Singapore
2022
September 21, 2022
Hybrid | Four Seasons, Singapore
September 21, 2022
Hybrid | Four Seasons, Singapore
Virtual (Free)
The world as we know it has entered an era of unprecedented uncertainty and fragility. From the Covid-19 pandemic to the war in Ukraine and the climate crisis, these major macroeconomic forces have thwarted progress on the Global Goals and nowhere is this more evident than in Asia.
The latest UN report on the Sustainable Development Goals — a collection of 17 interlinked targets adopted by all nations for a more sustainable future by 2030 — revealed that Covid-19 and the continued regression on climate action and resource use have caused the biggest slowdown in pace since the targets were set in 2015. Southeast Asia and the Pacific are particularly lagging.
Amid a diverging geopolitical landscape marked by rising energy prices, higher inflation, slower growth and increasing commodity prices, the role of sustainable finance in securing a sustainable and equitable future is more important than ever.
The 2022 Financing for Sustainable Development report by the United Nations identifies a “great finance divide” as a key driver of divergent recoveries: while developed countries were able to borrow at record-low interest rates to support economies, developing countries were limited by fiscal constraints, further exacerbating inequalities.
Meanwhile, the world faces a growing triple planetary crisis – climate, nature, and pollution — which underlines the urgent need to align all financing flows with sustainable development, and to achieve the shared goals of a greener, more inclusive and resilient recovery.
Themed ‘The role of sustainable finance in a disrupted world’, Unlocking capital for sustainability 2022 will convene its annual meeting of leading minds and actors from across government, financial institutions, business and civic society to discuss specific actions to progress sustainable finance in this region and beyond.
This year’s forum will feature four regional virtual dialogues spanning Malaysia, Indonesia, Philippines and India, and culminates in a two-day hybrid event held in Singapore.
8:30
Breakfast briefing: Innovations and investible opportunities in recycled plastics
Speakers
Moderators
9:45
Welcome remarks
10:00
10:15
10:30
Opening plenary – Responsible investing in the age of disruption
Responsible investing — integrating environment, social and governance factors into the allocation of capital — has been on a phenomenal rise globally. For three-quarters of global investors, it has become central to investment policies, with Europe being the leading player.
But along with its growth — complicated by a macroeconomic environment of rising geopolitical tensions and supply chain shocks — criticisms of greenwashing are mounting and the ESG investing approach is under siege. Governments across the world are raising regulatory standards in response, with Asia catching up. China and Asean countries are developing taxonomies and standards for sustainable finance, while investors are grappling with an ever-changing landscape.
What is the future of responsible investing in this region? What are the challenges in channelling all types of capital into financing the transition to a sustainable economy? Is responsible asset ownership working in reality? This panel will convene leading minds to discuss the gaps in Asia’s financial landscape and key actions to accelerate — and raise standards of — responsible investing.
Speakers
11:20
Plenary #2 - ESG integration and valuation: A new era
Globally, investors and financial institutions are increasingly applying ESG considerations as part of their analysis to identify risks and growth opportunities. In a post-Covid world, integrating ESG into financial decision-making processes is only expected to increase, and studies have shown that companies with high ESG ratings held up better than their competitors during the crisis.
But ESG integration continues to be problematic — standards are still emerging, and the financial industry has been called out for greenwashing. ESG ratings, issued by ratings agencies to evaluate the ESG performance of companies, are also criticised for inconsistencies and its lack of transparency. Currently, there are more than 100 ESG rating agencies with different methodologies producing wide ranging results.
Where does Asia stand amid this landscape of emerging standards? How can the ecosystem converge on a set of credible methods to process and rate ESG data and performance? This panel explores how best practices in ESG integration and valuation can accelerate sustainable finance, and how such methodologies can facilitate the flow of capital into credible projects with robust ESG outcomes.
12:10
Fireside chat - Forging a common taxonomy: Asia’s green growth story
12:40
Networking lunch
Speakers
Moderators
14:00
Plenary debate - Carbon tunnel syndrome: This house believes carbon markets are the answer to our climate crisis
For decades, carbon markets have been seen as part of the solution to the climate crisis — but it has also been dogged by controversy ranging from fake credits to double counting or loopholes in regulation as seen in the Kyoto Protocol's carbon credit scheme.
In recent years, money has been pouring into carbon markets as climate ambition picks up. The value of traded global markets for carbon dioxide (CO2) permits grew by 164 per cent to a record US$851 billion last year. Meanwhile, governments are starting to implement their own carbon trading and tax systems in a bid to meet their Paris Agreement commitments.
Detractors have pointed out that carbon markets can be ineffective in fighting climate change, demanding that tighter regulation be mandated to prevent nations and organisations to continue polluting at home without taking serious action. Others highlight the risks of using a market system to offset emissions in the first place, as the priority should be to reduce emissions to zero as much as possible.
Despite the obstacles, many view carbon markets as a necessary part of international cooperation on climate change, as such offsetting methods are flexible and improve the cost-effectiveness of climate action. This debate will provide a thorough examination of the role of carbon markets in the transition to net zero.
14:50
Plenary #3 - Financing the net zero transition: Opportunities and pitfalls
The Intergovernmental Panel on Climate Change's recent stock take of global emissions warned that we are nowhere near close to limiting global warming to under 1.5 degrees Celsius by 2050. Without immediate and deep emissions reductions across all sectors, this threshold is beyond reach within the timeframe.
While climate action has gained momentum globally, it is not growing at the desired pace. Net zero pledges cover some 90 per cent of global GDP today, but the road ahead is fraught with challenges, disrupted by global events such as Covid-19, the war in Ukraine and the wider structural problems around financing.
