ASEAN Green Bond Standards launched to drive sustainable investments
The ASEAN Capital Markets Forum (ACMF) on November 8 held its first ASEAN Capital Market Conference in Kuala Lumpur, Malaysia.
Illuatrative image. (Photo: VNA)Kuala Lumpur (VNA) - The ASEAN Capital Markets Forum (ACMF) on November 8 held its first ASEAN Capital Market Conference in Kuala Lumpur, Malaysia.
Themed “Strengthening ASEAN Capital Market Connectivity”, the conference saw the attendance of over 300 participants from the region, representing issuers, investors, intermediaries, regulators and experts from institutions like the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the International Capital Markets Association and the World Bank (WB).
The panel sessions at the conference discussed topics, including infrastructure and green financing, corporate governance and changing market dynamics in the age of digitisation.
The launch of the ASEAN Green Bond Standards (AGBS) was held in conjunction with the conference. The AGBS were developed based on ICMA’s Green Bond Principles tailored to meet the needs and commitment of ASEAN. The AGBS label is to be used only for issuers and projects in the region and specifically excludes fossil fuel-related projects.
Addressing the event, Chair of ACMF Ranjit Ajit Singh said that ASEAN must grow in a responsible and sustainable manner. Growth cannot come at the expense of our future generations. It is necessary to support efforts to protect the environment and the ASEAN Green Bond Standards will help in the allocation of resources towards climate friendly investments.
Martin Scheck, Chief Executive of ICMA, welcomed the alignment of AGBS with Green Bond Principles. He also congratulated ACMF’s remarkable initiative to introduce the ASEAN Green Bond Standards, which will promote the development of ASEAN Green Bonds and their compatibility with the international market.
The ACMF remains committed to increasing ASEAN connectivity and facilitating the development of market solutions by engaging and collaborating with industry and stakeholders through dialogue. It will also increase its interactions with the Industry Consultative Panels that it established to gather industry input for its proposals.
The ACMF is a high-level grouping of capital market regulators from all 10 ASEAN, including Vietnam.-VNA
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