IFN OnAir

Ratings play a significant role in the voluntary carbon market space.  Marlena Kareem, the editor of ISFI, speaks to Ronan Carr, the chief research officer at BeZero Carbon, about the role of ratings in the carbon market, its recent issuance of the world’s first pre-issuance rating for a carbon project as well as the mispricing of carbon credits.

What steps are necessary to ensure Islamic sustainable investors are offered a common definition of climate risk standards in ASEAN? What is driving innovation of Islamic sustainable and social finance and investment products, and are we successfully creating products which satisfy both Shariah and ESG requirements? How do systematic tilts in portfolio allocation resulting from Shariah screens influence ESG integration in the development of Shariah-screened ESG funds? What is the role of the asset management sector in directing capital to social causes, and how can Waqf be further deployed to facilitate this? How are investors using ESG data and indices to benchmark and measure portfolio performance and is data still a challenge for the industry? We ask an expert panel.

Moderator:

Vineeta Tan, Managing Editor and Director, Islamic Finance news

Panelists:

Amit Pathak, Director, Head of ESG Index Products for Asia Pacific, S&P Dow Jones Indices
Elias Moubarak, Partner, Trowers & Hamlins
Shahariah Shaharudin, President, Saturna Malaysia

What is driving the shift toward transition and sustainability-linked bonds and Sukuk issuance, and how do we maintain this momentum? What options do the deployment of sustainability-linked financing structures offer issuers, and are they properly understood? How do we better identify viable underlying assets for transition and sustainability-linked issuance, while also verifying the actual uses of proceeds? What role does transition and sustainability-linked finance play in the development of sustainable projects and infrastructure development? How can adherence to KPIs in the post-issuance process be assured and what tools are available for this purpose, such as second-party opinions and external review? We seek the views of an expert panel.

Moderator:

Marlena Kareem, Editor, Islamic Sustainable Finance & Investment, REDmoney Group

Panelists:

Dr Ayaz Ismail, Director – Wholesale Banking, CIMB Islamic Bank
Basheer Ahmad, Listing Authority, Markets, Dubai Financial Services Authority
Jeffrey Lee, Vice-President, Regional Manager APAC, Sustainable Finance, Moody’s Investors Service
Millie Yap, Director, Debt Capital Markets, HSBC
Dr Mohamad Zabidi Ahmad, Regional Chief Representative, DDCAP Group

• Do currently available taxonomies adequately address sector-specific transition concerns and what are salient additions to later versions?
• Assessing disclosure requirements and developing an effective climate change curriculum for financial institutions
• How are governments and exchanges enabling the trading of carbon credits, and what are the objectives and benefits of such initiatives?
• Defining the role of the financial sector in facilitating an effective energy transition in conjunction with the National Energy Policy
• How will the pace of adoption of ESG by SMEs impact the banking sector and capital markets?

Moderator:

Sharifatul Hanizah, Executive Director, Islamic Capital Market Development, Securities Commission Malaysia

Panelists:

Bilal Parvaiz, Executive Director and Head Islamic Corporate, Commercial and Institutional Banking, Standard Chartered Saadiq
Louis Booth, APAC Commercial Lead, Sylvera
Mohd Ekmal Mohd Zazi, Regional Head, Wholesale Banking, CIMB Islamic Bank
Sedef Gunsur, Senior Investment Officer, Financial Institutions Group, International Finance Corporation

Interviewee: Azman Mokhtar, Chairman, Malaysia International Islamic Finance Centre Leadership Council

Interviewer: Zainal Izlan Zainal Abidin, Former Deputy Chief Executive, Securities Commission Malaysia

Marlena Kareem, Editor, Islamic Sustainable Finance & Investment, REDmoney Group

What does a successful strategic roadmap for advancing transition look like? Are current policies and actions sufficiently aligned with climate risk? Are the various climate taxonomies conflicting or complementary, and how do we offer a clear and consistent message? Are tax and operational cost incentives for companies and issuers sufficient, and are current regulatory frameworks encouraging product and market innovation? Finally, how do we effectively position and market Islamic sustainable finance and investment, and what would represent meaningful goals for the sector?

Moderator:

Vineeta Tan, Managing Editor and Director, Islamic Finance news

Panelists:

Lim Beng Guan, Executive Director, reNIKOLA Group of Companies
Mushtaq Kapasi, Managing Director, Chief Representative Asia-Pacific, International Capital Market Association
Nor Masliza Sulaiman, Deputy CEO, CIMB Investment Bank
Raja Amir Shah Raja Azwa, CEO, HSBC Amanah

Keynote Address

Dr Awang Adek Hussin, Executive Chairman, Securities Commission Malaysia

UK-headquartered Autarky Sukuk's latest offering serves investors looking for a Shariah compliant investment based on real estate in the UK. Co-founders Shoaib Bux and Yasin Patel speak to IFN's Nessreen Tamano about the challenges and opportunities in the market.

Adnan Zaylani Mohamad Zahid, Deputy Governor, Bank Negara Malaysia