Page 121 - SC SCAR 2023 ENGLISH Flipbook
P. 121

 In addition, the SC contributed insights to the panel on ‘Capacity Building for Transition towards Low-emission and Climate Resilient Development Pathways’ at the Joint Multilateral Development Banks (MDB) Pavilion organised by the New Development Bank and the Institute of Finance and Sustainability. This session discussed significant advancements, challenges, and opportunities within sustainable finance and investment across New Development Bank member countries, emerging markets, and developing countries.
During the regulator fireside chat on ‘Convergence or Building your Own?’, which was held at the Global Ethical Finance Initiative’s (GEFI) Summit on Unlocking Islamic Finance for COP28, the SC as a participant discussed the SRI Sukuk Framework while emphasising the SC’s commitment to steering the market with the guiding tenets of maqasid al-Shariah, fortifying Malaysia’s position in the global ICM.
The SC was also the spokesperson for relevant ASEAN initiatives at COP28 such as the ASEAN Taxonomy for Sustainable Finance (ASEAN Taxonomy) and the ASEAN Transition Finance Guidance (ATFG), in its capacity as Chair of the ATB’s Working Group on Market Facing and Resourcing, and Co-Chair of the ASEAN Capital Markets Forum’s (ACMF) Sustainable Finance Working Group.
At the Asian Development Bank (ADB) Pavilion, the SC contributed to discussions on transition finance by representing ACMF in a panel on ‘Promoting a common language to sustainable finance within Southeast Asia and guiding a just transition: The ASEAN Taxonomy and ASEAN Transition Finance Guidance’, providing perspectives on ASEAN’s transition journey.
Additionally, the SC represented the ATB by delivering a presentation on ‘The ASEAN Taxonomy for Sustainable Finance Version 2: Stakeholder Validation and Continuing Development Towards a Just Transition’ at the Malaysia Pavilion. The presentation included an overview of the ASEAN Taxonomy, highlighting key outcomes from the completed stakeholder consultation, and outlined future steps for the taxonomy project and transition initiatives.
The SC also represented the ATB in a panel session at the Singapore Pavilion on ‘Managing the Phaseout of Coal-fired Power Plants Session 1: Credibility’. The session focused on the collaborative role of the ASEAN Taxonomy and voluntary guidance in driving coal phase-outs, emphasising the need for public-private collaboration in creating an enabling environment for these initiatives.
                                  PART 4 STRATEGIC ENGAGEMENTS WITH STAKEHOLDERS

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