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How can Financial Institutions tackle the challenges in Climate Risk Management?

 
 

Climate change is one of the major risks threatening the well-being of mankind. Traditionally, it has been approached from a corporate social responsibility perspective. However, there is a shift in public preference towards more environmental-friendly products and services. Thus, the financial, reputational and strategic risk implications to corporations are becoming increasingly prominent.

HKMA has issued a Supervisory Policy Manual (SPM) on Climate Risk Management requesting Authorized Institutions to build climate resilience by incorporating climate considerations into governance, strategy, risk management and disclosure by the end of December 2022. Thus, the RegTech Associations of Hong Kong, under the sponsorship of Cyberport, has invited experts in this field to share their valuable insights on compliance with this new SPM in a virtual webinar to be held on Jun 14.

 

Armen Dallakyan

EY - Director, sustainable finance and ESG Consulting

Armen is a Director in EY’s Consulting practice in Hong Kong, specializing in Banking and Markets in the Financial Services sector. His consulting experience is focused on Sustainable Finance, ESG integration and climate risk analysis for international financial institutions in APAC.

Before joining EY, Armen was a sustainable finance advisor in London, supporting a number of banks and asset managers around the world to develop and implement ESG programs.

Armen also held several analytical and leadership roles in credit ratings industry, covering financial services firms in multiple countries in the EMEA region for more than 10 years. Armen has authored several articles on banking and capital markets. He is an adjunct lecturer of Sustainability in Business and Finance for graduate programs at the American University of Armenia. Armen studied Economics at Yerevan Economics University and Sustainable Finance at the University of Cambridge.

 

Dr Rocky Tung

Financial Services Development Council - Director, Head (Policy Research)

Dr Tung is the Director, Head of Policy Research for the Financial Services Development Council (FSDC). He leads the team responsible for conducting policy research and industry surveys for the formulation of proposals to the Hong Kong Special Administrative Region Government and financial regulators.

Prior to joining the FSDC, Dr Tung was the Director of Capital Markets Policy for CFA Institute, covering research areas related to capital market structures (e.g. corporate governance, regulatory environment) in the Asia Pacific region. Before that, he was the Senior Economist for the Hong Kong General Chamber of Commerce, where he oversaw its macroeconomic research, as well as labour- and international trade- related policy research functions. He also served as an economist and a research analyst for banks, a trade credit insurer and a Hong Kong-based think-tank.

Dr Tung holds a doctoral degree in organisational leadership from the Northeastern University in Boston. He received a Master’s degree and a Bachelor’s degree, both in Economics, from the University of Hong Kong and the University of Wisconsin – Madison, respectively.

 

Peter Lam

Bank of East Asia - Risk Management Division

Peter specialize in banking and has a diversified experiences in risk and regulations from assisting organisations to establish sound risk management frameworks and regulatory compliance. Peter is responsible for supporting and managing key risk management and regulatory initatives for The Bank of East Asia. He plays a key role in managing climate risk and developing the risk roadmap for green and sustainable banking. Peter also provide oversight to risk management of Oversea Branches and Significant Subsidiaries of the Bank Group.

Prior to joining BEA, Peter worked for Citibank, GE Capital and HSBC. Peter brings with him international best practices in Risk Management having spent more than 20 years working with major financial institutions. As a former partner at Deloitte and KPMG, Peter led the team in risk management and compliance services to deliver Basel II/III related services to major financial institutions in China, Asia Pacific, Australia and UK. Peter has involved in areas such as corporate governance, credit risk management, ICAAP, stress testing, sustainability and quantitative risk modeling.

Peter is a Sustainability and Climate Risk “(SCR”) certificate holder from GARP since 2021.

 

Lavin Yeung

ESG Matters - Head of Business Development and Marketing

Lavin Yeung leads the business development team of ESG Matters, a green fintech company providing ESG tools and specializing in ESG data analytics. Responsible for the Hong Kong and Taiwan markets as well as emerging markets, she has extensive experience in business communications and client engagement.

A business manager with a demonstrated history of working in a coworking space, Ms. Yeung is acutely familiar with the working environment for startups, SMEs, and entrepreneurs, and is skilled in Customer Relationship Management, Corporate Social Responsibility, Corporate Branding, and Marketing.

 

Benjamin Petit

Chekk Digital Identity - Co-Founder & Head of Business Development

He works in senior international business development and finance professional with 16 years’ experience across disciplines (Business Development, Strategy, Finance management, M&A, Contract Management and Structured Finance) and across Europe and Asia.

After having co-founded a boutique M&A in Paris supporting SMEs and start-ups, Benjamin came to Asia and gained 15-year experience business development, M&A, and finance, leading financial teams and driving revenue growth across Asia for MNCs. Prior co-founded Chekk Benjamin was CFO of an MNC in Asia and Board of Director of various entities.

 
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