The 39th ASEAN Capital Markets Forum (“ACMF“) Meeting made several inroads in driving transition towards sustainable capital markets in the region. Salient items are outlined below.
- The Meeting endorsed the ASEAN Transition Finance Guidance (Version 1, 17 Oct 2023).
- The Meeting also endorsed the Handbook for Cross-Border Offerings of ASEAN Sustainable and Responsible Funds under the existing Framework for the Cross-Border Offering of ASEAN Collective Investment Schemes (“CISs“) (“ASEAN CIS Framework“).
- It endorsed an initial report on preliminary findings on the overall state of development of voluntary carbon markets in ASEAN and disclosure principles in carbon offsetting.
- It also approved the revised ASEAN Corporate Governance Scorecard to align with the revised G20/OECD Principles of Corporate Governance (“Principles“).
- The Meeting noted that there are encouraging steps by ACMF jurisdictions with existing sustainability reporting regimes to consider the adoption of the International Sustainability Standards Board (“ISSB“) Standards domestically. The protocol for ACMF-IFRS Foundation Dialogue on International Financial Reporting Standards (“IFRS“) Sustainability Disclosure Standards was signed.
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