We have recently officiated a tripartite collaboration with Invest Sarawak, and UN Global Compact Network Malaysia & Brunei to accelerate an inclusive climate transition for small and medium enterprises (SMEs) under the “Climate Inclusive Financing & Development Programme”. Alliance Bank will be extending RM1 billion in green financing to enable Sarawakian SMEs environmental, social and governance (“ESG”) roadmaps towards sustainable-trade readiness and business resiliency. A Memorandum of Understanding ceremony was held in Kuching recently to mark the partnership and was witnessed by Datuk Amar Haji Awang Tengah bin Ali Hasan, Deputy Premier of Sarawak and Minister of International Trade, Industry and Investment. At Alliance Bank, we are not only providing banking but also non-banking solutions to help our customers meet their challenges especially in an increasingly competitive marketplace nowadays. As #TheBankForLife, we aim to be our customers' trusted partner who will put our business partners interest at the top priority, and someone who our business partners can always turn to in times of need. Read more about the collaboration here: https://bit.ly/49FFQDr #ESG #Sustainability #ForTheFuture
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Another day to Malaysian Investment Development Authority launching its Domestic Investment Accelerator Fund (DIAF), an incentive for #esgadoption! It is a #malaysian government's effort towards #capacitybuilding in accordance with #iesg of the Ministry of Investment, Trade and Industry. Malaysian exports and #fdi will definitely escalate with #sustainability being made a business imperative since #environmentalsocialandgovernance is expected to be a global solution to addressing #globalwarming. Malaysian Association of Public Advocacy for Nature (MAPAN) will be sharing on how #esg could be the catalyst for productivity improvement, cost reduction and market enlargement. Complying to Bursa Malaysia sustainability recommendations is a #costeffective and #timeefficient economic approach ideal for #sme who service #plc which are required to be #esgcompliant by next year. Time is running short and actions need to be #yesterday because 2024 is just around the corner. #climateactionnow #decarbonization
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Some few first steps.
The World Bank Treasury’s Green and Sustainable Finance Advisory Program within my team continues to make strides in helping clients. Recently, Viet Nam’s oldest bank, BIDV (Bank for Investment and Development of Vietnam) issued their first-ever domestic green bond. This $104 million transaction represents a significant milestone in the country's sustainable finance landscape and its efforts to achieve net-zero emissions by 2050. We supported our client though a multi-institution, multi-team collaborative effort with the Finance, Competitiveness and Innovation (FCI) Global Practice and the International Finance Corporation (IFC). The BIDV green bond issuance is significant for several reasons: MOBILIZES PRIVATE CAPITAL FOR CLIMATE ACTION This issuance demonstrates the potential for green bonds to attract private capital towards climate and environmental projects in emerging markets. SETS A SCALABLE PRECEDENT The success of BIDV's bond paves the way for other Vietnamese financial institutions to follow suit, fostering the development of a domestic green bond market. SUPPORTS SUSTAINABLE DEVELOPMENT GOALS The proceeds from this bond will be used to finance projects aligned with Viet Nam's green growth strategy, contributing to a more sustainable future. Read more in this case study: https://lnkd.in/emmiemG4 #VietNam | #WorldBankTreasury | #SustainableFinance | #GreenBond | #ESG | #ClimateFinance #GreenFinance Carrie Turk, George Richardson, Niraj Verma, John Nasir, Jean Pesme, Mona Haddad, Zafer Mustafaoglu Farah Imrana Hussain, Ketut Ariadi Kusuma, Zsolt Bangó, Quan Ha Ngo, Aaron Levine, Manuela V. Ferro
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The World Bank Treasury’s Green and Sustainable Finance Advisory Program within my team continues to make strides in helping clients. Recently, Viet Nam’s oldest bank, BIDV (Bank for Investment and Development of Vietnam) issued their first-ever domestic green bond. This $104 million transaction represents a significant milestone in the country's sustainable finance landscape and its efforts to achieve net-zero emissions by 2050. We supported our client though a multi-institution, multi-team collaborative effort with the Finance, Competitiveness and Innovation (FCI) Global Practice and the International Finance Corporation (IFC). The BIDV green bond issuance is significant for several reasons: MOBILIZES PRIVATE CAPITAL FOR CLIMATE ACTION This issuance demonstrates the potential for green bonds to attract private capital towards climate and environmental projects in emerging markets. SETS A SCALABLE PRECEDENT The success of BIDV's bond paves the way for other Vietnamese financial institutions to follow suit, fostering the development of a domestic green bond market. SUPPORTS SUSTAINABLE DEVELOPMENT GOALS The proceeds from this bond will be used to finance projects aligned with Viet Nam's green growth strategy, contributing to a more sustainable future. Read more in this case study: https://lnkd.in/emmiemG4 #VietNam | #WorldBankTreasury | #SustainableFinance | #GreenBond | #ESG | #ClimateFinance #GreenFinance Carrie Turk, George Richardson, Niraj Verma, John Nasir, Jean Pesme, Mona Haddad, Zafer Mustafaoglu Farah Imrana Hussain, Ketut Ariadi Kusuma, Zsolt Bangó, Quan Ha Ngo, Aaron Levine, Manuela V. Ferro
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📈 Yesterday, OMFIF launched the 2023 Absa Group Africa Financial Markets Index, which evaluates African countries’ financial development based on measures of market accessibility, openness and transparency. This year's report shows that new financial assets are becoming available in Africa, including environmental, social and governance-based assets. Even though ESG products remain relatively scarce in Africa as they are listed in just nine AFMI economies, countries are looking to build their sustainable financial markets. 🌱 20 of the 28 AFMI countries now implement some form of #ESG initiatives (71%), up from 13 of the 23 countries covered by AFMI 2021 (57%). The most common policies for promoting sustainable financial markets have been to implement market standards regarding the issuance of ESG assets. Read the report, produced by OMFIF and sponsored by Absa, here: https://lnkd.in/ePMd42uk
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The successful issuance of the first-ever domestic green bond by Viet Nam’s oldest bank, BIDV (Bank for Investment and Development of Vietnam) constitutes a landmark in Viet Nam’s commitment to achieve a net-zero carbon emission target by 2050. The green bond was supported by The World Bank Sustainable Finance and ESG Advisory Program. Read more in this case study https://cutt.ly/WB-BIDV #VietNam #WorldBankTreasury #SustainableFinance #GreenBond #ESG #ClimateFinance #GreenFinance
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