Andreas Novio Tjendro’s Post

Unprecedented changes in our climate now occur much more frequently and with greater intensity. In response to these challenges, Bank Negara Malaysia (BNM) launched its methodology paper, which outlines the framework for conducting climate risk stress testing (#CRST). KPMG's team of ESG specialists have put together this guide to help financial institutions to prepare for the CRST. Download now: https://lnkd.in/gdT2QXgH #ClimateRiskStressTesting #climaterisk #ESG #financialservices

LIVE NOW: Ajith Kumar A, Vice President & Head - Market Risk & ESG, Federal Bank sharing his insights at the Climate Transition - A Banker's Perspective webinar.   auctusESG | Association of Development Finance Institutions of Malaysia (ADFIM) | Association of Development Financing Institutions in Asia and the Pacific (ADFIAP)   #ClimateTransitionWebinar #BankingPerspective #ClimateInsights #FinanceStrategies #SustainableFinance #ClimateActionNow #WebinarAlert #SustainableFinance  

Recently, Bank Negara Malaysia issued the Methodology Paper for the 2024 Climate Risk Stress Testing (CRST) exercise. This marks a significant step towards understanding and mitigating the financial sector's exposure to climate-related risks.   We are pleased to share our point of view on this meaningful initiative which is essential to ensure the resilience and readiness of financial institutions against the backdrop of an evolving climate landscape. By simulating various long-term climate scenarios, the CRST methodology aims to guide financial institutions to forecast and strategize against potential economic impacts, whilst aligning with international efforts to promote a low-carbon economy.   Curious about how it impacts your institution or looking for guidance on how to comply with the expectations set by BNM for the upcoming industry wide CRST exercise? Deloitte is ready to support your organisation in this journey. Reach out to us for insights and support – let's navigate the future of sustainable finance together.   #CRST2024 #ClimateRisk #FinancialResilience #BNM

𝐉𝐮𝐬𝐭 𝐢𝐧 𝐓𝐢𝐦𝐞 "𝐄𝐂𝐁 𝐒𝐭𝐚𝐟𝐟 𝐎𝐩𝐢𝐧𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐅𝐢𝐫𝐬𝐭 𝐒𝐞𝐭 𝐨𝐟 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬" As part of the European Union activities for the development and approval of the Corporate Sustainability Reporting Directive (CSRD), which introduces disclosure requirements on sustainability topics for firms in the EU, on 22 November 2022 the European Financial Reporting Advisory Group (#EFRAG) submitted a first set of European Sustainability Reporting Standards (ESRS) to the European Commission. Consequently, on 25 November 2022 the European Central Bank (#ECB) was consulted by the European Commission to provide technical advice on the proposed set of standards. Accordingly, the ECB Staff prepared an opinion, published in January 2023, to provide the Commission with a feedback and to suggest possible adjustments and improvements on elements of relevance to the ECB’s tasks and to better align the standards to the prudential framework. The ECB Staff opinion focuses predominantly on the standards that were considered most relevant to the ECB’s tasks, namely: ESRS 1 (General Requirements), ESRS 2 (General Disclosures), ESRS E1 (#Climatechange), Other environmental standards. The present document provides an overview of the main points highlighted by the ECB Staff and summarizes the main feedbacks provided on each of the aforementioned standards. Author: Vincenzo Frasca #Sustainabilityreporting #CSDR #Environmentalstandards #ESRS

Glad to know that banks are committing more funding to help Malaysian businesses to transition to ESG practices, by: • greening the value chain: providing technical training and tools to SMEs to report carbon emissions; • standardising due diligence: helping businesses with the financing applications; • providing a climate data catalogue: listing granular data for businesses. According to BNM, the financial industry allocated RM240 billion to ESG last year, compared with RM110 billion in 2022. #esg #sustainability

The article on World Bank Blogs discusses the importance of Environmental, Social, and Governance (ESG) guidelines for the banking sector in the Kyrgyz Republic. It highlights how these guidelines are designed to manage risks associated with climate change and align with global sustainability standards, such as the Paris Agreement. Banks are encouraged to integrate ESG factors into their business planning and risk management. By the way, only one bank in Kyrgyzstan has an ESG report, and only one bank is a signatory of the UN Global Compact. https://lnkd.in/diNyDpd6 #ESG #GreenBanking #KyrgyzRepublic #UNGlobalCompact

European Securities and Markets Authority (ESMA) Sets Out Rules for External Reviewers of EU Green Bonds #EU #Greenbonds #regulators #sustainablefinance #greeninvesting #ESG #ESGNews

The ESG regulatory environment continues to evolve at lightning-speed. Sustainable Fitch’s’ ESG Regulation and Reporting Standards Tracker, launched in 2023 and updated quarterly, allows to keep track of the many regulation announcements. Join Sustainable Fitch for an engaging discussion on the tracker’s latest update, looking at key regulatory milestones for 2024 and at #ESG and #climate #regulation #trends for #banks.   Topics for discussion include: - The most impactful recent regulatory updates, including the EU’s SFDR consultation, the US’s fund name rule, the UK’s Transition Plan Taskforce, the launch of the Singapore-Asia Taxonomy, and more. - The regulatory outlook for 2024, and which regulations need to be monitored in the year ahead. - Key ESG and climate-related regulation trends for banks, and how will they impact their ESG Ratings. We hope you can join us! Register with link below 👇 https://lnkd.in/eMZfccqg

The Central Bank of the Republic of Azerbaijan (CBA) is aiming to develop a framework that would unite green and sustainable finance taxonomies globally ahead of Cop29, according to the central bank’s director Shahin Mahmudzade, CFA. The CBA is working with the International Platform on Sustainable Finance and the Sustainable Banking and Finance Network (SBFN) to create the global taxonomy and plans to present its framework and suggested roadmap at Cop29, which is being held in Azerbaijan in November. If adopted, it would be taken forward by future Cop presidencies. According to Responsible Investor, CBA will present their proposal to the Brazilian finance ministry next month in Rio de Janeiro, in the hope that Brazil continues the work when it hosts Cop30 in 2025. Read more: GreenCB.co/3XagXdR #Cop29 #GreenTaxonomy

This study analyzes the financial impact of Corporate Social Irresponsibility (CSI) events on European banks using a dataset of 11,832 reputational shocks from 2007-2023. Results show significant negative stock returns and increased volatility following CSI media coverage, with proactive ESG engagement mitigating these effects.