CIL Research Associates Nivedita S and Manisha Regalla participated in a webinar on Environmental Governance in the Financial Sector held on 7 April 2021, organised by the Asia-Pacific Centre for Environmental Law (APCEL). The webinar was part of a series of webinars organized by APCEL on ‘Corporations and the Future of Environmental Sustainability’ as part of their 25^th anniversary celebrations. The webinar focused on the key role the financial sector plays in advancing the sustainable finance agenda. In light of the rapidly evolving landscape with regard to sustainability standards, numerous voluntary sustainability standards have been developed in recent years in the financial sector to address the environmental, social, and governance risks. In this regard, the lack of regulation in the sustainable funds market and the urgent need to enact laws that closely monitor the efficacy and impact of green bonds was stressed. Initiatives taken by banks to incentivise their clients to reduce their Greenhouse Gas (GHG) emission rates were also highlighted. The need to incorporate climate change considerations such as the Paris Agreement Goals into long-term business growth and profit targets for corporations was also emphasised. This topic has potential implications for the nuclear sector, in light of increasing recognition that nuclear energy has the potential to mitigate climate change.

Speakers were Joseph Chun, Adjunct Associate Professor, NUS Law; Member, APCEL; Mehrunisa Zafar, Vice President, Responsible Finance (Sustainability) Institutional Banking Group DBS Bank; and Munib Madni, Founding Panvestor/CEO, Panarchy Partners. The webinar was moderated by Ghislaine Nadaud, Visiting Researcher, APCEL. A recording of the session is available here.