ADFIAP leads panel on responsible finance

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ADFIAP was invited to act as moderator at the “ABA-COFITT Responsible Finance Workshop” held on October 16, 2018 at the Makati Shangri-la Hotel, Makati City, Philippines, organized by the Association of Banks in Singapore (ABS), the ASEAN Bankers Association (ABA) and the Bankers Association of the Philippines (BAP) in partnership with the World Wide Fund for Nature (WWF).

The keynote address on the “Roadmap for Sustainable Finance in the Philippines” was delivered by Ms. Chuchi Fonacier, Deputy Governor of the Bangko Sentral ng Pilipinas (Central Bank) followed by a session on the discussion on the “Global and Regional Drivers for Responsible Finance” which looked at how the regulatory landscape has changed to encourage responsible finance and the rising expectations from civil society on the banking sector.

Other topics discussed were “Meeting Changing Investor Expectations” which looked at the impact of changing investor expectations on company disclosure and reporting requirements; “Banking Sector Response to Investor Expectations” which looked at how banks can incorporate Environmental and Social Governance (ESG) considerations in their businesses to meet changing investors’ expectations; “Climate & Energy: Managing Risks” which examined the risks arising from climate change that would have an impact on the banking sector and how banks can adapt their businesses to address these; “Climate& Energy: Unlocking Opportunities” which explored new opportunities that arise from energy efficiency finance and green bonds.

Presentations in the afternoon were “IFC & Greening Finance”; UNEP FI’s “Work with the Banking Sector on Principles for Responsible Banking and the TCD Pilot Project”; and “Banks’ Progress in Responsible Finance.”

ADFIAP was represented by the ADFIAP Consulting Group Head Cora D. Conde who moderated the session on “Climate & Energy: Managing Risks” with Mr. Rafael Senga, Practice Expert, WWF Philippines; Ms. JoAnn B. Eala, VP, Sustainable Energy Finance of the Bank of the Philippine Islands; and Mr. Frankie Phua, Managing Director of the UOB Bank of Singapore as panelists.

The workshop culminated in the discussion of “Key Takeaways and the Way Forward” where Mr. Benjamin Castillo, Managing Director of BAP summarized the key highlights from the workshop and the next steps for the Philippine banking industry in responsible financing.

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