Maybank hosts the first transition finance workshop with IIF in Malaysia, empowering over 120 corporates towards sustainable economic transformation

In efforts to drive transition finance and leading up to the Conference of the Parties 28 (COP28), Maybank hosted the inaugural Institute of International Finance (IIF) – Maybank Transition Finance Workshop with the primary focus on developing and implementing transition plans as well as views on policy and regulatory aspects to achieve a low-carbon economy.  

The IIF-Maybank Transition Finance workshop also serves as a capacity building initiative on transition finance, enabling them to decarbonise their businesses through a credible and orderly manner, aligning to international practices and principles.

The workshop hosted in Kuala Lumpur was graced by Datuk Jessica Chew, Deputy Governor of Bank Negara Malaysia and saw the collaboration of IIF, represented by Ms. Sonja Gibbs, Managing Director and Head of Sustainable Finance IIF and Mr. Emre Tiftik, Director of Sustainability Research IIF and Maybank, led by its Group President & CEO, Dato’ Khairussaleh Ramli.

Over 120 attendees consisting of eminent regional and local corporates and financial institutions attended the workshop which had interactive sessions and knowledge exchange to deep dive into the fundamentals of transition finance alongside the challenges and opportunities in this space.

Speaking at the event, Dato’ Khairussaleh Ramli said that combatting climate change requires a fundamental transformation in business and finance and that the IIF-Maybank Transition Finance Workshop was curated as an avenue to engage key stakeholders on the various areas that contribute towards building and reinforcing a credible, orderly and just transition plan.

“With Asia set to become the largest global emissions source, there is a heightened need to develop credible transition plans, which will be the foundation of a structured transition to net zero. To avoid the most severe climate change outcomes, we need to significantly reduce emissions.”

“Maybank is committed to playing a lead role in the transition to a low carbon economy through a principled-pragmatic approach of engagements and collaboration, in our pursuit of a just transition. This philosophy and practice is underpinned by our Humanising Financial Services mission,” added Dato’ Khairussaleh.

Speakers of the workshop presented key topics on achieving climate transition, roles of the financial sector to unlock private climate finance, financing towards energy transition, as well as notable global case studies on net-zero transition in practise.

In her opening remarks, Sonja Gibbs said “To be co-organizing this transition finance event with Maybank here in Kuala Lumpur is a real privilege.  We’ve held over 15 of these workshops now in financial centers all over the world, and each has brought together a fascinating cross-section of financial firms, policymakers, regulators, philanthropic organizations, academics and other parts of the sustainable finance ecosystem. From the resourceful topics discussed during the workshop, participants were exposed to solutions and resources to navigate financial transitions and thrive in their financial goals."

L-R: Sonja Gibbs, Managing Director and Head of Sustainable Finance, Institute of International Finance (IIF) moderating one of the panel sessions at the IIF– Maybank Transition Finance Workshop entitled ‘Achieving Climate Transition in Asia/ASEAN’ participated by Yuki Yasui, Managing Director, Asia Pacific Network, Glasgow Financial Alliance for Net Zero (GFANZ), Shahril Azuar Jimin, Chief Sustainability Officer Maybank and Valerie Lau, Co Head of Sustainable Finance Asia-Pacific (APAC) UBS AG.

The workshop was put in motion with a discussion on the topic of ‘Achieving Climate Transition in Asia and ASEAN’, moderated by Sonja Gibbs. As global financial firms transition towards a net-zero future, transition planning has become crucial in order to finance solutions that effectively combat climate change whilst adequately safeguarding other environmental, social and economic objectives. Shahril Azuar Jimin, Chief Sustainability Officer Maybank and Yuki Yasui, Managing Director, Asia Pacific Network, GFANZ and Valerie Lau, Co Head of Sustainable Finance APAC UBS AG shared their views on required climate targets and metrics to set across complex business models and discussed on how different stakeholders from both public and private can best work together to catalyse instruments such as blended finance.

A panel discussion on ‘Financing the Energy Transition’ took centre stage as it raised issues on how the rapid and drastic decarbonisation of the power sector in the ASEAN region has been constrained by concerns about energy security and socioeconomic vulnerabilities. Moderated by Emre Tiftik, Tom Clark, General Counsel of Asian Development Bank, Helena Fung, Head of Sustainable Finance and Investment APAC LSEG and Liza Jansen, Head of Responsible Investment Prudential opined on ways to ensure the success of the ASEAN energy transition, while putting in place proper governance to address the socioeconomic factors that are key to a just transition and on how to accelerate the energy transition whilst preventing potential carbon lock-in.

Speakers for the IIF-Maybank Transition Finance Workshop
L-R: Chai Jia Jun, Group Chief Strategy Officer, Yinson Holdings, Yuki Yasui, Managing Director, Asia Pacific Network, Glasgow Financial Alliance for Net Zero (GFANZ), Rebecca Abramson, Associate Partner, McKinsey, Tom Clark, General Counsel, Asian Development Bank, Shahril Azuar Jimin, Chief Sustainability Officer Maybank, Sonja Gibbs, Managing Director and Head of Sustainable Finance, Institute of International Finance (IIF), Priya Bellino, Head of Sustainability Solutions Group Asia-Pacific (APAC), Sumitomo Mitsui Banking Corporation (SMBC), Emre Tiftik, Director of Sustainability Research, Institute of International Finance (IIF), Valerie Lau, Co Head of Sustainable Finance Asia-Pacific (APAC) UBS AG, Helena Fung, Head of Sustainable Finance and Investment Asia-Pacific (APAC), London Stock Exchange Group (LSEG) and Liza Jansen, Head of Responsible Investment, Prudential.

Attendees were also engaged in multiple presentations on topics such as; ‘Financial Sector Policies to Unlock Private Climate Finance’ presented by Charlotte Gardes-Landolfini, Climate Change, Energy and Financial Stability Expert, IMF. Jewel Bautista, Director, Industry Practice Lead, Moody’s Analytics provided insights on ‘Navigating Firm Transitions: Cascading Transition Planning and Considerations for Lenders’ and Rebecca Abramson, Associate Partner, McKinsey presented on the topic of ‘Financing the Net Zero Transition: From Planning to Practice’.

Datuk Jessica Chew, Deputy Governor of Bank Negara Malaysia (center left in black) and Dato’ Khairussaleh Ramli, Group President & CEO Maybank (center right in black) with respective speakers and attendees of the IIF-Maybank Transition Finance Workshop in Kuala Lumpur.

The IIF is the global association of the financial industry, with about 400 members from more than 60 countries. The IIF provides its members with innovative research, unparalleled global advocacy, and access to leading industry events that leverage its influential network. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth.