● Advancing Environmental Assessment in Africa - December 10, 2020
● The State of Sustainable Finance in South Africa’s Retirement Sector - December 8, 2020
● Environmental Risk Management and Climate Reporting - December 4, 2020
● Green Finance Supply and Demand Dynamics in Times of COVID - August 4, 2020
● Rebuilding Resilience through Sustainable Finance - June 25, 2020
● Trends in Taxonomy Development and Lessons from Emerging Markets - February 20, 2020
● Creating Green Bond Markets in Africa - February 7, 2019
Advancing Environmental Assessment in Africa. December 10, 2020
Climate change, transboundary impacts, gender, and health are just some of the critical issues at stake in advancing and increasing the value of environmental assessment in financing activities in Africa. The Sustainable Banking Network (SBN) is a learning platform established in 2012 by IFC and emerging market regulators and banking associations to facilitate knowledge exchange and collaboration to advance sustainable finance. One of the pillars of this work is the integration of environmental, social, and governance (ESG) considerations into financial sector activities. With this mind, SBN and the Development Bank of Southern Africa (DBSA) invite you to explore current and emerging priorities for commercial banks, development finance institutions, prospective developers, government authorities, non-governmental organizations, and environmental assessment practitioners, as they collectively strive to improve environmental assessment on the continent. This webinar, livestreamed on Dec. 10, also features a consultation on the upcoming 4th edition of DBSA’s Handbook on Environmental Assessment Legislation in Sub-Saharan Africa. Benefitting from collaboration with practitioners across Angola, Botswana, Eswatini, Ethiopia, Ghana, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Rwanda, South Africa, Zambia, Zanzibar, and Zimbabwe, the new edition covers the institutional, legal, and procedural frameworks for Environmental Assessment in 26 countries. It addresses essential new topics, and features translation of relevant sections into French and Portuguese. Participants are invited to provide feedback on ways the next edition can be improved to best meet the needs of practitioners across different parts of the environmental assessment process, including the financial sector and regulators. Download the Consultation Draft African Environmental Assessment Legislation Handbook. Check out the presentation material of the webinar.
● Libby Dreyer, Head: Environmental Social Sustainability, Development Bank of Southern Africa
● Hama Ndlovu, ESG Manager, Sub-Saharan Africa & Middle East and North Africa, IFC
● Bryony Walmsley, Compiler and lead author of the upcoming Handbook on Environmental Assessment Legislation in Sub-Saharan Africa
● Leanne Govindsamy, Programme Head: Corporate Accountability and Transparency, Centre for Environmental Rights (CER)
● Musa Salah, Chair: Ghana Sustainable Banking Principles Steering Committee
● Louise Gardiner, Sustainable Banking Network Africa Coordinator
The State of Sustainable Finance in South Africa’s Retirement Sector. December 8, 2020
From January to August 2020, FSCA and IFC collaborated to survey how well South Africa’s retirement industry is positioned to unlock significant investment opportunities in the new global trend towards green and climate finance - which represents around $588 billion in investment needs in South Africa alone up to 2030, according to IFC research. The survey also captured progress by South African retirement funds in adopting responsible investing practices in line with Regulation 28 of the Pension Funds Act, 1956 (‘PFA’), and Guidance Note 1 of 2019. Despite the challenges of COVID-19, 140 funds responded to the survey, representing roughly 76% of the total assets under management and 28% of total retirement funds in the industry. The results signal a pivotal moment for South Africa’s retirement funds to take a leading role on sustainable finance in South Africa. On Dec. 8 2020, this webinar explored the findings of the research and opportunities for retirement fund sector innovation in sustainable finance in the coming years. The research and recommendations will contribute to complementary national initiatives, including implementation of National Treasury’s Technical Paper on Financing a Sustainable Economy and the JSE’s new Sustainability Segment. Download the report Sustainable Finance Practices in South African Retirement Funds. The project is supported by IFC, part of the World Bank Group, through IFC’s Green Bond Market Development Program in partnership with the Swiss State Secretariat for Economic Affairs (SECO) and Swedish International Development Cooperation Agency (Sida). More about: IFC’s Green Bond Market Development Program / Financial Sector Conduct Authority (FSCA).
