Conference Programme

    • 08:00 - 08:40

      Arrival & Registration

    • 08:40 - 09:15

      Market Opening Ring the Bell Ceremony

      Speaker
      • Boon Chye
        Boon Chye Loh Chief Executive Officer, SGX Group & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, SGX Group & Chairman, The World Federation of Exchanges

        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015.  He is also an Executive and Non-Independent Director on the SGX Board.  As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange. 

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions.  Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017.  He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015.  He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee.  From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation.  He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore. 

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.


    • 09:15 - 09:20

      Opening Remarks

      Speaker
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 36% are in Asia-Pacific, 43% in EMEA and 21% in the Americas. WFE exchanges are home to 55,000 listed companies, and the market capitalisation of these entities is over $111 trillion; around $124 trillion (EOB) in trading annually passes through WFE members (at end 2023). WFE’s 87 member CCPs and clearing services collectively ensure that risk takers post some $1.3 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

    • 09:20 - 09:30

      Keynote Speech

      Speaker
      • Gillian
        Gillian Tan Assistant Managing Director (Development and International), Chief Sustainability Officer (Sustainability Group) Monetary Authority of Singapore
      • Gillian Tan

        Assistant Managing Director (Development and International), Chief Sustainability Officer (Sustainability Group) Monetary Authority of Singapore

        Ms Gillian Tan is the Assistant Managing Director of the Development and International Group and Chief Sustainability Officer, overseeing the development of Singapore as an international financial centre as well as MAS’ sustainability strategies and international relations.

        Prior to this appointment, Ms Tan was Executive Director of the Financial Markets Development Department, focussing on the development of the capital market, asset management and insurance sectors as well as sustainable finance capabilities and solutions in Singapore.  She was also tasked with setting up MAS’ Enforcement Department, which is responsible for investigating breaches of anti-money laundering regulations, market misconduct offences and other laws administered by MAS, and served as its Executive Director from 2016-2019.

        Ms Tan previously worked in the Supreme Court of Singapore as a Justices’ Law Clerk, Assistant Registrar and Magistrate, and was subsequently appointed as a District Judge of the State Courts of Singapore.  She served as a Deputy Public Prosecutor and Deputy Senior State Counsel in the Attorney-General’s Chambers for a number of years.

        Ms Tan co-chairs the Private Banking Industry Group, the Singapore Funds Industry Group and the Human Resources Industry Group. She serves on the Steering Committee of the Green Finance Industry Taskforce and the Advisory Boards of the Singapore Green Finance Centre and the Sustainable and Green Finance Institute, which conduct multi-disciplinary research and talent development in sustainability and sustainable finance. Ms Tan is also a Board Member of Infrastructure Asia, which supports Asia’s social and economic growth through infrastructure development.  She is a member of the Executive Committee of the International Monetary Fund’s Singapore Regional Training Institute. 

        Ms Tan graduated from Cambridge University with a First Class Honours in Law.  She also holds a Master of Laws from Harvard Law School.  She was awarded the Public Administration Medal (Silver) in 2018 in recognition of her contributions to public service.

    • 09:30 - 09:55

      Session 1: Turning Insights into Impact: An Exchange’s Transition Plan Case Study

      This session will offer a roadmap to exchanges on developing a transition plan for their business that focuses on the markets they operate in and products they offer. SGX will walk us through their journey to creating their first transition plan, and the key lessons they learned from the process. SGX will outline: the importance of transition planning for exchanges; the key processes, structures and stakeholders needed to ensure success; why transition plans for exchanges differ from those of corporates and banks, where guidance and best practice already exists; and how to manage the risks associated with publishing a transition plan. 

      During the session, SGX will answer the following: Why and how was SGX’s transition plan developed? What lessons were learnt on the journey? How does an exchange’s transition plan differ from that of an issuer or bank? How did climate scenario analysis impact SGX’s transition plan and the sustainability products they offer? What was the involvement of departments across SGX? How does SGX manage the risks associated with its transition plan?

