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ASEAN capital market regulators want strong path towards sustainable capital markets

Last update: 03/10/2019
KUALA LUMPUR, Oct 3 -- ASEAN capital market regulators have reiterated a strong path towards sustainable capital markets, while reaffirming the direction towards promoting sustainability, connectivity and resilience in the regional capital markets.

In a statement, the Securities Commission Malaysia (SC) said the 31st ASEAN Capital Markets Forum (ACMF) meeting today in Phuket discussed the progress of ACMF initiatives on sustainability, connectivity and resilience.

“The initiative on developing a Roadmap for ASEAN Sustainable Capital Markets (Roadmap) was endorsed by the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) in April 2019. The roadmap promotes a common vision and comprehensive direction towards an ecosystem for sustainable capital market development, as well as an ASEAN asset class for sustainable investment.

“The members agreed that the roadmap should address key areas, such as environmental, social and governance (ESG) information/disclosure standards, analytical tools, and stakeholder awareness and engagement,” it said.

It also said the ACMF welcomed feedback from institutional investors during the meeting, through the ACMF industry consultative panels, and gathered comments on and recommendations for the roadmap.

In addition, it said, the ACMF also noted that in less than two years following the launch of the ASEAN Green Bond Standards in November 2017, and the ASEAN Social Bond Standards and ASEAN Sustainable Bond Standards in October 2018, there had been issuances of green and sustainable bonds totaling US$2.6 billion from the region carrying the ASEAN Green or Sustainable Bond labels.

“The issuances, which originated from Malaysia, the Philippines, Singapore and Thailand to fund green buildings, renewable energy and other sustainable projects, demonstrate the growing interest in sustainable finance by issuers and intermediaries throughout the region to finance development projects.

“This encouraging progress is a validation of the ACMF’s efforts to promote the sustainable finance agenda in the broader capital market through the Roadmap for ASEAN Sustainable Capital Markets,” it added.


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