An Introduction – What is Sustainable Finance?
The first webinar of the Sustainable Finance Series in collaboration with the World Bank and Islamic Banking & Finance Institute Malaysia (IBFIM) was held on 11 August 2020 at 10 am. Moderated by AICB CEO Prasad Padmanaban, “An Introduction – What is Sustainable Finance?” highlighted the need for the banking and finance industry to strengthen its commitment to green banking, especially with the rise of digital disruption and climate change acceleration. Speaker Lavanya Rama Iyer set the context of the discussions and shared her experiences and efforts on sustainable banking in her role as Head of Policy and Climate Change of WWF Malaysia. Subsequently, Mohamed Rozani Osman, Senior Financial Sector Specialist at World Bank enlightened the audience on the definitions used in sustainable banking; the principles, standards and guidelines governing the practice; and the publications that delve into the implementation of sustainable banking. In sharing the fundamentals of sustainable finance, he also explained how developing systems that are conducive to climate change mitigation and achieving the UN Sustainable Development Goals will further encourage ESG investing. The webinar was attended by close to 350 participants, who actively engaged with the speakers through the Q&A session and chats. A recording of the webinar was provided to all participants after the session.