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ESG AND SUSTAINABLE FINANCE IN ASIA:THE FINTECH AND DATA CHALLENGEOCTOBER 2020

Julia Walker: Global Head of Government and Industry
Affairs, Sustainable Finance and Risk, Refinitiv

ASIFMA

Sensitivity: Confidential

Future of Sustainable DataAllianceInternational Response to Climate Change
Driving the need for the integration of Environmental and Social Data into decisions making and fueling Green Tech

Climate Emergency

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Response

Data and Innovation

The size of the circle
represents thenumber of climate
laws and policies.
The larger the circle,the higher thenumber of climate
laws and policies▪

▪ 31 countries and over
1,813 local governments.

▪

▪ There are over 1,800
climate laws and policies
globally▪
▪

▪
▪
▪
▪
▪
▪

New climate and biodiversity
related policies and regulations
Increased focus on ESG data
Drive for more comparable,consistent and decision ready data
Governmental policy and Actionplans being announced
Digital Financing of the SDGs
Collaboration and Alliances
Task Force of Climate Related
Financial Disclosures
Task Force of Nature Related
Financial Disclosures
Taxonomies
Net Zero Pledges01Global ESG Standards:
Notable initiatives Climate Change orCorporate Change?

US SEC committee’s
recommend updating
reporting requirements
to incorporate material,decision-useful ESG
Considerations.

Five Standard setterspledged to collaborate
on corporate reporting

June 2020

Sep. 2020

Aug. 2020

CFA Institute launched
a consultation on ESG
disclosure standards
for investment products

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IFRS launched aconsultation on thefuture of corporate
reportingSep. 2020

October•French Development Authority launched a new SDG BondFramework•MAS outlines next steps in Green Finance Action Plan and theGreen Finance Centre•

BCBS TCFR Outlines plans on climate risk initiatives•

International Platform on Sustainable Finance launched annual
report•G30 calls for FI’s to conduct climate change stress tests.

•TNFD IWG launches

Oct. 2020

WEF IBC / Big 4
release a whitepaperon converging ESG
Reporting standards.
21 core and 34
expanded metrics that
map to the SDG’s areproposed02

The role of data in sustainable
investment, policy and regulation••

•
•••••

Climate Risk is a Financial Risk – clear mandate for central banks to manage
Climate change and mitigation policies have a very profound impact oneconomies, with implications for macroeconomic and financial stability
Climate issues highlight technical gaps in the practical usage of non-financialdata.
New data demands due to Covid-19; regulatory and industry emphasis has
rebalanced away from principally environmental issues to a more holistic focus
across the three ESG pillars.
Stakeholders are unanimous in the belief that clear and consistent ESG data willbe critical to realign the financial markets towards sustainable development andhelp achieve the SDGs.
Regulators are developing taxonomies aligned with sustainability objectives.
Central banks, supervisors and private firms are engaging in deeper levels ofcollaboration to develop common disclosure standards.
Data on biodiversity loss and nature-based solutions are set to become a newfrontier for regulators and investors.

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03

UN Task Forceof Digital Financingof the SDG’s
Harnessing digitalization in advancing a
citizen-centric financial system is thecore of the Task Force’s call to action toaccelerate financing for the SDGs.
The Call to Action is underpinned by anAction Agenda comprising three, linked
sets of recommendations for actioningby market players, policy andregulatory authorities, internationalorganizations and other stakeholders.

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04

CONTACT
Julia Walker(+65) 8399 5660

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