Banking, Financial Industry To Discuss Just Transition To Greener Economy

KUALA LUMPUR, June 21 (Bernama) -- Banking and financial practitioners will discuss the issues, challenges and opportunities in effecting a just transition in this critical decade for climate action at the Malaysian Banking Conference (MBC) here next week.

The Asian Institute of Chartered Bankers (AICB) and the Association of Banks in Malaysia (ABM) will co-host this second edition of the MBC from June 26-27, 2023, with the theme “Banking and the ESG Revolution: Going Beyond Aspirations.” 

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz will deliver a keynote address for the event, while Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad will deliver a special ministerial address, AICB and ABM said in a joint statement today.

“The MBC will convene government agencies, regulators, financial industry leaders and sustainability experts to share their deep expertise and discuss current environmental, social and governance (ESG) initiatives, developments, and challenges to develop practical and impactful solutions to help mitigate the adverse effects of climate change and support the financial industry’s just transition to a more sustainable and greener economy,” they said.

Speakers at the conference will include ESG experts and captains of the banking and the financial industry, namely from the Asian Development Bank, Bursa Malaysia Bhd, Maybank, Standard Chartered Bank, International Finance Corporation, Climate Impact X, AirCarbon Exchange, United Nations Environment Programme Finance Initiative, AmBank, and Tenaga National Bhd.

They will discuss topics such as government ESG policies, governance, carbon markets, green financing, the real challenges faced by the top emitting industries, social issues, climate technology, ESG data and disclosure, the statement said.

AICB chief executive officer Edward Ling expressed hope that the MBC would provide an opportunity to further advance the domestic dialogue on the significant ESG issues to drive greater climate action and manage a just transition in the banking and financial sector in Malaysia.

In the same light, ABM executive director Kalpana Sambasivamurthy said the event is expected to help spur the banking sector to make further strides towards Malaysia’s stated ESG goals.

Following the MBC, AICB, as a founding member and board member of the Global Banking Education Standards Board (GBEStB), will host the GBEStB flagship event, the World Conference of Banking Institutes (WCBI), on June 28 in Kuala Lumpur.

“Themed ‘Building a Workforce Fit for the Future’, the 24th installation of WCBI will discuss upskilling and reskilling, which are crucial for the new-age workforce in a borderless world, especially with the ESG and digital developments arising, and analyse the industry’s approach towards building a sustainable pipeline of banking talents,” it said.

Both conferences are expected to attract close to 700 delegates from local and international financial institutions, it added.

-- BERNAMA