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Developments in Green and Social Bond Markets – the Asian perspective
Date and Venue

Date: 2 November 2017

Toranomon Hills
23 Toranomon 1 cho-me

Event Overview

This conference “Developments in the Green and Social Bond Markets – the Asian Perspective” took place in Tokyo on 2 November with the support of the Japan Securities Dealers Association (JSDA).

The conference built on the sharp growth in Asian green bond activity, the recent launch of guidelines by the Japanese Ministry of Environment, pioneering social bond issuance, and increased regional investment in such products.

It brought together issuers, underwriters, investors, policymakers, market infrastructure and service providers and other green bond and social bond market stakeholders to discuss recent developments in Asia. With a focus on the application of the market standards represented by the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines, as well as official sector guidelines, expert speakers explored requirements for the further development of the green bond market in the region, as well as the increasingly active social and sustainability bond markets.

Thursday, 2 November 2017

Registration, Tea & Coffee
Welcome & Opening Speech
Shigeharu SUZUKI, Chairman and CEO, JSDA

Welcome & Keynote: Asia – a strategic region for the GBP
Martin SCHECK, Chief Executive, ICMA


Panel: The GBP – Recent Developments and Perspectives for 2017-18
Moderator: Peter Munro, Director, ICMA
Reiko HAYASHI, Vice Chairman, Chairman of Japan Global Capital Markets, Merrill Lynch Japan Securities
Yasunobu KATSUKI, Senior Primary Analyst, Products Business Division, Mizuho Securities Co., Ltd.
Chris WIGLEY, Senior Portfolio Manager, Mirova
Amane YAMAZAKI, General Manager, Structure Finance Division, Social & Environmental Risk Assessment Office, Bank of Tokyo-Mitsubishi UFJ
Stephanie SFAKIANOS, Head of Sustainable Capital Markets, BNP Paribas

Yuriko KOIKE, Governor of Tokyo

11.15 Coffee & Networking Break  
11.45 Keynote: Japan’s Green Bond Guidelines
Masaya OKUYAMA, Director, Environment and Economy Division, Minister’s Secretariat, Ministry of Environment

Panel: the Japanese market – achievements & outlook
Moderator: Yoshiyuki ARIMA, Japan Representative, World Bank Treasury
Hiroyuki KATO, Director General, Treasury Department, Development Bank of Japan
Masanori OGIWARA, Managing Director, Head of DCM Japan & Sustainability Bonds Asia, Morgan Stanley
Hiroshi OZEKI, Chief Investment Officer, Member of the Board & Executive Officer, Nippon Life Insurance Company
Takeshi TOKUDA, Director, International Debt Origination, Debt Capital Markets Department, Daiwa Securities

14.00 Keynote: The Chinese Green Bond Market
Wei KONG, Secretary, Shanghai Green Finance Committee

14.10 Panel: Future dynamics for green bond markets
Moderator: Sean KIDNEY, CEO, Climate Bonds Initiative
Erwan CREHALET, Head of Climate & Green Bonds Research, Crédit Agricole CIB
Mariko KAWAGUCHI, CEO Japan SIF, Chief Researcher, Daiwa Institute of Research
Jean-Marie MASSE, Chief Investment Officer, Financial Institutions Group, International Finance Corporation
Aldo ROMANI, Deputy Head of Funding, Euro, EIB
Yao WANG, Deputy Secretary-General, China Green Finance Committee

15.00 Keynote: Scaling up green finance and investment for a low-carbon transition
Masamichi KONO, Deputy Secretary-General, OECD

Keynote: Building the market in Emerging Asia
Nessim J. AHMAD, Deputy Director General of Sustainable Development and Climate Change Department concurrently Chief Compliance Officer, Asian Development Bank

Panel: Social & Sustainable Bond market trends
Moderator: Esohe Denise ODARO, Head of Investor Relations, IFC
Sasja BESLIK, Head of Sustainable Finance, Nordea
Rene KARSENTI, Chairman, IFFIm
Michiyo MORISAWA, Head of Japan, Global Networks and Outreach, PRI
Satoko TANAKA, Director, Capital Markets Division, Treasury, Finance, and Accounting Department, Japan International Cooperation Agency
Kazuyuki AIHARA, Senior Officer, Head of ESG products, Debt Capital Markets Depts., Nomura Securities Co., Ltd.

