Hong Kong, Singapore and Thailand facilitating growth of sustainable bond and loan markets.
Investment consultants and fund managers, among others, would be required to undergo a mandatory training module covering ESG at licence renewal.
A new report offers a set of non-binding recommendations to promote a unified ASEAN approach towards managing climate and environment-related risks.
Among the 11 key recommendations to help facilitate change, New Zealand’s roadmap involves the introduction of a new stewardship code for financial institutions.
Companies will have to issue emissions reports, subject to strict disclosure and verification requirements, used to determine allowances.
Proposed requirements for fund managers cover four governance, investment management, risk management and disclosure.
Association calls for ‘comply-or-explain’ policing of stewardship codes, more prominent role for ESG.
The plan, backed by five government agencies, includes the introduction of a carbon market and two-way cross-border participation in green finance and climate-friendly investment.
As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.
Survey suggests major investment institutions demanding are more from managers, while also building in-house capabilities.
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