ESG & Sustainable Investment Performance - the case of Korea
Strengthening ESG Investment/ Sustainable Investment under ......Investment product strategy and...
Transcript of Strengthening ESG Investment/ Sustainable Investment under ......Investment product strategy and...
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Strengthening ESG Investment/ Sustainable Investment
under the COVID-19 Crisis
8 – 10 February 2021; Virtual Conference
Asian Development Bank Institute (ADBI)
Last Name Sonobe First Name Tetsushi
Institution Asian Development Bank Institute
Position Dean Country Japan
Short Bio
Dr. Tetsushi Sonobe is the Dean and CEO of the Asian Development Bank Institute
(ADBI). Before joining ADBI on April 1, 2020, he was Vice President of National Graduate Institute
for Policy Studies (GRIPS). He received his BA from the University of Tokyo and his PhD in
economics from Yale University. His research interest is in development economics, especially
field studies of the processes of industrial development, human resource development, social
development, poverty reduction, and sustainable economic growth in developing countries. At
ADBI, he exercises intellectual and strategic leadership to make ADBI’s policy research and
capacity building activities more relevant, timely, and evidence-based and reach a wider
audience.
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Last Name Stewart First Name Fiona Elizabeth
Institution World Bank
Position Lead Financial
Sector Specialist Country United States
Short Bio
Fiona Stewart, Lead Financial Sector Specialist, is part of the Long-term Finance Team in the
World Bank's Finance, Competitiveness & Innovation Global Practice. Fiona provides policy
advice on pension and insurance market reform to governments around the world. She also
leads the Bank’s work on Sustainable Finance. Previously, Fiona worked for the OECD, leading
the Secretariat of the International Organisation of Pension Supervisors (IOPS), and in the
pension fund industry, as head of American Express Asset Management in Japan. She holds
degrees from Oxford and Johns Hopkins Universities and a Chartered Financial Analyst
qualification.
Last Name Kim First Name Chul Ju
Institution Asian Development Bank Institute
Position Deputy Dean Country Japan
Short Bio
Mr. Chul Ju Kim is the Deputy Dean (Capacity Building and Training, and Special Activities) at
the Asian Development Bank Institute. A national of the Republic of Korea, he was a secretary
to President in Korea for economic and financial affairs before joining the ADBI. For more than
30 years, Mr. Kim had been a key policy maker on a wide range of macroeconomic, financial,
and social issues at the Korean government. He served for core positions such as Deputy
Minister for Planning and Coordination, Director General for Economic Policy Bureau and
Director General for Public Policy Bureau at the Ministry of Strategy and Finance. He also has
extensive experience in international development issues, having worked at the World Bank and
the Asian Development Bank. Mr. Kim holds a BA in Economics from Seoul National University
in Korea, and a MS in Finance from Georgia State University in USA.
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Last Name Kono First Name Masamichi
Institution OECD
Position Deputy Secretary-
General Country France
Short Bio
Masamichi Kono was appointed Deputy Secretary-General in August 2017. His portfolio includes
OECD policy on environment, tax, trade and agriculture, along with financial and enterprise
affairs. He oversees the horizontal projects and initiatives on infrastructure and sustainable
growth and also represents the OECD at the Financial Stability Board.
Mr Kono has had a long career in financial supervision and the regulation of financial services,
in Japan and globally. He was Vice Minister for International Affairs of the Japanese Financial
Services Agency (JFSA), prior to his appointment at the OECD.
He served as Chairman of the International Organization of Securities Commissions (IOSCO)
Technical Committee (April 2011-May 2012), and thereafter as Chairman of the IOSCO Board
(until March 2013). He was also the Co-chair of the Financial Stability Board Regional
Consultative Group for Asia (July 2013-June 2015), and Chairman of the IFRS Foundation
Monitoring Board (February 2013-June 2016). Previously, he was Secretary to the World Trade
Organization’s Trade in Financial Services Committee (1995-99).
