Strengthening ESG Investment/ Sustainable Investment under ......Investment product strategy and...

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1 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.

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.