● Olano Makhubela, Divisional Executive for Retirement Funds Supervision
● Adamou Labara, South Africa Country Manager, IFC
● Graunt Kruger, CEO, Intellidex USA and Global Lead: Strategy Research
● Belaina Negash, Research Analyst: ESG, GEPF
● Premal Ranchod, Head of ESG research, Alexander Forbes Investments
● Kgomotso Ramokala, Principal Officer, Telkom Retirement Fund
● Kobus Hanekom, convenor of the Batseta Commercial Fund Forum
● Louise Gardiner, IFC Green Bond Market Development Program
Environmental Risk Management and Climate Reporting. December 4, 2020
Environmental risks have become unneglectable risks for financial institutions. Banks and other non-bank financial institutions have to learn how to identify, assess and manage such risks at both project level and portfolio level. Risk assessment requires a higher level of environmental, social, and cooperate governance (ESG) disclosure. This has become a trend worldwide among stock exchanges and the latest development focuses on climate-related financial disclosure. In addition to that, UN Principles for Responsible Banking (PRB) also points out that banking sector globally is expanding from ESG risk management to impact creation.
This webinar will bring experts from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), IFC-supported Sustainable Banking Network (SBN), UN Sustainable Stock Exchanges (UN SSE) initiative and UNEP Financial Initiative-Principles for Responsible Banking (PRB) to introduce latest development of environmental risk management, climate disclosure as well as impact creation and management. This technical webinar for practitioners and regulators of capital markets and banking sectors is a side event of the 2020 China SIF Week. The webinar is co-hosted by Sustainable Banking Network (SBN), UN Sustainable Stock Exchanges Initiative (UN SSE), and China Social Investment Forum (China SIF).
● Guo Peiyuan, Chairman, China SIF
● Ma Jun, Chairman, China Green Finance Committee
● Wei Yuan, Asia Coordinator, Sustainable Banking Network
● Anthony Miller, Coordinator of the UN SSE initative, UNCTAD
● Yuki Yasui, Asia Pacific Coordinator, UNEP Financial Initiative
The Key Role of Central Banks and Regulators in Greening the Financial System. August 6, 2020
Central banks and regulators are noting the risks and opportunities in green finance and they are taking action. Entities such as the Central Bank and Supervisors Network for Greening the Financial System, the Sustainable Banking Network, and the Task Force on Climate-Related Financial Disclosure all reflect interest among central banks and financial sector regulators in strengthening environmental and climate risk management in the financial sector to promote financial stability while mainstreaming finance that supports the transition toward a sustainable economy. During this featured SBN partner webinar, the distinguished panelists spoke about i) sustainable finance strategies of their countries, ii) the importance of developing local standards, such as climate finance taxonomies, to harmonize international approaches, and iii) the relevance of creating national sustainable finance committees or working groups. This event is part of the Ctrl + Alt + Delete Green Rebuild Webinar Series, hosted by the IFC-supported Green Banking Academy (GBAC). This on-going learning series facilitates a discussion with central banks and regulators about how they can accelerate efforts to “green” the financial system. The IFC-GBAC is a knowledge initiative to accelerate the green transformation of banking, strengthening its business, and contributing to a more sustainable world, with a focus on the Latin America region. Watch more IFC-BGAC webinars here.
● Rafael Del Villar, Chief Advisor to the Governor, Banco de Mexico
● Jose Manuel Marques, Head of the Financial Innovation Division, Bank of Spain
● Mariana Escobar, Sustainable Finance Group Head and Advisor to the Superintendent of Colombia, Financial Superintendence of Colombia
● Louise Gardiner, Working Groups Coordinator, IFC-facilitated Sustainable Banking Network (SBN)
Green Finance Supply and Demand Dynamics in Times of COVID. August 4, 2020
This featured SBN Member Webinar presented contributions from SBN, Bangladesh Bank (a fellow SBN member), and the Kenya Climate Innovation Center, which incubates green economy entrepreneurs and innovators. The discussion covered how the pandemic was shaping the sustainable finance agenda, and the "COVID Kairos" moment in emerging markets, offering high-value opportunities to rebuild greener economies. The session was moderated by Nuru Mugambi, Kenya Bankers Association (KBA) Director of Public Affairs, who has led the KBA Sustainable Finance Initiative since 2012. This event is part of the KBA’s weekly COVID-19 Insights Webinar Series. The program commenced in April 2020 and covers how the Coronavirus (COVID-19) pandemic has impacted banks and the economy. The goal of the sessions is to inform and build the capacity to navigate the COVID environment amongst the KBA member banks, spanning 45 banks and microfinance institutions.
● Asif Iqbal, Joint Director, Bank of Bangladesh
● Edward Mungai, CEO, Kenya Climate Innovation Centre
● Louise Gardiner, Coordinator of SBN African region & Green Bond Working Group
● Nuru Mugambi, Director, Kenya Bankers Association
● Kenya Climate Innovation Center and its programs, by Edward Mungai
● Ms. Gardiner shared initiatives and insights from many of SBN’s member institutions in emerging markets – both central banks and banking associations – that were targeting green, social, and sustainability-focused finance strategies and instruments to respond to the pandemic and rebuild resilience. She also included highlights from SBN’s latest report on innovation and the business case for sustainable finance in low-income countries: Necessary Ambition: How Low-Income Countries Are Adopting Sustainable Finance to Address Poverty, Climate Change, and Other Urgent Challenges.
