SMART Myanmar’s partner, ADFIAP, conducts ‘green finance’ briefing with Myanmar Central Bank and Banks Association

Written by ADFIAP staff

In line with ADFIAP’s advocacy on sustainable environmental development and as one of its major tasks as a partner of the Switch Asia project, SMEs for Accountability, Responsibility and Transparency (SMART Myanmar), ADFIAP Secretary General Octavio B. Peralta and ADFIAP Consulting Head Corazon D. Conde conducted an awareness briefing on sustainable consumption and production (SCP) for Myanmar Central Bank officials and members of the Myanmar Banks Association (MBA) on January 22, 2016 at the MBA Building in Yangon.

The advocacy campaign/awareness briefing commenced with an overview of the SMART Myanmar 2nd project phase, presented by Ms. Su Tayar Lin, Project Manager. The briefing introduced the concept of SCP and its relevance to banks in promoting investments in environmentally-friendly processes and systems such as cleaner production, waste minimization, resource conservation, energy efficiency, pollution prevention and control, among others, with the aim of enabling businesses to reduce their environmental footprints, and in the process, minimize environmental risks and comply with national and international environmental laws. The role of banks in SCP promotion and the opportunities that abound in green investments were also showcased with success stories under the SMART Cebu project in the Philippines involving the greening of three (3) industry sectors namely: Fashion Accessories; Furnitures and Furnishings; and Gifts Toys and Housewares. Green finance case studies of ADFIAP members in India, Malaysia, Sri Lanka, Palau, China, Thailand and the Philippines were also presented.

The event also served as a platform for sharing of experiences on current green initiatives among the participants to give ADFIAP an indication of the level of awareness and involvement of said banks in environmental issues and concerns.

Part of ADFIAP’s role in the project is to design and roll-out a responsive and demand-driven “green finance program” for the Myanmar Central Bank and MBA that will spur the development of new financing schemes to support the SCP activities of businesses. In this regard, the participants were requested to fill-up training needs assessment questionnaire to be able to understand and assess better the current practice of banks in terms of financing green projects and to help develop a training program and curriculum whose objective is to empower, further enhance and assist loan officers in the credit evaluation of green projects under a risk-mitigated environment.

A total of 25 participants attended the briefing. Dr. Sein Maung, Chairman of First Private Bank Ltd. and Vice-Chairman of MBA, opened the advocacy campaign and awareness briefing with his welcome remarks and inspirational talk on the importance for banks to prepare themselves to face the challenges of green banking to remain competitive in this new green economy.

(This article was originally published on the ADFIAP website).