SP 145/GKPB/OJK/IX/2023
PRESS RELEASE
OJK SUPPORTS ASEAN SUSTAINABLE CAPITAL MARKET
OJK Holds the 2023 ACMF International Conference
Bali, October 17, 2023. Indonesia Financial Service Authority (OJK) continuously shows support for ASEAN Capital Market Forum (ACMF)'s commitment in realizing Capital Market roadmap for sustainable economy improvement in the region.
The ACMF sustainable Capital Market roadmap has strengthened regional commitment in carrying out the global climate agenda while simultaneously overcoming specific challenges and taking on opportunities in sustainable development and financial market in Southeast Asia.
This message was conveyed by Chairman of the Board of Commissioners of OJK Mahendra Siregar during the opening of the 2023 ACMF International Conference “Transitioning Towards Sustainable Capital Markets: The ACMF Perspective" in Bali, Tuesday. In his remarks Mahendra stated that Indonesia achieved the progress in supporting financing transition and the commitment to promote sustainable finances that accommodates transformation low-carbon economy.
“Stakeholders' participation and international cooperation are needed to achieve a sustainable, inclusive, and fair transition. To ensure this, as I have previously mentioned, we need to acknowledge the significant roles of industry, such as providing added value to the economy," said Mahendra.
The 2023 ACMF activities were carried out from October 16 to 18, 2023, consisting of ACMF Chairs Meeting, ACMF International Conference, and ACMF-ISSB Technical Training attended by ACMF delegations, Asian Development Bank (ADB), and Capital Market sector players and stakeholders in ASEAN.
In this event, Chief Executive of Capital Markets, Financial Derivatives, and Carbon Exchange Supervision of OJK Inarno Djajadi mentioned that one of the main motivations of Indonesia's leadership in ASEAN is to promote ASEAN as the Epicentrum of Growth.
“This underlines the significance of ASEAN's global position. In facing of environmental and social challenges posed by the climate crisis and in alignment with the goals outlined in the Paris Agreement, it is imperative that we, as a collective force, play a pivotal role in the global transition agenda towards as a low-carbon economy and sustainable future," said Inarno.
Furthermore, Inarno elaborated several main actions achieved during OJK's leadership in the 2023 ACMF (ACMF Significant Milestones):
Publication of the ASEAN Transition Finance Guidance as the general planning guidelines in transitioning to a credible, transparent, and inclusive low carbon economy;
Conclusion of ASEAN Corporate Governance Scorecard revision process, which refers to the OECD Principles on Corporate Governance revision, where sustainability is the new main pillar. The scorecard will be used to assess and determine the Top Publicly Listed Companies (PLCs) in ASEAN in 2024 for the 2023 financial year.
ACMF-IFRS Foundation Dialogue on IFRS Sustainability Disclosure Standards. ACMF continuously encourages sustainability disclosure quality improvement through collaboration with ISSB as the global standard-maker of sustainability disclosure. The collaboration has been written in the dialogue protocols, signed in the meeting on October 16. Through the collaboration, ACMF may provide a better intensive capacity building programs for ACMF members as regulator and for Companies preparing sustainability disclosure; and
Launching of Handbook for Cross Border Offerings of ASEAN sustainable and responsible funds.
“The aforementioned ACMF Milestones are in accordance with the focus of ACMF initiatives on the transition agenda toward emission reduction through the achievement of net zero commitment in the region, and ACMF's commitment as the Capital Market regulator forum in ASEAN to contribute to this major agenda," said Inarno.
The 2023 ACMF International Conference was concluded by Chief Executive of Technology Innovation, Digital Assets, and Crypto Assets Supervision of OJK Hasan Fawzi's message about Capital Market's significant role in achieving climate goals, for the goals required a huge amount of investment and financing.
“Through financing mobilization and allocation, capital market is expected to complement bank lending and public investments. To achieve this at the regional level, efforts need be harmonized and authorities in the region must work hand-in-hand to design and implement common regulatory framework beyond borders. The ACMF discussion is a true testament to this effort," Hasan said.
During the ACMF Chairs Meeting on Monday (10/16), the ACMF Chairmanship was handed over from Indonesia Capital Market regulator, OJK to Lao Securities Commission Office (Lao SCO) as Chairman and Securities Commission Malaysia as the Vice Chairman of ACMF 2024.
ACMF was founded in 2004 under the ASEAN Ministries of Finance forum, consisting of the 10 ASEAN member countries, namely Brunei Darussalam Central Bank (BDCB), Securities and Exchange Regulator of Cambodia (SERC), Indonesia Financial Services Authority (Otoritas Jasa Keuangan/OJK), Lao Securities Commission Office (Lao SCO), Securities Commission of Malaysia (SCM), Securities and Exchange Commission of Myanmar (SEC Myanmar), Securities and Exchange Commission of Philippines (SEC Philippines), Monetary Authority of Singapore (MAS), Securities and Exchange Commission of Thailand (SEC Thailand), and State Securities Commission of Vietnam (SSC Vietnam).
ACMF's objective is to develop Capital Market in the ASEAN region by focusing on the regulatory framework adjustments to achieve a better integrated Capital Market in ASEAN.
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For more information:
Head of Literacy, Financial Inclusion and Communication Department - Aman Santosa;
Tel. (021) 29600000; E-mail: humas@ojk.go.id