      Speaker
      • Herry
        Herry Cho Managing Director, Head of Sustainability and Sustainable Finance Singapore Exchange (SGX)
      • Herry Cho

        Managing Director, Head of Sustainability and Sustainable Finance Singapore Exchange (SGX)

        Since 2021, Herry helps drive SGX Group’s sustainability and sustainable finance direction and implementation, to transform it and its ecosystem into a world-class, trusted multi-asset sustainable exchange. Herry serves as Alternate Director for Climate Impact X, is a Steering Group member for GFANZ, Management Advisory Board member of National University of Singapore’s Sustainable and Green FinanceInstitute, and Convening Member for Singapore Sustainable Finance Association.

        Prior to this, Herry pioneered APAC’s sustainable finance markets as the inaugural Head of Sustainable Finance APAC at ING Bank. She served on the EXCOM of ICMA’s Green/Social Bond Principles, until 2024 was a TNFD taskforce member, and Steering Committee member for MAS/IBF’s Sustainable Finance Jobs Transformation Map. She leverages on broad financial background in M&A and Capital Structuring, Equity & Debt Capital Markets, and read Molecular and Cellular Biochemistry (MBioch) at University of Oxford.

    • 09:55 - 10:40

      Panel 1: Turning Insights into Impact: The Future of Transition Planning

      Transition planning is critical to fostering resilient businesses and long-term profitability for investors. This panel discussion will respond to the SGX case study and explore how exchanges can support issuers in developing effective transition plans. 

      The panel will discuss the importance of transition plans in translating data into practical actions and informing a strategic approach to sustainability risks and opportunities. Unlike traditional disclosures, transition plans are dynamic and so the session will also address common concerns around how to communicate shifting priorities over time, and how new data may prompt a re-evaluation of earlier assumptions. In particular, the session will look at how to manage the evolution of transition plans as best practice and science develop and how to facilitate an ongoing dialogue both within a company and with its external stakeholders to inform that evolution. The journey of developing a transition plan is as important as the destination. 

      Separately, the panel will discuss the important link between national transition plans and issuers’ transition plans, and the challenges that arise when national transition plans have not yet been developed.

      The session will answer the following: What can exchanges do to support the development of transition plans by issuers? What makes a good transition plan? What does having a transition plan change and what advantages does having a robust transition plan offer? What practical advice can panellists share in beginning the process and in managing updates? What areas are challenging for issuers looking to develop a robust transition plan? How is assessment of transition plans by third party reviewers evolving globally? How can assessments be scaled to address the cost for SME issuers and markets?


      Moderator
      • Joseph
        Joseph Portelli Executive Chairman Malta Stock Exchange
      • Joseph Portelli

        Executive Chairman Malta Stock Exchange

        Joseph has over 38 years of experience employed in various capacities within the financial industry in the U.S and in Malta. He has experience as a portfolio manager, currency, and futures trader, and has worked with Bank of America, Nomura Securities, Goldman Sachs, Millburn Ridgefield, and Liongate Capital Management. He was also chief investment officer and managing director of FMG Funds, an emerging markets specialist.

        He is currently the Executive Chairman of the Malta Stock Exchange and sits on its Audit Committee. Between April 2013 and April 2015 he sat on its board and chaired its Risk Management Committee. In 2015 he was named executive chair of the Malta Stock Exchange PLC and has founded and chairs various MSE-owned subsidiaries such as the Malta Stock Exchange Institute amongst others. He also offers risk management consulting, and sits on the boards and investment committees of numerous asset management and financial service companies domiciled in Malta. Joseph also sits on the Malta Financial Services Advisory Council a board, constituted by the Finance Ministry of Malta and is chairman of the World Federation of Exchanges, Governance and Nominations Committee.

        Joseph was also a visiting lecturer at the University of Malta and has taught courses at the Malta Institute of Accounting, and other institutions. He was a regular contributor to the Times of Malta, writing about investor education. Joseph graduated with a BA from Baruch College, City University of New York.

