director, CDP