Panel: External Reviews – current practice in Asia and market outlook
Moderator: Mushtaq KAPASI, Chief Representative, ICMA Asia Pacific
Eiichiro ADACHI, Counselor and Head of ESG Research Center, The Japan Research Institute
Brian CAHILL, Managing Director, Asia Pacific Corporate, Public, Project and Infrastructure Finance, Moody's
James HAWRYLAK, Director Institutional Relations, Sustainalytics
Sean KIDNEY, Chief Executive and Co-Founder, Climate Bonds Initiative
Heather MCLEISH, Senior Manager, Climate Change and Sustainability Services, Ernst & Young ShinNihon 

17.10 Closing Keynote
Eugene WONG, Managing Director, Corporate Finance & Investments, Securities Commission Malaysia; Co-Chair of the Green Finance Working Group, ASEAN Capital Markets Forum

Closing Remarks
Martin SCHECK, Chief Executive, ICMA

Networking reception

BNP Paribas is a leading international bank with a presence in 74 countries, with over 192,000 employees. The Group has key positions in its three main activities: Domestic Markets, International Financial Services, and Corporate & Institutional Banking. The Group helps its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. For more information

Daiwa Securities Group is one of the largest comprehensive financial service firms in Asia, with a global reputation for excellence.

It is a market leader in all core business areas, for both retail and wholesale clients. These include equity, fixed income, foreign exchange, derivatives, M&A advisory services, asset management and  investment operations.

Other core businesses under its unified group structure include world famous research and banking operations.

As the EU's long-term lending institution, the EIB finances sound investments that contribute toward EU policy goals. The EIB raises the bulk of its lending resources on the international capital markets through benchmark bond issues. The EIB is the largest multilateral borrower on global markets. EIB is also the largest green bond issuer to date and chairs the Green Bond Principles.

Company: European Investment Bank
Address: 98-100, bd Konrad Adenauer, L-2950 Luxembourg
Tel: +352 43 79 1
Fax: +352 43 77 04
Website: www.eib.org
Contact (for enquiries on EIB bonds): Investor Relations
Contact email: investor.relations@eib.org

Mizuho Securities, as one of the core group companies in the Mizuho Financial Group provides comprehensive investment banking and securities expertise under the slogan of “One MIZUHO”. It has an outstanding track record in arranging both retail and institutional bond transactions in various currencies for Japanese and foreign issuers.  By leveraging its expertise and global presence through its dedicated 274 offices across Japan and nine offices overseas, Mizuho Securities is committed in expanding the “Green and Social Bond” markets.  

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, and the firm's ratings and analysis track debt covering approximately 120 sovereign nations, 11,000 corporate issuers, 21,000 public finance issuers, and 72,000 structured finance obligations.
Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By ‘Connecting Markets East & West’, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking).

As a global investment bank with deep roots in Asia, Nomura delivers unparalleled access to, from and within Asia. Our client-centered operating model is supported by leading research, a strong balance sheet, disciplined risk management and innovative technology – helping us grow and provide the differentiated service our clients have come to expect of us.  

Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. Based on our philosophy of “placing our clients at the heart of everything we do”, Nomura continues to innovate and take up new challenges to drive sustainable growth.  For further information about Nomura, visit www.nomura.com.

Supporting Associations

Asia Pacific Loan Market Association

The Investment Trusts Association, Japan

Japan Investment Advisors Association

Media Partner

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For sponsorship opportunities, please contact allan.malvar@icmagroup.org.