● Mr. Mungai covered trends within the Green Economy in so far as how COVID has disrupted climate change innovators, and at the same time, created new opportunities. His presentation included brief case studies of green economy entrepreneurs and innovators who were disrupting their sectors. KCIC funds, incubates, and provides technical assistance for entrepreneurs and start-ups developing innovative solutions in energy, water, and agribusiness to address climate change challenges. So far, the Center has deployed $195,000 in early-stage finance, which has generated $16,789,730 in revenues and 2,842 jobs across the country. The firms supported by the Center have collectively reduced carbon emissions by 414,920 tons.
● Mr. Iqbal shared the Bangladesh experience, providing participants with a regulators’ perspective on why banks needed to keep Green Finance activity going, despite COVID. He touched on the necessity of the “Build Back Better” approach, introduced by Japan in 2015 to the UN General Assembly as a strategy to rebuild nations after natural disasters to create more resilient economies. He also covered the Bangladesh sustainable finance journey and how the regulator viewed the role of social and environmental risk management as a tool to promote financial sector stability.
Green Recovery: Stimulating Post-COVID Economic Competitiveness in South Africa – Exploring the Role of A South Africa Green Finance Taxonomy. July 9, 2020
In this featured SBN Member Webinar, jointly hosted by the National Treasury of South Africa, IFC, Carbon Trust, and National Business Initiative (NBI), the discussion focused on the process to develop a national green finance taxonomy and its role in supporting the country’s green recovery. In May this year, South Africa’s government published "Financing A Sustainable Economy – Technical Paper 2020", sharing its vision for achieving policy coherence, regulatory guidance, oversight, and capacity building for sustainable finance across all parts of the financial sector. The paper recommends the development of a national sustainable finance taxonomy that leverages international developments. For more about South Africa’s national sustainable finance journey over the last several years, see the SBN 2019 Global Progress Report and the South Africa Country Progress Report.
● Sarah McPhail, Director, National Treasury of South Africa
● Sean Kidney, CEO, Climate Bonds Initiative
● Shameela Ebrahim, Chief Sustainability Officer, Johannesburg Stock Exchange
● Jolly Mokorosi, Independent Retirement Fund Professional, Batsetsa Asset Owners Forum
● Berit Lindholdt-Lauridsen, Senior Climate Finance Specialist, IFC
Rebuilding Resilience through Sustainable Finance. June 25, 2020
In light of the coronavirus pandemic, sustainable finance is more important than ever to help countries rebuild and become more resilient. It is a powerful tool to deepen financial stability and public-private partnerships to address urgent social and environmental priorities. Low-income countries are accustomed to innovating in response to urgent challenges and economic constraints. Despite challenges, low-income countries in the SBN community are at the forefront of the new trend towards sustainable financial markets. This webinar presents exclusive country insights from the SBN report Necessary Ambition: How Low-Income Countries Are Adopting Sustainable Finance to Address Poverty, Climate Change, and Other Urgent Challenges, launched on June 22. The report is the first comprehensive review of drivers and innovation behind market-level efforts to promote sustainable finance in low-income countries. It includes 16 case studies, 8 country reports, and practical decision-making tools based on countries' various experiences. The webinar featured opening remarks by IFC Vice President, and presentations by four SBN member countries – Bangladesh, Kenya, Mongolia, and Nigeria – about their national journeys to promote a financial sector shift to sustainable finance practices. It also explored how the integration of sustainable finance can contribute to a country's overall development ambitions.
● Georgina Baker, Vice President of IFC, Chair of SBN Secretariat
● Batmunkh Batbold, Coordinator of SBN Task Force
● Nomindari Enkhtur, CEO of the Mongolian Sustainable Finance Association
● Asif Iqbal, Joint Director, Bank of Bangladesh
● Aisha Mahmood, Special Advisor to the Governor on Sustainable Banking, Central Bank of Nigeria
● Nuru Mugambi, Director, Kenya Bankers Association
● Louise Gardiner, Coordinator of SBN African region & Green Bond Working Group
Presentation: Rebuilding Resilience through Sustainable Finance
Environmental Information Disclosure by Financial Institutions and Green Bond Issuers. April 2, 2020
This webinar focuses on disclosure by financial institutions and green bond issuers, and is oranized into two sessions. Speakers from commercial banks, asset managers, MDBs, the academia and international organizations stated that the COVID-19 outbreak have made investors more aware of the importance of green and sustainable development. Iberdrola, the Spanish utilities company, received 11.5 times over-subscription for its most recent issuance of green bonds. Speakers also pointed out during the webinar that the size of responsible investment worldwide has already reached USD30 trillion, and is estimated to grow by 34 percent to reach USD40 trillion by 2021. However, the lack of consistency in disclosing ESG data poses a major barrier to the further growth of responsible investment. Although many countries and international organizations have released guidance on disclosing environment-sensitive information, the inconsistencies of standards and differences in data granularity and quality are hindering the improvement of companies’ ESG performances, the decision making of investors and analyses by research institutions. The webinar was co-hosted by IFC-supported Sustainable Banking Network (SBN), Tsinghua University Green Finance Center and World Bank Global Knowledge and Research Hub in Malaysia, supported by UK PACT. Jointly launched by the IFC-supported SBN and Tsinghua University in 2018, the Global Green Finance Leadership Program (GFLP) successfully held five events and covered more than 600 participants from 59 countries and regions around the world, mostly from the emerging economies.