Last Name Ikeda First Name Satoshi
Institution Japan Financial Services Agency
Position Chief Sustainable
Finance Officer Country Japan
Short Bio
In March 2019, he was appointed as the first Chief Sustainable Finance Officer of the Financial
Services Agency of Japan or JFSA. In this new capacity, he covers a wide range of issues
concerning sustainable finance which include, among other things, leading the Sustainable
Development Goals project team within JFSA, and promoting climate-related financial disclosure
in line with TCFD recommendations in Japan.
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Last Name Yang First Name Ping
Institution The People’s Bank of China
Position
Director of Financial
Market Division,
Research Bureau
Country PRC
Short Bio
Yang Ping joined the Research Bureau of the People's Bank of China in 2007. She is responsible
for monetary policy and macroeconomic analysis and the long-term tracking of the interbank
market. She participated in the drafting of the China Monetary Policy Implementation Report. In
2013, she was transferred from the Monetary Policy Department to the Financial Market
Department, focusing on research and analysis of stocks, bonds and real estate markets. Since
2016, she has been responsible for the work of capital market and green finance. She has
participated in the drafting and publication of a number of important green finance policy
documents, and participated in the construction of green financial standards system and the
construction of green financial reform and innovation pilot zones.
Last Name Rimaud First Name Cedric
Institution Climate Bonds Initiative
Position ASEAN Program
Manager Country Singapore
Short Bio
With 20+-year experience in the fund management industry with more than 10 years at top
ranking investment banking firms (JP Morgan, Citi and Credit Suisse), Cedric has been
managing fixed income portfolios and analyzing corporate bonds during the most part of his
career, most recently as the Head of Emerging Markets Corporate Credit Research at an
independent credit research company. He’s been managing teams of analysts and acting as a
principal of small investment teams in various capacities. He earned a Master’s in Finance from
the London Business School and he is currently enrolled in the joint Executive MBA program of
INSEAD in Singapore and Tsinghua University in Beijing. He is a CFA charter holder and
member of the CFA Society in Singapore. Since relocating to Asia six years ago, he has been
developing projects in the climate finance space for South East Asia. He’s been a consultant for
the United Nations Economic and Social Commission for Asia Pacific on Green Finance and acts
as the ASEAN Program Manager for the Climate Bonds Initiative.
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Last Name Sirivunnabood First Name Pitchaya
Institution Asian Development Bank Institute
Position Capacity Building and
Training Specialist Country Japan
Short Bio
Pitchaya Sirivunnabood’s expertise is international economics and finance, specializing in
regional economic integration and financial cooperation as well as bilateral and multilateral free
trade agreements, development of financial markets, and international/ transnational investment.
Prior to joining ADBI, she was an assistant director and the head of finance integration division
at the ASEAN Secretariat in Jakarta, Indonesia. She was senior researcher, providing policy
advocacy and consultancy for a Thai government think tank, the UNDP’s Asia Pacific Regional
Office, and the European Association for Business and Commerce. She was also an assistant
director and macroeconomist at the ASEAN Integration Monitoring Office, in charge of
surveillance and monitoring process for the ASEAN Economic Community. She holds a PhD in
international economics (trade and finance) from the University of Utah, United States.
Last Name Zheng First Name Xueqing
Institution Research Institute of Shenzhen Stock Exchange
Position Senior
Researcher Country PRC
Short Bio
Zheng Xueqing is a Senior Researcher at the Research Institute of Shenzhen Stock Exchange.
She received her Ph.D in Applied Economics at Sun Yat-Sen University. She has long been
engaged in the strategic planning of stock exchanges and has extensive experience in ESG
strategy. Her research interests also include innovative financial instruments in the fixed income
market, such as green bonds, innovative corporate bonds and real estate investment trusts. She
was seconded to the Corporate Bond Supervision Department of the China Securities Regulatory
Commission. She has published many articles in core journals such as Academic Research,
Statistics and Decision, Securities Market Herald.