Experts estimate that about US$50 trillion in investments is required by 2050 to transition the global economy to net zero, but the funding is falling short due to lack of collective effort from the global community. Regressive government regulations are huge barriers, with many countries still providing fossil fuel subsidies, and while research and development into newer green technologies is urgently needed, many investors fear that early movers may suffer losses from technological obsolescence.
Despite the risks and pitfalls, this transition offers us the investment opportunity of our generation. A recent Asian Development Bank report estimates that a green recovery from the Covid-19 pandemic in the Southeast Asia region has the potential to create US$172 billion in investment opportunities annually and generate more than 30 million jobs by 2030. Furthermore, Bloomberg estimates that renewable energy will account for over 55% of the global total installed capacity by 2030 and 74% by 2050. In this discussion, we will explore specific actions to overcome the obstacles in the net zero transition and highlight potential areas for investment.
Speakers
Moderators
15:40
Forum break
Speakers
Moderators
16:00
Closing plenary - Mainstreaming impact investing to achieve the SDGs
Asia Pacific has significantly regressed on their Sustainable Development Goals (SDG) targets, a new UN report has found. The region has retreated on actions related to climate change and responsible consumption and production, with inequality in the region further widening due to impact of the COVID-19 pandemic. The region is now expected to achieve the SDGs by 2065, some 35 years behind its original plan.
Investors are urgently needed to fill financing gaps across the region to foster sustainable cities, support the energy transition and address issues of human health and resource consumption. In response, impact investing – where funds are deployed to achieve both financial return and impact – has been on the rise in the region.
However, key obstacles remain. Investors are grappling with a common language to define impact, there is limited regulatory support and the entrepreneurship ecosystem still nascent. Family offices in the region practicing impact investing are few and far between.
How can we unlock private finance invest responsibly to fund ventures and enterprises that generate positive social and environmental impacts alongside financial returns? This panel will discuss how to mainstream impact investing in Asia Pacific to help achieve specific SDG targets.
Speakers
Moderators
16:50
Closing fireside chat - The way forward
17:30
17:45
Post-event drinks
Subject to prevailing Covid-19 regulations
Speakers
Moderators
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UN Environment Programme
The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the world's environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system and serves as an authoritative advocate for the environment.
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BDO Unibank
BDO is a full-service universal bank in the Philippines, providing a complete array of industry-leading products and services including Lending (corporate and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Retail Cash Cards, Corporate Cash Management and Remittances. Through its local subsidiaries, the Bank offers Investment Banking, Private Banking, Leasing and Finance, Rural Banking, Life Insurance, Insurance Brokerage, and Online and Traditional Stock Brokerage services.
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UOB
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of about 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. We believe in being a responsible financial services provider and we are committed to making a difference in the communities in which we operate.
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MIOTECH
MioTech uses artificial intelligence to solve the sustainability, climate change, carbon emissions reduction, and social responsibility challenges faced by financial institutions, corporations, governments and individuals. Its comprehensive coverage of ESG data helps financial institutions make the right decisions in green finance and responsible investments. Its software helps corporations manage ESG reporting, improve energy efficiency, track and reduce carbon emissions. Its app builds green-conscious communities and promotes low-carbon lifestyles among individuals.
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Rebound Plastic Exchange
Rebound Plastic Exchange is the global, quality-assured platform for plastic feedstock, that enables buyers and sellers to efficiently trade recycled plastic with trust and confidence. The platform aims to increase the efficiency of recycling plastic at scale, provide new economic opportunities and reduce the impact of plastic pollution on our planet.
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ERM
At ERM, sustainability is our business. As the largest pure-play sustainability consultancy, we partner with the world’s leading organizations, creating innovative solutions to sustainability challenges and unlocking commercial opportunities that meet the needs of today while preserving opportunity for future generations.
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IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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EU Asean Business Council
The EU-ASEAN Business Council (EU-ABC) is the primary voice for European Business within the ASEAN region. The overarching objective of the EU-ABC is to promote changes in policies, rules and regulations so that European businesses can more easily invest and develop their businesses in ASEAN, benefiting not only their own shareholders but local economies and populations as well.
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Climate Governance Malaysia
Climate Governance Malaysia (CGM) is the country chapter for the World Economic Forum's Climate Governance Initiative, whose purpose is specifically to raise awareness about the top financial risks arising from the climate emergency amongst non-executive directors. This Initiative has laid out 8 clear and comprehensive principles to help guide boards of directors. CGM was the second country chapter in the world to be launched and first in Asia.
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Global Compact Network Singapore
GCNS is the leading voice on corporate sustainability, GCNS drives multi-stakeholder action to forge a more sustainable future, founded on the Ten Principles of the United Nations Global Compact and the Sustainable Development Goals.
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Jakarta Investment Centre
Jakarta Investment Centre (JIC) is an investment promotion agency within the Department for Investment and Integrated One Stop Service, Jakarta Capital CityGovernment. Through one-on-one meeting, networking session, and FGD, JIC aims to promote investment potential in various promising projects along with its related policies in Jakarta.
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World Climate Foundation
The World Climate Foundation is the most influential global platform focusing on accelerating action and creating impact for fighting climate change, restoring biodiversity and ensuring health resilience.We facilitate large-scale collaboration between governments, businesses, financial institutions and international organisations, enabling the transition to a net-zero, nature-positive future. We promote cross-sectoral partnerships that accelerate innovation in technologies, policies and investments and promote demand to deliver solutions for climate, biodiversity and health.
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UNDP GCTISD
The Global Centre for Technology, Innovation and Sustainable Development (GCTISD) is a joint initiative by the Government of Singapore and the United Nations Development Programme which aims at identifying and co-creating technological solutions for sustainable development. GCTISD curates partnerships, identifies solutions and connects partners and innovations with UNDP’s global network for sustainable development.
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