“Catalysing Sustainable Finance To Transform The World”


The Sustainable Finance Institute Asia (“SFIA”) is an independent institute established to catalyse ideas on Sustainable Finance at the policy level, as well as propel action in support of those policy ideas in Asia, particularly in ASEAN. It aims to provide thought leadership and act as a one stop centre for Sustainable Finance in ASEAN through collaborations with governments, regulators, central banks, multilateral development banks, industry, academia and non-governmental organisations.

SFIA a neutral platform for Sustainable Finance that provides unbiased and credible policy recommendations and implementation support to countries in the region, particularly ASEAN countries;

We adopt an open architecture approach where both financial and resource partners will be encouraged to work with, and through, the Institute while keeping the actions and the outputs of the Institute unbiased and credible.

SFIA’s goal is to catalyse transformational change and action.

SFIA will provide a space for governments, research and academia, civil society and industry to identify issues, exchange ideas, develop strategies and implement solutions on Sustainable Finance.

SFIA’s open architecture model allows the participation of other subject matter experts to enable it to provide informed and enlightened policy ideas.


Be Passionate

we are passionate about our mission and we are committed to it

Be Respectful

we respect each other and the diverse views of our stakeholders

Be Innovative

we will find a way to get things done and overcome challenges

Be Independent and have Integrity

we will remain independent in the way we conduct ourselves and always act with integrity

Be Realistic and Make A Difference

we don’t wait for the perfect opportunity, but instead make every opportunity count.

SFIA drives its Sustainable Finance efforts through two inter-related and synergistic tracks – Green Finance and SDG Finance. Both these tracks will be integrated at the strategic level are executed through addressing policy and enabling action.




High Impact



Non-Executive Independent Director
Non-Executive Independent Director


Eugene Wong
“I want my grandchildren to say that their grandfather didn’t just sit and grumble, but instead contributed to the solution….”
Bambang Irawan
Programme Director
"The future is a function of the present. We have to act now."
Kenneth LIM
Collaborations and Coalitions Director
“No challenge is more urgent, and no solution is more rewarding, than sustainable development.”
Marini Md. Saari
Programme Manager
"Sustainability has to be a way of life for everyone, and not just the philosophy of a passionate few. That's the mission."
Min Shen, NG
"The most important thing is to make the most important thing the most important thing."
Stephanie NG
Collaborations and Coalitions Associate
"A little effort goes a long way. Love and appreciate our Earth, there is no 2.0."
Ing Peng, ONG
"MY3Ls – Learn from the past, Live in the present, Look forward to a sustainable future."
Suchitra Saayi d/o Sugumaran
Research Associate
“Susta(I)nable. The letter 'I' stands in the center of the word, which means it is our responsibility to act consciously for a better world today and tomorrow."


The ASEAN Taxonomy Board (ATB) is set up under the auspices of the ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM) and is jointly driven by the ASEAN Capital Markets Forum (ACMF), the ASEAN Insurance Regulators’ Meeting (AIRM), the ASEAN Senior Level Committee on Financial Integration (SLC) and ASEAN Working Committee on Capital Market Development (WC-CMD).

The ATB will develop, maintain and promote a multi-tiered ASEAN Taxonomy for Sustainable Finance (ASEAN Taxonomy) that will identify economic activities that are sustainable and help direct investment and funding towards a sustainable ASEAN.

The ASEAN Taxonomy will be the overarching guide for all ASEAN Member States (AMS), complementing their respective national sustainability initiatives and serving as ASEAN’s common language for sustainable finance. It will be designed to ensure that AMS have a framework that suits their economic and social structures that other frameworks may not be able to address.

Transition is a key element of ASEAN’s sustainability agenda and the ASEAN Taxonomy will incorporate an effective pathway to enable an orderly transition.

The Members of the ATB comprise representatives of ACMF, AIRM, SLC and WC-CMD. The current Board comprises of eight (8) Members, as follows:

  • Chair: Mdm. Noorrafidah Sulaiman, Deputy Managing Director (Monetary Operations, Development and International), Brunei Darussalam Central Bank 
  • Vice-Chair: Mr. Daniel Wang, Executive Director (Insurance), Monetary Authority of Singapore
  • Mr. Greatman Rajab, Senior Executive Analyst, Financial Services Authority of Indonesia
  • Mr. Fraziali Ismail, Assistant Governor, Bank Negara Malaysia
  • Mr. Zainal Izlan Zainal Abidin, Deputy Chief Executive, Securities Commission Malaysia
  • Mr. Dennis Funa, Commissioner, Philippines Insurance Commission
  • Ms. Gillian Tan, Assistant Managing Director (Development & International), Monetary Authority of Singapore
  • Mrs. Nawaron Dejsuvan, Assistant Governor, Bank of Thailand


The ATB now also includes co-opted Members, as follows:

  • Mrs. Fongchinda Sengsourivong, Director General (International Cooperation), Bank of Lao PDR
  • Mr. Zaw Naing, Director General (Financial Regulatory), Ministry of Planning and Finance of Myanmar
  • Mr. Vu Chi Dzung, Director General (International Cooperation), State Securities Commission of VietNam


The ATB is overseen by the AFMGM with the Sustainable Finance Institute Asia (SFIA) providing administrative support as host of the ATB.

News & Updates

JSFWG Industry Advisory Panel

The ASEAN Capital Markets Forum (ACMF) and the ASEAN Working Committee on Capital Market Development (WC-CMD) have established an Industry Advisory Panel (IAP) as their core industry interaction point to actively engage the private sector on ACMF and WC-CMD’s sustainable finance agenda and initiatives. The IAP will assist the ACMF and WC-CMD to better understand the views, ideas and needs of the private sector, and it will also serve as an avenue for ACMF and WC-CMD to share their perspectives with the industry.