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Last Name Moec First Name Gilles
Institution AXA Group
Position Chief Economist Country France
Short Bio
Gilles Moëc is AXA Group Chief Economist since June 2019, and is heading AXA Investment
Managers Research teams which is gathering euro credit analysts, macroeconomists investment
strategist and ESG analysts.
He was previously Chief European Economist at Bank of America Merrill Lynch from 2014. Prior
to that, he was appointed Senior European Economist at Bank of America in 2006 then became
Chief European Economist of Deutsche Bank in 2009.
He started his career by holding between 1994 and 2006 several positions in the French civil
service, at the national statistical institute (INSEE) and at the central bank notably as head of the
International Economics Division of Banque de France.
Gilles graduated from the Institut d'Etudes Politiques de Paris in 1991.
Last Name Nagamura First Name Masaaki
Institution Tokio Marine & Nichido Fire Insurance Co., Ltd.
Position Fellow, General Manager
International Initiatives Country Japan
Short Bio
In his organizational role, Masaaki Nagamura interacts with various international initiatives
related to disaster risks, climate change and sustainability issues at Tokio Marine. Prior to his
current role, he was Division Head of Corporate Social Responsibility between August 2011 and
March 2018.
On disaster risks, he has been assisting the Asia-Pacific Economic Cooperation (APEC)’s
Finance Ministers’ Process (FMP) by serving as Sherpa for the Asia-Pacific Financial Forum’s
Disaster Risk Financing and Insurance (DRFI) Workstream, since January 2015.
On climate change, he served the Financial Stability Board’s Task Force on Climate-related
Financial Disclosures (TCFD) between January 2016 and July 2017. He stays involved in the
implementation of the TCFD recommendations in the Japanese business sector as a steering
committee member of the TCFD Consortium of Japan.
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Last Name Fung First Name Helena
Institution FTSE Russell
Position Head of Sustainable
Investment Country Hong Kong, China
Short Bio
As Head of Sustainable Investment, Asia Pacific, Helena is responsible for FTSE Russell’s
Sustainable Investment indexes, data and analytics solutions across the Asia Pacific region. A
core part of her role is client engagement on a comprehensive range of products and data to
support them in reaching their investment decisions. Working with research and leadership
teams, she has a responsibility for developing FTSE Russell’s Asia Pacific Sustainable
Investment product strategy and expansion.
Helena relocated to Hong Kong in 2014 from London - a key hub for ESG investments, where
she worked for the responsible investment arm of Hermes Investment Management as global
head of client relations, enabling pension funds and asset managers to integrate sustainability
criteria into passive and active portfolios. Before joining FTSE Russell, Helena worked for a
family office in Asia where her responsibilities included ESG integration, equity analysis and
advising on philanthropy. She has been working as an expert in ESG and Sustainable Investment
since 2008, including providing advisory research on stewardship implementation for pension
funds and family office clients, drafting responsible investment policies and integrating
sustainability policies into both active and passive portfolios.
Last Name Yamadera First Name Satoru
Institution Asian Development Bank
Position Principal Financial
Sector Specialist Country Philippines
Short Bio
Mr. Satoru (Tomo) Yamadera is a Principal Financial Sector Specialist for Economic Research
and Regional Cooperation Department of ADB. He leads various regional forums under
ASEAN and ASEAN+3 to support financial market developments. One of his initiatives is to
promote standardization of payment and settlement systems in the region. Before joining the
ADB, he spent 25 years at the Bank of Japan with various experiences in central banking
including bank supervision.
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Last Name Kapasi First Name Mushtaq
Institution International Capital Market Association
Position
Managing Director and
Chief Representative,
Asia-Pacific
Country Hong Kong,
China
Short Bio
Mushtaq Kapasi is ICMA’s Chief Representative for the Asia-Pacific region. He has been based
in Hong Kong since 2002, engaged in senior strategy, capital market and legal roles covering
the region at international banks active in Asia. He has worked as a lawyer in debt capital markets
and derivatives, a structurer in equities and fixed income, a manager of complex trades with
regulatory and accounting considerations, and an adviser to top executives on emerging market
strategy. He has also served as a consultant on financial structures of renewable energy projects
in frontier markets. He is a member of the New York State Bar, and studied mathematics at the
University of Texas and law at Yale University.
