The discussion in the Asian Strategy & Leadership Institute (Asli) Banking and Finance Summit 2023 revolves around sustainable practices, as well as a more inclusive, equitable financial ecosystem in Malaysia and the wider Asean region.
In a statement today (Nov 14), it said that this discussion reflects the government’s Ekonomi Madani’s direction to align its efforts to build a future where where economic growth and sustainability go hand in hand.
Organised by the Asian Strategy & Leadership Institute (Asli), which is fully owned and governed by the Jeffrey Cheah Foundation, in partnership with the Asia headquarters of the United Nations Sustainable Development Solutions Network (UN-SDSN), the event has a dual theme – “Future of Finance and Financing the Sustainable Development Goals (SDGs)”.
The themes examined pressing topics surrounding the banking and finance industry as well as discuss how the public and private sectors can collaborate to finance the 17 UN SDGs.
Present at the summit participated by 800 delegates were Economy Minister Rafizi Ramli, Asli chairman and Sunway Group founder and chairman Tan Sri Sir Jeffrey Cheah and Maybank’s Group Global Banking chief executive officer Datuk Muzaffar Hisham, Jasper Wong from United Overseas Bank (UOB), among other notable guests.
Cheah said experts in the business of capital allocation, finance and banking professionals have a responsibility to help ensure that adequate resources are channelled towards implementing the sustainability agenda.
“Realising SDGs requires the commitment of all segments of society. We are all in this together,” he said.
Maybank’s Muzaffar said: “I believe that in the next couple of years there will be an interesting journey in finance, whether it be towards digital banking, a convergence or evolution of other players in the financial sector or complementing partnerships.”
Meanwhile UOB’s Wong highlighted global sustainability challenges such as a 27% population increase and a projected 160% rise in electricity demand during the second session.
The collaboration between ASLI, UN-SDSN Asia and Sunway University underscored the importance of multi-sectoral partnerships in driving progress towards the 2030 Agenda for Sustainable Development.
“The summit was held at a pivotal moment as reports from the UN Economic and Social Commission for Asia and the Pacific (ESCAP) indicate that the Asia-Pacific region is falling behind on meeting the 17 Sustainable Development Goals (SDGs) by the 2030.”
The summit was also jointly organised with Sunway Group, and supported by platinum Sponsors Public Bank, UOB and Maybank as well as other well-known banks in Malaysia.
In line with its dedication supporting the UN SDGs, the Jeffrey Cheah Foundation has gifted US$20 million to the United Nations towards this end.
These funds have been instrumental in establishing the Jeffrey Sachs Center for Sustainable Development and the Asia headquarters of UN-SDSN, which are both housed at Sunway University.
