As industrialization places unprecedented strain on the environment, the demand for sustainable finance has reached critical levels. Asia currently accounts for less than 1% of the global sustainable investment market, indicating a tremendous opportunity for growth. Addressing this gap, the 2024 Global Forum, co-hosted by Singapore Management University (SMU) and Zhejiang University (ZJU), will convene on October 26 with the theme, “Innovation, Green Finance, and Sustainable Development.” This event brings together global leaders in academia, industry, and policy to advance strategies for sustainable development, especially in Asia’s rapidly evolving financial landscape.
Transition Finance: A Practical Path to Emission Reduction
At the forum, transition finance will be a core topic of discussion. This innovative financial approach enables high-emission sectors to shift toward greener practices gradually, helping to reduce emissions without hindering economic growth. Transition finance is particularly relevant for Asia, where sustainable finance could unlock significant economic opportunities while addressing environmental challenges. By adopting such financial strategies, Asia can play a pivotal role in achieving global sustainability goals.
Expert Insights from Global Leaders
The Global Forum 2024 will feature an impressive lineup of experts sharing perspectives on sustainable finance:
- Prof. Liang Hao, from SMU, a leading authority on impact investing and transitioning carbon-heavy sectors to greener practices, will provide valuable insights on leveraging financial tools for low-carbon transitions in Asia.
- Prof. Shawn A. Cole of Harvard Business School will share global insights into financial services and impact investing, offering lessons applicable to Asia’s unique market dynamics.
- Mr. Zhang Dachuan, Head of ESG Business at J.P. Morgan Asset Management (China), will discuss integrating ESG standards into profit models, crucial for driving profitable, sustainable business practices in China.
- Prof. Wang Tan from Shanghai Jiao Tong University and Dr. Wu Haifeng from CUHK Shenzhen will delve into topics ranging from carbon markets to green technology innovation, expanding the forum’s multifaceted approach to sustainable finance.
Through their insights, attendees will gain a deeper understanding of how Asia can drive its economic growth and sustainability goals.
SMU’s Leadership in Sustainable Finance
As a regional leader in sustainable finance, SMU is actively integrating academic insights with practical applications. Its flagship initiative, the Singapore Green Finance Centre (SGFC), developed in partnership with Imperial College London and supported by the Monetary Authority of Singapore, conducts pioneering research and training to foster sustainable finance expertise across the region. The SGFC provides executive education and training programs that prepare financial professionals to lead Asia’s transition to a low-carbon economy.
SMU’s commitment to global partnerships with institutions like Shanghai Jiao Tong University, CUHK Shenzhen, Harvard University, and Imperial College London continues to expand its influence in sustainable finance, solidifying SMU’s role in shaping Asia’s sustainable finance landscape.
A Collaborative Platform for Global Solutions
Since its inception, the Global Forum has served as a platform for East-West collaboration. In this 13th edition, SMU and ZJU aim to foster an environment where thought leaders can share insights, propose solutions, and drive action for global sustainability. This year’s event provides a unique opportunity for participants to explore how transition finance and other innovative financial tools can meet the dual challenges of economic growth and sustainability.
As Prof. Liang Hao of SMU notes, “Transition finance offers a pathway for industries to embrace sustainable practices without sacrificing growth. This is vital for Asia’s economy and the global push toward a low-carbon future.”
Empowering Sustainable Growth in Asia
The 2024 Global Forum is set to be more than just an academic gathering. It is a collaborative endeavor where thought leaders from Asia and beyond come together to explore how sustainable finance can shape the future. By championing green finance, technological innovation, and responsible growth, Asia is positioning itself as a key player in the global sustainability agenda.
As the world grapples with pressing environmental issues, forums like these are crucial for fostering dialogue, exploring sustainable finance solutions, and advancing practices that benefit economies and ecosystems alike. The event in Singapore and China is expected to lay the groundwork for Asia’s next steps in sustainable finance, bringing us one step closer to a sustainable, inclusive, and resilient global economy.