Last Name Wong First Name Eugene
Institution Sustainable Finance Institute Asia Limited
Position CEO Country Singapore/Malaysia
Short Bio
Eugene Wong is the Chief Executive Officer of SFIA, an independent institute established to
catalyse ideas on Sustainable Finance at the policy level, as well as propel action in support of
those policy ideas in Asia, particularly in ASEAN. Eugene was previously the Managing
Director, Corporate Finance & Investments of the Securities Commission Malaysia (“SC”). His
portfolio covered IPOs, Corporate ond and Sukuk issuances, Collective Investment Schemes
and Take-overs. He oversaw the SC’s ASEAN related initiatives and was Chair of the Deputies
of the ASEAN Capital Markets Forum (“ACMF”) and the Co-Chair of the its Sustainable Finance
Working Group (“SFWG”). In addition, he was the Co-Chair of the ASEAN Working Committee
on Capital Market Development.
Prior to joining the SC, Eugene held positions in a merchant bank, a stockbroking company
and in the corporate finance division of an international accounting firm.
Eugene is a Fellow of Chartered Accountants Australia and New Zealand, Fellow of CPA
Australia and a Chartered Accountant of the Malaysian Institute of Accountants. He has an
Advanced Diploma in Corporate Finance from The Institute of Chartered Accountants in
England & Wales (ICAEW) and holds a B. Comm. from the University of Melbourne.
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Last Name Kongsakul First Name Jomkwan
Institution Securities and Exchange Commission
Position
Assistant Secretary-
General, Fund Raising
Supervision
Country Thailand
Short Bio
Educational Background
- Bachelor of Economics, Thammasat University
- Master of Business Administration (Major in Finance), Sasin Graduate Institute of Business
Administration of Chulalongkorn University Professional Designation - CFA (since 2000) – CAIA
(since 2012)
Career Background
- Citibank NA, 1992-1994
- Securities and Exchange Commission, Thailand, 1996 - now
Work Experience
Miss Jomkwan joined the SEC Thailand in 1996. She is Assistant Secretary-General and
currently in charge of fund raising supervision. Her duties encompass the oversight of equity and
bond financing and also corporate monitoring.
Previously, she supervised mutual fund offerings. She was also responsible for drafting
regulations relating to permissible investment and investment limit for mutual funds, sales
conduct rules for capital market intermediaries, and also risk management and internal control
guidelines for asset management companies.
Prior to join the SEC, she worked shortly for Citibank, N.A. Bangkok as a mutual fund supervisor.
Jomkwan has earned her bachelor and master degree from Thammasat University and Sasin
Graduate Institute of Business Administration of Chulalongkorn University, respectively. She also
lectures for several universities as well as for various regulatory organizations and course
providers.
Jomkwan is a Chartered Financial Analyst (CFA) and a Chartered Alternative Investment Analyst
(CAIA)
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Last Name Oktavianus First Name Evan
Institution Ministry Finance of Indonesia
Position
Senior Policy Analyst:
Indonesia’s representative as
the Chair for ASEAN Working
Committee on Capital Market
Development
Country Indonesia
Short Bio
Evan is a Senior Policy Analyst at the Fiscal Policy Agency, Ministry of Finance of Indonesia and
is currently appointed as Indonesia’s representative to Chair the ASEAN Working Committee on
Capital Market Development. As Chair, Evan is representing Indonesia in supporting the
Committee’s work in advancing the region’s initiative to enhance sustainable finance on issues
such as taxonomy, transition, enhancement, as well as general policy supports.