● Arsalaan Oz Ahmed, CEO HSBC Amanah Malaysia
● Frédéric Samama, Co-Head Institutional Clients Coverage, Amundi
● Tan Ai Chin, Head of Global Investment Banking & Corporate Development, OCBC Bank Malaysia
● GENG Crystal, ESG Expert, Ping An Group
Trends in Taxonomy Development and Lessons from Emerging Markets. February 20, 2020
Recent years have seen rapid growth green bonds and loans that promise positive environmental impact and a proactive response to climate change. Similar instruments are also emerging that seek social and sustainability impacts in line with the Sustainable Development Goals (SDGs). As investor demand increases for these types of offerings, and as the types of assets broaden, there is greater scrutiny of the definitions that are applied and the reporting by issuers on impacts they have achieved. At global level, a number of leading initiatives have emerged to offer agreed classifications that can underpin sustainable finance products. This taxonomy will influence global issuances that seek to comply with the requirements of European investors. Other global taxonomies and definitions of green bonds include the Climate Bonds Taxonomy by the Climate Bonds Initiative, the International Capital Markets Association Green Bond Principles eligible projects, and the IFC Definitions for Climate-Related Activities. In emerging markets, a growing number of SBN member countries are issuing either lists of eligible sectors and projects or more comprehensive taxonomies that include technical criteria and monitoring guidance. For example, China issued its first Green Bond Taxonomies in 2015 and went on to contribute to approximately 30% of global green bond issuance in 2016. The most recent country to adopt a national green taxonomy is Mongolia, which has been an active member of SBN since 2012. In December 2019, Mongolia completed an extensive consultation to develop a national taxonomy based on the China experience and other international good practices. This webinar shares latest development insights from key global initiatives, as well as an in-depth discussion of the Mongolia experience in designing a national taxonomy based on international good practice.
● Sean Kidney, CEO of the Climate Bonds Initiative (CBI)
● Nomindari Enkhtur, Advisor to the Mongolian Sustainable Finance Initiative (MSFA)
● Oyungerel Munkhbat, Project and Partnership Manager Mongolian Sustainable Finance Association (MSFA)
● Louise Gardiner, Africa and Green Bonds Coordinator, Sustainable Banking Network (SBN), IFC
Creating Green Bond Markets in Africa. February 7, 2019
Globally, as much as $7 trillion a year in investments will be needed to achieve the Sustainable Development Goals by 2030. IFC research has identified US$23 trillion in climate-focused investment opportunities alone for 21 emerging-market countries in that time. Green, social and sustainability bonds are new types of bond instruments that facilitate these investments and can help countries to achieve national sustainable development roadmaps. With that in mind, in 2018 the IFC-facilitated Sustainable Banking Network (SBN), guided by members and experts from 21 countries and 30 organizations, and in partnership with the Climate Bonds Initiative (CBI), reviewed regulatory efforts in over 22 emerging markets to promote issuance of green and sustainability bonds. This webinar presents exclusive insights from the report "Creating Green Bond Markets", the most comprehensive review to date of the green bond trend in emerging markets and offering the first practical Green Bond Market Development Toolkit. It features presentations by the Climate Bonds Initiative (CBI) – report co-authors – and the Morocco Capital Market Authority (AMMC) – co-chair of the SBN Green Bond Working Group – on what these findings mean for African countries. It also explores how African countries can further unlock the shared opportunities in green and inclusive investment across the continent.
● Sean Kidney, CEO of the Climate Bonds Initiative (CBI).
● Yasser Mounsif, Head of Corporate Finance and Financial Disclosure at the AMMC (Moroccan Capital Market Authority).
● Jennat Benhida, Head of Regulation Unit at the AMMC (Morocco's Capital Market Authority) and an Associate Professor at the Mohammed V University of Rabat.
● Louise Gardiner, Africa and Green Bonds Coordinator, Sustainable Banking Network (SBN), IFC.