Acmf Endorses Asean Transition Finance Guidance At Its 39th Chairs' Meeting

KUALA LUMPUR, Oct 16 (Bernama) -- The Asean Capital Markets Forum (AMCF) today endorsed the Asean transition finance guidance during its 39th ACMF Chairs’ Meeting hosted by the Indonesian Financial Services Authority.

In a statement, it said the guidance serves as a common standard for what constitutes a credible, transparent, and inclusive transition with a focus on aligned and aligning transition finance opportunities.

"The guidance complements the Asean taxonomy, and the ACMF intends to consult and further refine the guidance taking into account stakeholder consultation feedback in the future," it said.

The forum for the region’s capital market regulators said the meeting also endorsed an initial report that features preliminary findings on the overall state of development of voluntary carbon markets in Asean and disclosure principles in carbon offsetting.

"The report aims to be a first step towards a more comprehensive study and structured report regarding the voluntary carbon market in Asean and the importance of carbon offsetting disclosure.

"To facilitate the cross-border offerings of Asean sustainable and responsible funds (SRF) under the existing Asean collective investment scheme (CIS) framework, the meeting endorsed the handbook for cross-border offerings of Asean SRF under the Asean CIS framework, which will be published on the ACMF website," it added.

ACMF noted that the meeting had approved the revised Asean corporate governance scorecard to align with the revised G20/OECD (Organisation for Economic Co-operation and Development) principles of corporate governance, in which sustainability-related governance is among the key revisions.

Meanwhile, the statement said the meeting witnessed the signing of the protocol for ACMF-IFRS Foundation Dialogue on the International Financial Reporting Standards (IFRS) sustainability disclosure standards by ACMF chair 2023 and an International Sustainability Standards Board (ISSB) board member on behalf of the IFRS Foundation.

"The protocol serves as a guide for ACMF’s future engagements with ISSB.

“As part of ACMF’s objective to promote consistent and comparable sustainability disclosures across jurisdictions, it is assessing the feasibility of adopting IFRS sustainability disclosure standards, taking into account each jurisdiction’s own legal and regulatory arrangements," it added.

Additionally, the meeting witnessed the handover of the ACMF chairmanship from the ACMF chair 2023, Otoritas Jasa Keuangan Indonesia, to the Lao Securities Commission Office for 2024, with the Securities Commission Malaysia as vice-chair.

-- BERNAMA