He has more than 13 years of extensive experience managing MoF’s international economic and
financial engagement on a wide range of issues from (i) development finance including
sustainable, infrastructure, and disaster financing, (ii) financial stability and regional financial
arrangement, as well as (iii) general regional economic and financial integration.
Evan graduated from Oxford University with a Master of Science Degree on Environmental
Change and Management and will soon be undertaking his Doctoral Study at the University of
Indonesia researching the impact of knowledge management to policy making process
especially in the context of sustainable development agenda.
Last Name Arthur First Name Linda
Institution Asian Development Bank Institute
Position Senior Capacity Building
and Training Specialist Country Japan
Short Bio
Linda Arthur is Senior Capacity Building and Training Specialist at the Asian Development Bank
Institute. Her areas of specialization include comparative policy analysis, education policy reform,
project evaluation, and portfolio management. Prior to joining ADBI, she worked in the Asian
Development Bank’s South Asia, Central and West Asia, and Independent Evaluation departments
as well as ADB’s country offices in Afghanistan and Pakistan. She holds a doctorate from Oxford
University, and an MA and BA from the University of Toronto.
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Last Name Malen First Name Joel
Institution Waseda University
Position Associate
Professor Country Japan
Short Bio
My research investigates how firms modify strategy and business processes to reduce the impact
of business activities on the natural environment. In particular, I study issues of dynamics and
complexity associated with business efforts to drive ongoing reduction in environmental impact
over time—most prominently with respect to corporate decarbonization. I teach graduate and
undergraduate courses on strategic management and on business-natural environment issues.
I currently serve on the editorial review boards of Organization & Environment and Journal of
International Business Policy. I hold a Ph.D. in Strategic Management & Organization from the
University of Minnesota (USA).
Last Name Beirne First Name John
Institution Asian Development Bank Institute
Position Research Fellow Country Japan
Short Bio
Dr. Beirne’s research interests are centered on international finance and macroeconomics.
Previously, he worked at the European Central Bank for over ten years mainly on research and
analysis of global financial market developments, commodities, and financial stability, as well as
global governance issues. He has also worked for a shorter period at the IMF, in academia, and
as an economic consultant in the private sector. John’s most recent work has examined the
implications of climate change for macrofinancial stability, including a co-authored book entitled
‘Climate Change and Sovereign Risk’, which was published in October 2020. John has also
published over 20 articles in peer-reviewed journals such as the Journal of International Money
and Finance, Economic Modelling, Review of International Economics, Emerging Markets
Review, International Review of Applied Economics, and China Economic Review. He holds a
PhD in Economics from Brunel University in the United Kingdom.
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Last Name Park First Name Donghyun
Institution Asian Development Bank
Position Principal
Economist Country Philippines
Short Bio
Dr. Donghyun PARK is currently Principal Economist at the Economic Research and Regional
Cooperation Department (ERCD) of the Asian Development Bank (ADB), which he joined in April
2007. Prior to joining ADB, he was a tenured Associate Professor of Economics at Nanyang
Technological University in Singapore. Dr. Park has a Ph.D. in economics from UCLA, and his
main research fields are international finance, international trade, and development economics.
His research, which has been published extensively in journals and books, revolves around
policy-oriented topics relevant for Asia’s long-term development, including middle-income trap,
service sector development, and financial sector development. Dr. Park plays a leading role in
the production of Asian Development Outlook, ADB’s biannual flagship publication on
macroeconomic issues, and leads the team that produces Asia Bond Monitor, ADB’s quarterly
flagship report on emerging Asian bond markets.
Last Name Tian First Name Shu
Institution Asian Development Bank
Position Economist Country Philippines
Short Bio
Dr. Shu Tian is an Economist at the Economic Research and Regional Cooperation Department
(ERCD) of the Asian Development Bank (ADB). Prior to joining ADB, she was an Associate
Professor of Finance at Fudan University in China. Her main research interests include financial
services and institution, financial market development, investments, and empirical asset pricing.