The IAP currently comprises 15 member organisations from the three main segments of the financial ecosystem – capital markets, banking and insurance, as well as other finance professionals and financial services providers including from the legal, accounting and credit rating fields. The members also represent a mix of both regional and global interests. The Sustainable Finance Institute Asia (SFIA) has been appointed as convener of the IAP.

As the key industry interaction point on sustainable finance for ACMF and WC-CMD, the IAP will be an advocate for the ASEAN sustainable finance agenda, contribute ideas and resources, support ACMF and WC-CMD’s sustainable finance initiatives, and dialogue with ACMF and WC-CMD on sustainable finance issues.

The IAP operates under the auspices of the WC-CMD-ACMF Joint Sustainable Finance Working Group (JSFWG), which coordinates the sustainable finance agenda for ACMF and WC-CMD, including the implementation of the recommendations in the ACMF Roadmap for ASEAN Sustainable Capital Markets (Roadmap) and the WC-CMD Report on Promoting Sustainable Finance in ASEAN (Report).

In addition, the JSFWG also aims to foster deeper collaboration between the ASEAN capital markets agencies and stakeholders on sustainable finance, so as to ensure that the views and needs of industry stakeholders are appropriately taken into consideration in regulatory policy-making and market development efforts for sustainable finance.

Both the Roadmap and the Report promote enhanced and more structured engagement and co-ordination between the capital market regulators and market players on sustainable finance in order to take the agenda forward in ASEAN. The establishment of the IAP supports this goal. The IAP will also connect their industry peers to the JSFWG and involve them in IAP activities, thus enlarging the sphere of engagement. The JSFWG and the IAP will engage regularly, thus ensuring two-way communication between the regulators and policymakers, and the industry.

The JSFWG and the IAP have identified four areas that are immediately key to enhancing the sustainable finance landscape. These are – (i) a Sustainable Finance Taxonomy for ASEAN; (ii) Disclosures; (iii) Strengthening Demand and Supply for Sustainable Finance; and (iv) Transition Standards. The IAP has established four Working Groups to specifically address these topics. These Working Groups will be inviting other industry members to participate in or contribute to their efforts. 

Members of the IAP and their involvement in the Working Groups are listed in the table below. The ACMF and WC-CMD look forward to working with the IAP and other stakeholders in advancing the sustainable finance agenda in ASEAN.

Working Group on the ASEAN Sustainable Finance Taxonomy
Organisation Representative(s)
Chair: Nomura Asset Management Group
Mr Toshiyuki Imamura, Managing Director, Responsible Investment Department

Mr Gordon Youl, Managing Director, Head of DCM Transaction Management & Head of ESG Task Force
Aberdeen Standard Investments
Mr David Smith, Senior Investment Director
RAM Sustainability Sdn Bhd
Mr Promod Dass, CEO

Ms Gladys Chua, Head, Sustainability Services
Working Group on Disclosures
Organisation Representative(s)
Chair: ING Bank

Mr Helge Muenkel, Managing Director, Head of Asia Pacific, Sustainable Finance & Global Capital Markets

Ms Rowena Palmiery-Bayoneta, Director, Diversified Corporates

Allianz SE, Singapore Branch

Ms Claudia Salem, CEO, Property & Casualty (APAC)

Indonesia Corporate Secretary Association (ICSA)

Dr Ir Hardijanto Saroso, Chairman, Supervisory Board

PwC Malaysia

Dato’ Mohammad Faiz Azmi, Executive Chairman

Mr Andrew WK Chan, Leader of Sustainability and Climate Change

Working Group on Strengthening Demand and Supply for Sustainable Finance
Organisation Representative(s)
Chair: Maybank Investment Bank Berhad

Mr Fad’l Mohamed, CEO

Mr Wong Kwok Kuan, Regional Head of Debt Markets, Maybank Kim Eng

BNP Paribas Asset Management

Ms Angelia Chin Sharpe, CEO & Country Head Malaysia

Mr Christian Bucaro, Chief Executive Officer, BNP Paribas Asset Management Singapore

Rajah & Tann Singapore LLP

Mr Raymond Tong, Partner

Mr Ahmad Fikri Assegaf, Partner and Co-founder, Assegaf Hamzah & Partners

Standard Chartered Bank Philippines

Ms Lynette Ortiz, CEO

Ms Roshel Mahabeer, Head, Sustainable Finance ASEAN and South Asia

Working Group on Transition Standards
Organisation Representative(s)
Chair: The Hongkong & Shanghai Banking Corporation Limited (HSBC)

Mr Gautam Mukharya, Chief Risk Officer, HSBC Singapore

Mr Stewart James, Managing Director, Government Affairs, HSBC Philippines

Ms Mimi Concha, Head of Global Banking, HSBC Philippines

Baker McKenzie

Mr Gavin Raftery, Partner, Baker McKenzie, Tokyo

Mr Adam Farlow, Partner, Baker McKenzie, London

International Capital Market Association (ICMA)

Mr Mushtaq Kapasi, Managing Director & Chief Representative for APAC


Ms Simone Utermarck, Director, Sustainable Finance

Bank of Ayudhya Public Company Limited (Krungsri)

Ms Jamjun Siriganjanavong, Senior Director, Head of Debt Capital Market Department, Investment Banking Group

Mr Chakrit Hansirisawasdi, Director

Convener of the IAP
Organisation Representative

Mr Donough Foley