On March 18, 2019, the ASEAN Capital Markets Forum (ACMF) met in Bangkok to endorse the Roadmap on ASEAN Sustainable Capital Markets to promote ASEAN asset classes for sustainable investment, in line with ASEAN’s theme on “Advancing Partnership for Sustainability”. The Roadmap will be proposed to the ASEAN Finance Ministers’ Meeting in Chiang Rai for acknowledgment in April 2019.
The Roadmap, whose development involved consultations with various stakeholders,
ranging from issuers, institutional investors, information providers and
ESG-related organisations via the ACMF Industry Consultative Panels process,
outlines key strategies and mechanisms to strengthen capital markets as a
driving force for sustainable development. It provides clear and concrete
direction for moving the whole ecosystem involving issuers, investors,
disclosure of information, development of indices, capacity building, and
enhanced inter-agency coordination.
The Roadmap will reiterate the ACMF’s
efforts to develop sustainable finance in the region which commenced with the
ASEAN Green Bond Standards launched in 2017 followed by the ASEAN Social Bond
Standards and ASEAN Sustainability Bond Standards launched in 2018. To date,
there have been nine ASEAN issuances under the Standards from Malaysia, the
Philippines, Singapore and Thailand.
The ACMF also launched a framework on
cross-border publication of research reports to facilitate better information
flow of ASEAN capital market products as part of its ongoing efforts to promote
professional mobility and wider investor participation in ASEAN capital market
products and services which contribute towards greater regional connectivity.
Regulators from
Malaysia, the Philippines, Singapore and Thailand also signed- the Memorandum of
Understanding (MoU) on Cross-border Publication of Research Reports. Other ACMF
members are expected to participate in due course. This MoU complements the
cross-border movement of investment advisers under the “ACMF Pass” initiative
launched in 2018, allowing ASEAN investors greater access to professional
services.
A revised MoU on
the Streamlined Review Framework for ASEAN Common Prospectus was also signed by
Malaysia, Singapore and Thailand to cover issuances of plain debt securities
under a debt issuance programme. This is an extension of the existing
streamlined review process, which caters for equities and one-off issuance of
plain debt securities to allow issuers making cross-border offerings to achieve
faster time to market and lower cost.
As interest and adoption of digital
assets continue to grow, the ACMF has agreed to strengthen regional
collaboration in this sphere, with a view towards addressing potential risks and
ensuring market resilience.
The ACMF commended significant progress made by the
Philippines to join the ASEAN Collective Investment Scheme (ASEAN CIS) framework
aimed at driving cross-border offerings of CIS across the region.
The ACMF members
remain committed to collectively continue these efforts to build a holistic
ecosystem for sustainable growth and create connectivity, inclusiveness and
resilience of ASEAN capital markets.
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Note-to-Editors:
About the
ACMF
The ACMF
is a high-level grouping of capital market regulators from all 10 ASEAN
jurisdictions, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia,
Myanmar, the Philippines, Singapore, Thailand and Viet Nam. The ACMF is
currently chaired by the Securities and Exchange Commission, Thailand.
More information
on the ACMF and its initiatives can be found at the ACMF website at www.theacmf.org.
For media queries, please contact:
Securities and
Exchange Commission, Thailand
1. Ms. Julawadee Worasakyothin
Director of Strategy and International
Affairs Department
Email: julawade@sec.or.th
Tel: + 66-2263-6202
2. Ms.
Jittikarn Wongkampoo
Assistant Director of Strategy and International Affairs
Department
Email: jittikar@sec.or.th
Tel: + 66-2033-9671