Her research has been published in academic journals on topics relating to financial asset
pricing, portfolio allocation and financial market development. Dr. Tian works in the teams that
produce Asian Development Outlook and Asia Bond Monitor. She is part of the team that
maintains AsianBondsOnline (https://asianbondsonline.adb.org/) , an online bond market data
portal for ASEAN+3 bond markets under the ASEAN bond market initiative.
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Last Name Morgan First Name Peter
Institution Asian Development Bank Institute
Position
Senior Consulting
Economist and Vice
Chair of Research
Country Japan
Short Bio
Peter Morgan joined ADBI in December 2008. Previously he served in Hong Kong, China as Chief
Asia Economist for HSBC where he was responsible for macroeconomic analysis and forecasting
for Asia. Before that, he was Chief Japan Economist for HSBC and held comparable positions at
Merrill Lynch, Barclays de Zoete Wedd, and Jardine Fleming. Prior to entering the financial
industry, he worked as a consultant for Meta Systems Inc in Cambridge, Massachusetts in the
United States specializing in energy and environmental areas, including energy policy issues in
Asian countries, and at International Business Information KK in Tokyo specializing in financial
sector consulting. His research focuses are macroeconomic policy and financial sector regulation,
reform, financial development, financial inclusion, fintech, financial literacy, and financial
education.
Last Name Azhgaliyeva First Name Dina
Institution Asian Development Bank Institute (ADBI)
Position Research Fellow Country Japan
Short Bio
Her research interests include energy policy, particularly renewable energy, energy efficiency, and
energy storage. She is currently a guest editor for the Applied Energy’s special issue “Integration
of Renewable Energy in Energy Systems, Perspectives on Investment, Technology, and Policy”
Previously, she worked as a Research Fellow in the energy economics division of the Energy
Studies Institute, National University of Singapore. She was also a Research Fellow at the Henley
Business School, University of Reading (UK) where she was involved in empirical analysis of the
impact of local content policy on extractive industries. She worked as Economics Teaching Fellow
at the University College London. She also worked as a leading and chief specialist for the Tax
Committee at the Ministry of Finance of Kazakhstan. She holds a PhD, Master’s, and Graduate
Diploma in economics, all from the University of Essex. She also holds an internationally
recognized teaching qualification from the Fellow of Higher Education Academy and a qualification
in research career management from the Staff Educational and Development Association. More
information is available here: https://www.adb.org/adbi/about/staff-profiles/dina-azhgaliyeva
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Last Name Yoshino First Name Naoyuki
Institution Keio University
Position Professor
Emeritus Country Japan
Short Bio
Dr. Naoyuki Yoshino is Professor Emeritus at Keio University, Tokyo, Japan and until March
2020 was Dean of the Asian Development Bank Institute (ADBI). He obtained his PhD from
Johns Hopkins University. Dr. Yoshino has been a visiting scholar at the Massachusetts Institute
of Technology (United States) and a visiting professor at various universities including the
University of New South Wales (Australia), Fondation Nationale des Sciences Politiques
(France), and University of Gothenburg (Sweden). He has also been an assistant professor at
the State University of New York at Buffalo and an economics professor at Keio University. Dr.
Yoshino's professional career includes membership in numerous government committees. He
was named Director of the Japan Financial Services Agency's (FSA) Financial Research Center
(FSA Institute) in 2004 and is now Chief Advisor. He was appointed as Chair of the Financial
Planning Standards Board in 2007. He has served as Chairperson of the Japanese Ministry of
Finance's Council on Foreign Exchange as well as its Fiscal System Council (Fiscal Investment
and Loan Program Section). Additionally, he has been a Board Member of the Deposit Insurance
Corporation of Japan and President of the Financial System Council of the Government of Japan.
Last Name Sarangi First Name Gopal Krishna
Institution TERI School of Advanced Studies, New Delhi, India
Position Assistant
Professor Country India
Short Bio
Dr Gopal K Sarangi is an economist with more than fifteen years of research and consulting
experience. His primary domain of research covers energy market and regulation, energy
financing, intersection of energy technologies, fuels and resources with public policies, social
systems and processes, energy and climate nexus, governance and institutional analysis of
energy transition questions and impact assessment of energy and environmental interventions.
