On the invitation of Japan’s Mitsubishi Research Institute (MRI), ADFIAP participated in two sessions of a virtual finance event organized by the Cleaner Energy Future Initiative for ASEAN (CEFIA) entitled, “Enhancing Regional Capabilities to Attract Cleaner Energy Finance in ASEAN” on March 4, 2021. The forum was attended by more than 90 representatives of governments, international organizations, financial institutions (FIs), and private companies.
Session 1 on “Fostering Mutual Understanding of the Bottlenecks and Opportunities for Accelerating Cleaner Energy Finance” was moderated by ADFIAP, represented by Mr. Enrique Florencio, Group Head for Operations and Sustainability Officer. He also presented the results of the baseline study conducted by ADFIAP on clean energy finance initiatives and challenges of FIs in the ASEAN region. Panel members from the Asian Development Bank, MUFG Bank, Ltd, Development Bank of the Philippines, Private Financing Advisory Network (PFAN), and Clime Capital Pte. Ltd., also shared their insights and proposed recommendations on the findings of the study.
Session 2 on “Visualization of Carbon Footprint Reduction by Financial Institutions” presented the Climate Assessment for Financial Institutions (CAFI), an assessment and reporting tool for climate finance developed by the International Finance Corporation (IFC). Panel members, which included the Head of the ADFIAP Finance and Investment Center (AFIC), Ma. Nanette A. Biason, the Asian Development Bank, and the Commercial Bank of Ceylon discussed the challenges and benefits of the tool and how useful it is for their respective institutions.
CEFIA https://www.cefia-dp.go.jp/ is an initiative proposed by Japan and welcomed by ASEAN +3 Ministers of Energy at the 16th ASEAN+3 Meeting of Energy Ministers in Bangkok, Thailand in September 2019. It is a platform to facilitate collaboration and accelerate the deployment of cleaner energy and low carbon technologies in the ASEAN region.
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