ESG

Kamal Quadir has transformed financial services for the poor in Bangladesh with bKash. The mobile payments system is shaping up to be a great success story. Here’s how a child of independence put it together.

A novel green loan for Singapore-listed Wilmar has highlighted the dearth of such ESG-based borrowings in Asia, but now that the agribusiness company has provided a template, the onus is on banks and borrowers to push for change in the region.

China’s initial attempts to address environmental improvements were met with considerable scepticism. But its banks have embraced the challenge much faster than its industrial companies. These new Asiamoney awards recognize the financial institutions and individuals that have done the most to promote China’s booming green-finance market over the last year

Jun Ma is known as ‘Chief Ma’ in China’s green-finance sector in recognition of the dual role he has played in the last three years, both as the chief economist of the People’s Bank of China (PBoC) and as the leading proponent for green finance in China as chair of the green finance committee of the China Society for Finance and Banking.

Huzhou City, in the eastern province of Zhejiang, used to be known in China for its prosperous textiles industry. Now it is recognized as a hub for green finance thanks to the support of the Zhejiang provincial government.

China Cheng Xin International Credit Rating Co, established in 1992 in Beijing, is not only China’s largest domestic credit-rating agency, but also a clear leader in serving the domestic green-finance market.

Capitalizing on its abundant experience in green-finance verification globally and the unrivalled expertise of its Climate Change and Sustainability Services team on the ground, EY is recognized as a pioneer and leader in China when it comes to providing verification services and safeguarding the development of the local green-finance sector. Judy Li is its green finance leader in China.

China Securities, established in Beijing in 2005, ranked among China’s top three bond underwriters in the last three years. After embracing green-bond underwriting as a new strategic direction in business development two years ago, the securities house has established itself as a clear leader in the underwriting of both corporate green bonds and green bonds placed by domestic financial institutions.

Shanghai Pudong Development Bank is one of the second-tier national commercial banks in China. There is no way for the Shanghai-based bank to match the country’s big four state-owned commercial banks in terms of green lending, but it has established itself as a leading player in the domestic green-bond market.