He has a PhD on ‘Sustainability Assessment of India Electricity Sector’, from TERI School of
Advanced Studies, New Delhi. He has contributed as PI, Co-PI, and team member to several
collaborative projects. To his credit, he has published several peer-reviewed research papers in
the domain of his research and has been invited to deliver talks in several national and
international forums. He teaches courses on Principles of Economics, Development Economics,
Environmental and Resource Economics, Energy Economics and Policy.
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Last Name Finn First Name Govinda
Institution Kobe University
Position Economist Country Japan
Short Bio
Govinda is former Japan & Developed Asia Economist at the Research Institute at Aberdeen
Standard Investments based in Singapore. He sits on the international advisory board of the Asia
Scotland Institute and chaired the CityUK’s Japan Market Advisory Asset Management Group.
Govinda joined Aberdeen Standard Investments in 2009 and previously worked in Global
Strategy within the Multi-asset Investment Team. Before joining Aberdeen Standard
Investments, he worked in Tokyo and Beijing as a financial journalist. Govinda is pursuing a PhD
at Kobe University, Graduate School of Economics. He has an MA from SOAS, University of
London and a BA from Leeds University, which included a year at Darla Moore Business School,
University of South Carolina. He holds an Investment Management Certificate.
Last Name Nemoto First Name Naoko
Institution Asian Development Bank Institute
Position Financial
Economist Country Japan
Short Bio
Naoko Nemoto is a financial economist at the Asian Development Bank Institute, Tokyo. Her
research interests include monetary policy, financial markets, financial inclusion, and sustainable
development goals.
As former managing director at Standard & Poor’s Ratings Services, Naoko headed the Financial
Service group, covering financial institutions, insurance, and brokerage firms in Japan. Before
that she was an economist and analyst at the Bank of Japan.
She is a member of the Advisory Board of Japan’s Ministry of internal Affairs and Communication.
She has authored three books on finance.
Naoko has a BA in law from Waseda University, Tokyo, an MBA from the University of Chicago,
and a PhD in finance from Hitotsubashi University, Tokyo.
She is a professor at Waseda Business School (Graduate School of Business and Finance).
She is a board member of the Government Pension Investment Fund Japan, and Mizuho Bank.
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Last Name Mishra First Name Ranjeeta
Institution Asian Development Bank Institute
Position Project
Consultant Country India
Short Bio
Dr. Mishra is a project consultant at ADBI. Her research interests include development
economics, new institutional economics, and applied econometrics. She particularly focuses on
issues such as urbanization and slum redevelopment, food security, energy, and the Sustainable
Development Goals. She specializes in both quantitative and qualitative research.
Prior to joining ADBI, she was a UNU-JSPS Postdoctoral Fellow at the United Nations University
Institute for the Advanced Study of Sustainability (UNU-IAS), Tokyo. She remains a part-time
project consultant at UNU-IAS for Governance for Sustainable Development and Water for
Sustainable Development projects.
Last Name Mercado First Name Rogelio Jr
Institution Asian Development Bank
Position Economist Country Philippines
Short Bio
Rogelio Mercado is an Economist at the Regional Cooperation and Integration Division of the
Economic Research and Regional Cooperation Department of ADB. He contributes to various
division publications and knowledge products. His research interests include capital flows,
financial integration, financial stress, international portfolio allocation, asset price discovery,
financial inclusion, and economic convergence. Prior to joining the ADB in July 2020, he was a
Senior Economist at the South East Asian Central Banks Research and Training Centre, where
he designed and conducted training courses for member central bank staff, and led the release
of SEACEN Capital Flows Monitor. Prior to that, he was a Lecturer in Economics at Newcastle
Business School in United Kingdom. He also held various academic teaching positions and
worked at the Bangko Sentral ng Pilipinas, and National Economic and Development Authority
in the Philippines.
