Ravi Menon to chair board of Apac network helping financial institutions reach net zero
Vivienne Tay
RAVI Menon, managing director of the Monetary Authority of Singapore (MAS), will chair the advisory board of a new Asia-Pacific network that will support the net-zero transition of financial institutions in the region.
The network was launched by the Glasgow Financial Alliance for Net Zero (GFANZ) on Wednesday (Jun 8) with the opening of its first regional office and the creation of an advisory board, it said in a press statement.
On top of having Menon as its chair, the advisory board will also consist of leaders from other financial institutions like the Asian Development Bank, the Singapore Exchange (SGX), South Korea’s KB Financial Group and the Asian Infrastructure Investment Bank.
The advisory board will provide guidance and advice to the GFANZ Apac network when it comes to strategic direction, local and regional expertise, among other matters. Other members include:
- Woochong Um, managing director general of Asian Development Bank;
- Jin Liqun, president and chair of board of directors of the Asian Infrastructure Investment Bank;
- Anna Skarbek, chief executive of Climateworks Centre;
- Yoon Jongkyoo, chairman and chief executive of KB Financial Group;
- Loh Boon Chye, chief executive officer, SGX Group; and
- Hiro Mizuno, United Nations Special Envoy on Innovative Finance and Sustainable Investments.
The Apac network will support engagement with the financial institutions and policymakers, incorporate feedback and ensure its net-zero work is inclusive and applicable to all. It will also facilitate knowledge-sharing and open dialogue on the opportunities and challenges of net zero.
GFANZ director Yuki Yasui will lead the Apac network. She will report to the GFANZ leadership team – Mark Carney, Mike Bloomberg, Mary Schapiro and Nigel Topping – as well as the network’s advisory board.
GFANZ aims to add more members to the advisory board to ensure the Apac network represents and accounts for regional economic and policy conditions. It will also launch more regional networks in Africa and Latin America in the coming months, with secretariat staff distributed across all major continents.
Its central office in Singapore is supported by SGX, Temasek and MAS, GFANZ noted.
GFANZ is a practitioner-led global coalition of financial sector institutions. It has more than 450 member firms including banks, insurers, asset owners, asset managers, financial service providers and investment consultants, spanning 45 countries.
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