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Asia School of Business Contributes to Charting Path towards Sustainable Capital Markets in ASEAN_5
attached file : Article2_Asia School of Business.pdf

Asia School of Business Contributes to Charting Path towards Sustainable Capital Markets in ASEAN

Earlier in March this year, the 32nd ASEAN Capital Markets Forum (ACMF) Chairs’ Meeting was held in Hanoi, Vietnam, to finalize actionable recommendations under the Roadmap for ASEAN Sustainable Capital Markets, the concept of which had been endorsed by the 5th ASEAN Finance Ministers and Central Bank Governors’ Meeting just over a year ago in April 2019. It was during this ACMF Chairs’ Meeting in Hanoi where four students of the Asia School of Business (ASB) presented their findings and recommendations to the heads of capital market regulators in the ASEAN region.

ASB was commissioned by ACMF, with support from the Asian Development Bank (ADB), in the Fall of 2019 to undertake an initiative that would further explore the opportunities for the ACMF to facilitate and mobilize private sector capital for the financing of sustainable projects via the capital markets in ASEAN.

ASB had taken this unique opportunity to allocate the project to its senior class students interested in capital markets and sustainable development. Under the continued attention and guidance of ASB’s renowned faculty in Central Banking – Professors Gabriele Ciminelli and Hans Genberg – ASB’s MBA students were on the road attending different platforms in the region to comprehensively engage with high-level stakeholders from all three sectors so as to gather as much data and insights as possible in formulating a universally-acceptable set of recommendations.

The Roadmap provides a strategic direction and recommendations for the creation of a sustainable asset class in ASEAN to support ASEAN’s sustainable development agenda for the next five years so as to mitigate the social and environmental risks linked to climate change. The document sets out recommendations under four priority areas, namely strengthening foundations, catalysing products, and enabling access to under-served areas, raising awareness and capacity building, and increasing regional connectivity.

The Roadmap was originally planned to be presented at the 6th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in April this year, but that has been postponed to a later date due to the ongoing COVID-19 pandemic situation.

ASB President and Dean, Professor Charles Fine, commented that “ASB is honored to have taken part in this regional initiative and we are truly proud of our students and the faculty who supported them through the School’s Action Learning program. I believe this world-class, professional work that has been delivered in and outside the classroom demonstrates the level of excellence we ask of our students. It is also a reflection of the strong commitment that ASB’s faculty and staff have to offer its students, external partners, and ultimately, the community which we take part in trying to make a better place.”

A digital copy of the Roadmap has recently been made available to the general public and can be downloaded from here.


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