The Alliance for Green Commercial Banks Organised the 3rd Roundtable in Climate Risk

16 Nov 2021

The Alliance for Green Commercial Banks (the Alliance), co-launched by the Hong Kong Monetary Authority (HKMA) and International Finance Corporation (IFC), a member of the World Bank Group, hosted the third roundtable, "Climate Risk in Action: A Conversation with Practitioners", virtually today (16 November).

The Alliance was jointly launched by the HKMA and IFC in November 2020 to help banks develop the solutions needed to address climate change across emerging markets. As part of its knowledge sharing and capacity building efforts, the Alliance has been hosting a series of roundtable sessions on relevant topics. The series of roundtable sessions will equip participants with the knowledge related to green banking transition and will provide a platform for market participants across commercial banks, leading real sector companies, tech innovators, thought leaders, and regulators to share their first-hand experiences and intelligence.

The third roundtable commenced with opening remarks from Mr Peter Cashion, Chief Investment Officer and the Global Head of Climate Finance, Financial Institutions Group, IFC; and keynotes by Ms Pratima Divgi, Regional Director, CDP Hong Kong.

The panel discussion was moderated by Mr Daryl Ho, Executive Director (Banking Policy) of the HKMA, and featured the following speakers:

• Mr Victor Kuk, Head, Client Markets, Southeast Asia, India, Korea, Hong Kong and Taiwan, P&C Reinsurance Asia, Swiss Re;
• Mr Wai-Shin Chan, Head, Climate Change Centre of Excellence, Global Head of ESG Research, The Hongkong and Shanghai Banking Corporation Limited; and
• Ms Juliette Macresy, Executive Director - Issuer Business, V.E, Part of Moody's ESG Solutions.

During the discussion, speakers unveiled the current strategies, as well as the opportunities and challenges in climate risk management.

"At IFC we embrace responsible investing by helping banks manage climate-related physical and transition risk associated with the projects and businesses they are funding, by developing a common assessment framework to help banks to assess their individual 'greenness baseline'," said Mr Peter Cashion.

"To address a global issue like climate change, concerted efforts of different stakeholders is of paramount importance. Today's discussion has demonstrated how the financial sector can make critical contribution to strengthening the global response to climate change," said Mr Daryl Ho.

Riding on the success, the Alliance will be hosting roundtable sessions in the coming future. Participants will have the opportunity to learn and exchange knowledge with global sustainability as well as ESG experts, leaders in green finance and real sector, and peers from across the regions on topics such as green finance, carbon neutrality, climate risk, ESG, market trends and opportunities, policy environment and more.

Hong Kong Monetary Authority
16 November 2021

The Alliance for Green Commercial Banks hosts the third roundtable, "Climate Risk in Action: A Conversation with Practitioners", virtually today (16 November). The event commences with opening remarks from Mr Peter Cashion, Chief Investment Officer and the Global Head of Climate Finance, Financial Institutions Group, International Finance Corporation (top centre); and keynotes by Ms Pratima Divgi, Regional Director, CDP Hong Kong (top right). The panel discussion is moderated by Mr Daryl Ho, Executive Director (Banking Policy) of the Hong Kong Monetary Authority (top left), and is joined by Mr Victor Kuk, Head of Client Markets, Southeast Asia, India, Korea, Hong Kong and Taiwan, P&C Reinsurance Asia, Swiss Re (bottom left); Mr Wai-Shin Chan, Head, Climate Change Centre of Excellence, Global Head of ESG Research, The Hongkong and Shanghai Banking Corporation Limited (bottom centre); and Ms Juliette Macresy, Executive Director - Issuer Business, V.E, Part of Moody's ESG Solution (bottom right).

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