OJK Optimistic ASEAN Can Grow Inclusively, Sustainably

TEMPO.CO, Jakarta - The Financial Services Authority (OJK), as the chair of the 2023 ASEAN Capital Market Forum (ACMF), is optimistic that ASEAN can script fast, inclusive, and sustainable economic growth.

OJK's Chief Executive for Capital Markets, Financial Derivatives, and Carbon Exchange Supervision Inarno Djajadi delivered the remarks at the 38th ACMF Chairs’ Meeting, which was held in a hybrid (offline and online) format in Yogyakarta on Monday.

"Approaching 2030, we must be able to realize the national commitment of NDC (Nationally Determined Contributions) on reducing greenhouse gas emissions and towards the goal of net zero emissions," Djajadi stressed on Tuesday.

He said he is optimistic that the ACMF, as a regional capital market regulatory group, can contribute to ASEAN countries' economic transition toward a low-carbon economy, especially in the six sectors prioritized in the ASEAN Taxonomy Version 1.

ACMF will also develop a transition guideline so that companies can carry out the transition process in a transparent and credible manner, he informed.

The meeting also discussed the development and the transition of the Voluntary Carbon Market (VCM) guideline, focusing on the aspects of disclosure.

"Regarding these two important topics, guidelines of VCM and its transition, we ask for support from all members to ensure that the determined targets can be achieved," Djajadi said.

ACMF will continue to strengthen collaboration with the International Sustainability Standards Board (ISSB) on encouraging corporate sustainability disclosure, building awareness, increasing green economy technical competence, and bolstering knowledge transfer.

This year, ACMF is looking forward to launching the Sustainable Finance Knowledge Hub, the ASEAN Green Lane, and the publication of the revised ASEAN Corporate Governance Scorecard (ACGS).

The revised ACGS combines sustainability elements so they are in parallel with the revised Organisation for Economic Co-operation and Development (OECD) Principles.

Furthermore, based on data from the ASEAN Green, Social, and Sustainability Bond Standards introduced in 2017 and 2018, ASEAN-labelled green, social, or sustainable bonds worth about US$38.06 billion have been issued as of March 15, 2023.

ANTARA

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