Tan Sri Azman Hashim (AICB) welcomed delegates to the summit and highlighted the key role that the banking and financial services industry plays in driving climate leadership.  

“In an era marked by unprecedented global challenges, the imperative for sustainable finance has never been more pronounced” ~ Omar Shaikh

Omar Shaikh (GEFI) welcomed delegates on behalf of GEFI.

Aries Poon (Director, Head of Asia-Pacific Insights and Analysis, S&P Global Market Intelligence) kicked off the summit with a fascinating Economic Outlook for the ASEAN region. 

“These new progressive policies will certainly accelerate sustainable finance projects not only in Malaysia but also across our ASEAN” ~ Mohammed Rashdan Mohd Yusof

Mohammed Rashdan Mohd Yusof (Energy Commission Malaysia) delivered the Opening Keynote, providing an overview of the current state of play as well as the challenges and opportunities in scaling up sustainable finance in the region..

“These assets will certainly be in the system for a very long time if there isn’t a concerted effort to find a financial mechanism to take these assets out of play” ~ Christopher de Vere Walker 

Christopher de Vere Walker (Carbon Tracker Initiative) introduced CTI’s Coal Country Profiles and highlighted the risks and opportunities associated with the transition. 

“The excuse that we often hear is the need for stable, affordable energy supply to an emerging nation…how do we provide more finance for transition, acknowledging this” “ – Matijn Hoogerwerf 

The panel was moderated by Dame Susan Rice (GEFI) and featured Amanah Aboobucker, CB (AmBank Group), Muhammad Rizal Azmi (Bursa Malaysia Berhad), Martijn Hoogerwerf (ING), and Helga Birgden (Mercer). 

“The financial sector is pivotal in steering the global economy towards inclusive and sustainable development especially in the ASEAN region” ~ H.E. Razan Al Mubarak 

UN Climate Change High-Level Champion, H.E. Razan Al Mubarak, provided a summary of finance-related outcomes from COP28 and outlined what financial institutions in ASEAN can do to support the transition.  

“The financial commitments and pledges at COP28 present opportunities that Malaysia can tap into towards realising our transition into net zero” ~ Azreen Idayu Zainal 

In a COP Fireside, Sagarika Chatterjee (UN Climate Champions), Azreen Idayu Zainal (Securities Commission Malaysia) and Dr John Murton (Standard Chartered) looked at the key COP28 outcomes for ASEAN from a climate finance perspective and expectations for COP29 in Baku. 

Session 2 opened with an update on UNEP FI’s initiatives delivered by Membership and Regional Co-ordination Manager, Maria Eugenia Sosa Taborda.

The Fireside on Greening Finance and Developing SME Resilience was moderated by Carl Chan (Accuracy) and included perspectives from Nurul Syaheedah Jes Izman (Pantas Climate Solutions), Moreen Joseph (UOBM, JC3), and Datin Dorph Peng (SME Association of Malaysia)

“The TNFD recommendations provides companies and financial institutions of all sizes with a risk management and disclosure framework to identify, access, manage and where appropriate disclose nature related issues” ~ Candice Dott

Candice Dott (Taskforce for Nature-related Financial Disclosure) introduced the TNFD recommendations and its ‘LEAP’ approach.

“The companies which have been identified by financial markets to have a large impact on nature, none of them are signed up to voluntary initiatives such as the TNFD or the SBTN” ~ Nicole Kozlowski

Nicole Kozlowski (Planet Tracker) introduced Planet Tracker’s Nature Scorecard.

“Investors need to get out there, into the field, on the ground, in the places and communities where these nature based solutions will be delivered” ~ Andy Turnbull

The panel was be moderated by Laura Canas da Costa (UNEP FI) with insights shared by Satya Tripathi (Global Alliance for a Sustainable Planet),  Andy Turnbull (Federated Hermes), Datuk Jeffri Abd Rasid (Malaysia Forest Fund), and Jurgita Balaisyte (MSCI). 

“Tayyib refers to something that is pure, clean or wholesome and what that means for the Islamic finance ESG market is transcending from the tick box of just halal to looking at where the products are holistically evaluated against its contribution to society” ~ Shereen Osman

This fireside considered the fast emerging Islamic sustainable finance movement, and heard from Omar Shaikh (GEFI), Shereen Osman (PwC Middle East) and Salman Siddiqui (Jupiter Asset Management).

“There’s no doubt that we are amidst very positive momentum within the sector” ~ Stella Cox

The second fireside involved Stella Cox CBE (Managing Director, DDCAP Group), Shrey Kohli (Head of Debt Capital Markets, London Stock Exchange Group), and Raja Amir Shah Raja Azwa (CEO, HSBC Amanah), to discuss the role of Green Sukuk for Climate Action.

“If we are to plug the few financing gaps for the SDGs including for the ASEAN countries, we need to ramp up efforts to strengthen alignment of the financial and capital markets with universal values such as environmental stewardship, social responsibility, integrity, collaboration, and building resilience” ~ Dr Zamir Iqbal

The Summit concluded with a Closing Keynote from Dr Zamir Iqbal (Islamic Development Bank), who looked at the role Islamic finance can play to help drive green economic growth in the ASEAN region.