CAREC Chai IX Webinar Delivers Insights on ESG Compliance and Sustainable Finance in the Region
The CAREC Institute, in collaboration with the Asian Development Bank, successfully organized the 9th CAREC Chai event, titled “Simplify ESG Compliance: Insights, Tools, and Regional Perspectives,” on May 23, 2024. The webinar brought together policymakers, investors, and stakeholders from across the CAREC region to deepen understanding, exchange insights, and explore actionable strategies for advancing Environmental, Social, and Governance (ESG) integration and sustainable finance. The webinar aimed to address the urgent need to balance economic growth with environmental protection and social factors such as human rights, education, gender equality, and welfare in the region.
Mr. Kabir K. Jurazoda, Director of the CAREC Institute, delivered the opening remarks, emphasizing the critical role of ESG in shaping a sustainable and secure future for the region. “In today’s rapidly evolving landscape, the integration of Environmental, Social, and Governance principles is not just a choice but a necessity for ensuring the long-term sustainability and prosperity of our region,” said Mr. Kabir Jurazoda.
During the first keynote presentation, Mr. Alexander von Gleich and Mr. Fabius Lenhart from Climcycle Software Company introduced Climcycle, a comprehensive ESG software suite. This software is tailored to conduct physical climate risk assessments, CO2 emissions calculations, ESG risk scoring, and stress testing for global stakeholders. Climcycle’s objective is to simplify ESG compliance processes and improve sustainability practices within organizations by offering customized solutions for managing environmental, social, and governance responsibilities.
Ms. Hongtao Shen from the School of Management at Jinan University, Guangzhou, PRC, delivered the second keynote presentation focusing on the “Key Findings from ‘ESG in China: A review of practice and research, and future research avenues.” Ms. Shen shared key research findings on ESG implementation in Chinese organizations, highlighting the importance of integrating ESG considerations into business strategies. The presentation aimed to provide insights into the progress, challenges, and future research directions for ESG adoption in China, emphasizing the need for continuous improvement and innovation in this area.
Ms. Lihong Chen from the Ministry of Finance of the PRC presented her Economic Brief, offering insights into the economic aspect of ESG within the CAREC region. Ms. Chen discussed the impact of ESG practices on economic development in the region and emphasized the role of sustainable finance in building resilience and promoting sustainability. The presentation underscored the significance of integrating ESG principles into financial decision-making processes to drive long-term growth, stability, and positive environmental and social outcomes in the CAREC region.
The panel discussion featured international experts such as Mr. Naoyuki Yoshino, Professor Emeritus of Economics at Keio University, Japan, Mr. Fu Xin, Associate Professor at the Business School of Hohai University, China, and Mr. Kuat Akizhanov, Deputy Director Two at the CAREC Institute, centering on ESG investment, green bonds, and SME green policies. The experts shared insights on the challenges faced by member economies in the region, including data access, policy frameworks, and evaluation agencies. The discussion emphasized the importance of collaboration, knowledge sharing, and regional cooperation to build resilient and sustainable economies in the CAREC region. Key stakeholders highlighted the need for international experience, strengthened regional exchange, and the development of sustainable finance mechanisms to support ESG infrastructure and drive green economic growth in the region.