Amidst the global surge in interest around ESG investing, asset owners with diversified, global portfolios must understand the specific ESG risks that may apply to investments in different regions and industries, as well as the variety of approaches to ESG risk mitigation across public and private markets.

Southeast Asia is a particularly attractive region for

On March 30, 2021, finance ministers and central bank governors from members of the Association of Southeast Asian Nations (ASEAN) announced their support for an ASEAN Taxonomy of Sustainable Finance (ASEAN Taxonomy). Like the Taxonomy Regulation in the European Union, the ASEAN Taxonomy will serve as ASEAN’s common language for sustainable

The National People’s Congress of the People’s Republic of China approved China’s 14th Five Year Plan (the “Plan”) at the annual “two sessions” in early March 2021, setting forth the overarching economic and social policy directive for the country in the coming five years. Released months after President Xi Jinping’s carbon neutrality pledge of September 2020, which targets to peak carbon emissions before 2030 and reach carbon neutrality in 2060, the Plan is expected to provide a clear roadmap for achieving the climate goals.

The Plan specifies binding indicators for energy intensity and CO2 emissions intensity, which demand a 13.5% reduction in energy consumption per unit of GDP and a 18% decrease in CO2 emissions per unit of GDP by 2025. In addition, the Plan proposes to establish a modern energy system, detailing the construction of major energy projects and setting the goal of increasing the share of non-fossil energy in China’s total energy consumption from 15.8% to around 20% by 2025. The Plan also calls for regional and departmental action plans on peaking CO2 emission before 2030 and acknowledges that the country would make efforts to reach carbon neutrality by 2060.


Continue Reading Key Policy Directive for China’s Energy Transition: China’s 14th Five Year Plan

Speaking at the Roundtable of the China Development Forum on March 21, 2021, the Governor of the People’s Bank of China (PBOC), Yi Gang, outlined the central bank’s green finance priorities over the near- to mid-term. Governor Yi began by highlighting China’s goal of reaching peak carbon emissions by 2030 and achieving carbon

On February 24, 2021, Malaysia’s Joint Committee on Climate Change (JC3) held its fourth meeting to discuss regulatory priorities to support the financial industry’s response to climate-related risks in 2021.

The JC3 was established in 2019 to pursue collaborative actions for building climate resilience within Malaysia’s financial sector. The committee is chaired by

The final rules governing China’s national emissions trading scheme (China ETS) took effect on February 1, 2021. In a recent Legal Update, we provide a reference point for international investors interested in participating in the China ETS by summarizing the final rules and comparing the China ETS with a scheme that may

On January 28, 2021, Singapore’s Green Finance Industry Taskforce (GFIT) launched a consultation on a proposed taxonomy (the “Taxonomy“) for financial institutions to identify green and transitional activities. The Taxonomy is intended to provide a common framework for classification upon which financial products and services can be built and combat greenwashing by setting out definitive criteria for greenness in Singapore.

The Taxonomy consultation builds upon Singapore’s exemplary efforts to regulate and develop its green finance markets, including the Monetary Authority of Singapore’s recently issued Environmental Risk Guidelines for asset managers, banks and insurers, which we discuss in our Legal Update at MayerBrown.com.

In this Blog Post, we discuss the Taxonomy and steps that other jurisdictions in Asia have taken to implement their own green taxonomies.


Continue Reading Singapore Consults on Green Taxonomy for Financial Institutions

On December 17, 2020, Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) published its Strategic Plan to Strengthen Hong Kong’s Financial Ecosystem to Support a Greener and More Sustainable Future (Strategic Plan). The Strategic Plan sets out six key focus areas to strengthen Hong Kong’s financial ecosystem and

On January 14, 2021, the Financial Services Commission (FSC) announced a series of measures to improve corporate disclosure rules in South Korea, including initiatives to promote ESG and responsible investing (the “Measures“). The Measures include the implementation of mandatory ESG disclosures for listed companies and potential changes to the Korean Stewardship

On December 8, 2020, the Monetary Authority of Singapore issued Guidelines on Environmental Risk Management tailored to financial institutions  in three sectors: asset management, banking and insurance. The Guidelines are intended to drive the transition to an environmentally sustainable economy by enhancing the integration of environmental risk considerations in financing and investment decisions and promoting