ADFIAP joins green finance roundtable dialogue

ADFIAP participated in a roundtable dialogue on greening the finance system organized by Allotrope Partners in collaboration with the British Embassy Manila which was held on July 19, 2019 at the New World Makati Hotel in Manila, Philippines.

The organizer’s aim of holding a deep-dive discussion among key stakeholders was focused on how to reduce or remove risk from the overall financial system by reducing carbon exposure and diversifying into and growing business opportunities in green infrastructure. The stated objectives were to: (a) provide a comprehensive and detailed situationer on financial system risk due to carbon exposure (b) identify barriers to scaled implementation of green finance practices among financial institutions (c) provide an avenue for green finance experts to share effective methods that enable banks to begin moving from principles to action and (d) begin to create task forces/core groups composed of private sector financial institutions that will help the regulators to cascade high-level principles and facilitate action.

Over 40 participants from business and banking regulatory bodies, commercial banks, development finance institutions (DFIs), and development organizations attended the event which was also timed as the launch of the Southeast Asia “Greening the Finance System” (GFS) initiative which seeks to build capacity of Southeast Asian financial institutions to actively participate in green finance by organizing dialogues between FIs and financial regulators and working with existing similar initiatives in the region, with the ultimate goal of decreasing capital invested in conventional fossil plants, while rapidly expediting and scaling renewable energy investments.

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