Rogelio earned his PhD in Economics from Trinity College Dublin in 2017, and an Advanced
Studies Certificate from the Kiel Institute for World Economy in 2012.
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Last Name Prosperi First Name Lorenzo
Institution Prometeia
Position Senior Specialist Country Italy
Short Bio
Lorenzo Prosperi is Senior Specialist in the Area of Market Analysis and Financial
Intermediaries of Prometeia. He completed his PhD in Economics at Toulouse School of
Economics in 2019 and LUISS University in 2015. He previously gained Master Degrees in the
field of Financial Econometrics and Macroeconomic Theory at the University of Florence,
LUISS University and TSE. Since 2016 he is a lecturer at the University of Bologna.
Last Name Kato First Name Yasuyuki
Institution Kyoto University
Position Visiting professor Country Japan
Short Bio
He had held positions as the head of global quantitative research and a board member of
Nomura before he became a professor of Kyoto University in 2011. Now he also holds positions
of a member of the management board of the Government Pension Investment Fund(GPIF) of
Japan, an editor of Securities Analysts Journal of Japan, etc. He wrote various books and
papers including “The Emergence of ETFs in Asia-Pacific”(2019) , “The Frontier of ESG
Research”(2018) and “Investment Management in the Aging Era”(2017).
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Last Name Liu First Name Lian
Institution Asian Development Bank Institute
Position Research
Associate Country Japan
Short Bio
Dr. Lian Liu is a research associate in Asian Development Bank Institute and a part-time lecturer
at Musashino University. Her research interests include the East Asian financial market,
international capital flows, and ESG investment. Her works have been published in several peer-
reviewed journals.
She also has experience working in the international financial institutions, such as, Société
Générale (Tokyo, Japan) and Royal Bank of Scotland (Beijing, China). She holds a Ph.D. from
the Graduate School of Asia-Pacific Studies, Waseda University.
Last Name Korwatanasakul First Name Upalat
Institution School of Social Sciences, Waseda University
Position Assistant
Professor Country Japan
Short Bio
Upalat Korwatanasakul, Assistant Professor at School of Social Sciences, Waseda University,
is an international development, finance, and trade economist with interest in a wide range of
economic and social development topics, especially in East and Southeast Asia. He has worked
and had research collaborations with major international organisations and research institutes
such as the Economic Research Institute for ASEAN and East Asia (ERIA), the International
Labour Organization (ILO), the Japan International Cooperation Agency Research Institute
(JICA-RI), the United Nations Economic and Social Commission for Asia and the Pacific (UN
ESCAP), among others. His areas of expertise include trade policy, human capital and the labour
market, financial technology and financial development, and sustainable development. He holds
a PhD in International Studies majoring in Development Economic Analysis from the Graduate
School of Asia-Pacific Studies, Waseda University (Tokyo, Japan).
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Last Name Lau First Name David
Institution Waseda University
Position Associate
professor Country Japan
Short Bio
Dr. David Lau is a BCom, BCom (1st Class Honours), and PhD graduate from New Zealand’s
leading university, the University of Auckland. He began his academic career at the University of
Auckland in 2010, teaching predominantly in the core financial accounting courses in the
undergraduate programme. David had also been the Director of the Honours and Masters
programme for the Accounting and Finance Department of the University of Auckland. His
research interests are in the areas of financial accounting, voluntary disclosures, and auditing.
He has published in Journal of Corporate Finance, Meditari Accountancy Research, Pacific
Accounting Review, and Journal of Education for Business. In 2020, David was awarded the
Literati Award for Outstanding Paper for 2020 one of his journal articles. He was a visiting scholar
at Kansai University in 2011 and 2015, and an invited scholar at Kansai University in 2017. In
2015 and 2017, David was one of the keynote speakers at the Data Science Laboratory (DSLAB)
conferences. David is also a certified public accountant.