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ESG gaining ground in banking

PETALING JAYA: The adoption of environmental, social and governance (ESG) principles in the banking sector is gaining momentum but its success will hinge on embracing the right action. Experts and bankers agree that the adoption of ESG principles in the sector is vital and needs beefing up to ensure a healthy bottom line in the long term despite some hiccups. Ernst & Young (EY) Advisory Services Sdn Bhd director for climate change and sustainability services Arina Kok (pic below) said with the recent issuance of the Climate Change and Principle-based Taxonomy by Bank Negara, many financial institutions have started to integrate ESG considerations into their lending practices and risk management, albeit at an early stage of adoption.

Malaysia generalArina kokRafe haneefSoutheast asiaStarhub groupErnst young ey advisory services sdn bhdServices framework gssipsBankm bhdBank negaraSarawak energy bhdPalm oilA groupDeloitte malaysia sustainability servicesAdvisory services sdn bhdClimate changePrinciple based taxonomy

Growing Champions: Scaling up and enabling climate finance in Malaysia

“Climate finance across debt and equity capital markets, syndicated and bilateral lending, project finance, structured products, derivatives and securities finance represents an estimated global revenue pool of more than US$25 billion annually over the next decade.” Green financing will play an increasingly important role in global investment in the coming years, and Malaysia can play a pivotal part in this journey. A report from Boston Consulting Group (BCG) and the Global Finance Markets Association (GFMA) titled “Climate Finance Markets and the Real Economy” describes a significant US$3 trillion (RM12.3 trillion) to US$5 trillion annual financing need and opportunity for financial institutions.

United statesFrance generalUnited kingdomSecurities commissionCommittee on climate changeTask force on financial disclosureBank negaraGlobal finance markets associationBoston consulting groupBank negara malaysiaFinance marketsAsean central banksManaging climateJoint committeeClimate changeTask force

Bank Negara: Impact assessment framework sectoral guides on oil and gas, manufacturing, construction and infrastructure by year-end | Money

Bank Negara: Impact assessment framework sectoral guides on oil and gas, manufacturing, construction and infrastructure by year-end | Money
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Kuala lumpurAhmad zamzahuriBank negara malaysiaAnnual reportValue based intermediation financingInvestment impact assessment frameworkClimate changePrinciple based taxonomyகுவாலா லம்பூர்வங்கி நெகாரா மலேசியாஆண்டு அறிக்கைமுதலீடு தாக்கம் மதிப்பீடு கட்டமைப்புகாலநிலை மாற்றம்

Climate and environmental Governance: Five years on from the Paris Accord, where are we?

The Paris Agreement was signed exactly five years ago on Dec 12, by 196 nations. It was a breakthrough in global climate governance and cooperation, with a target to limit global warming this century to 1.5°C, and at most, to 2°C. As part of this, each signatory country had committed to its own Nationally Determined Contributions (NDCs) to reduce carbon emissions. However, many countries are not on track to meeting their Paris commitments, and five years on, with more advanced approaches to climate modelling, the data is telling us that global warming is on track to hit 2.8°C, far exceeding the Paris Agreement’s limit of 2°C.

New zealandFrance generalUnited kingdomMalaysia generalSouth koreaInternational financial reporting standardsAction networkMinistry of environmentWorld economic forum climate governance initiativeCommittee on climate changeSustainable development goalsTask force on climateBank negara malaysiaInternational accounting standards boardParis agreementNationally determined contributions