      Speakers
      • Azalina
        Azalina Adham Managing Director Securities Commission Malaysia
      • Azalina Adham

        Managing Director Securities Commission Malaysia

        Datin Azalina Adham was appointed as Managing Director on 1 Jan 2023. She joined the SC as Executive Director, Strategy and Policy on 1 July 2022. She has over 29 years of diverse financial and capital market experience in investment banking, corporate finance as well as the exchange business. Some of her key areas of expertise are strategy and transformation, strategic communications and business development. She brings with her an extensive network amongst key capital market stakeholders in Malaysia namely senior policymakers, regulators, market participants and senior corporate figures as well as the global exchanges fraternity.

        She was formerly the Chief Operating Officer of Bursa Malaysia Berhad. During her tenure, she led several transformational initiatives including Bursa Marketplace - the first-of-its-kind virtual marketplace; Bursa Anywhere - ASEAN's first mobile depository e-services app; and the Leading Entrepreneur Accelerator Platform (LEAP) Market - ASEAN's first-of-its-kind alternative capital raising platform for SMEs.

        Prior to joining Bursa Malaysia, she was an investment banker with experience in corporate banking, corporate finance and privatisation having served with Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) and Alliance Investment Bank Berhad (formerly known as Amanah Merchant Bank Berhad).

        Datin Azalina had also served as an Independent Non-Executive Director on the board of several public listed companies in Malaysia. She was also an Independent Non-Executive Director of a Ministry of Finance Incorporated (MOF Inc) company, where she had served as the Chairman of its Board Risk Management Committee and Board Change Management Committee.

        She graduated with a Bachelor of Science in Management/Finance from Purdue University, USA in 1992. She also completed the Advanced Management Programme at Harvard Business School Boston, Massachusetts, USA in 2018.

      • Diana
        Diana Guzmán Group Chief Sustainability Officer & Chair of the Prudence Foundation Prudential Plc
      • Diana Guzmán

        Group Chief Sustainability Officer & Chair of the Prudence Foundation Prudential Plc

        Diana Guzmán is the Group Chief Sustainability Officer & Chair of the Prudence Foundation for Prudential Plc. With over 18 years of global experience in Sustainability, Diana has worked with both public and private institutions across Europe, Asia, Africa and Middle East. 

        Before joining Prudential, Diana was the Head of Sustainable Development Investment Partnership & Development Finance at the World Economic Forum (WEF) in Geneva. There, she led global alliances to create innovative de-risking approaches through blended finance and inclusive net zero transitions, as well as other sustainable development goals in emerging and developing economies. Prior to her role at WEF, Diana served as the Director for CDP, the global environmental disclosure system, where she was responsible for driving listed companies, investors, and municipalities to effectively measure and manage environmental risks and opportunities to influence investment decisions. Her career also includes working in the carbon markets, originating and trading carbon emissions reductions from clean technologies. 

        Born and raised in Mexico, she holds an MBA from London Business School, a BA in Financial Management from Monterrey Institute of Technology, a diploma in ESG Analysis and Investments from Politecnico di Milano Graduate School of Management, and a diploma in Chinese Mandarin from Beijing Normal University. Diana is fluent in Spanish, English, Italian, and conversational in Mandarin and French.

      • Mervyn
        Mervyn Tang Head of Sustainability, APAC Schroders
      • Mervyn Tang

        Head of Sustainability, APAC Schroders

        Mervyn Tang is the Head of Sustainability APAC. Currently based in Singapore, Mervyn is responsible for Schroders’ Sustainability initiatives in the Asia Pacific. He works in partnership with client facing and product teams to build the firm’s sustainable investment propositions across the region, and leads the company’s Regional Centre of Excellence for Sustainability.

        Prior to joining Schroders in July 2021, Mervyn was Global Head of ESG Research at Fitch Ratings, overseeing a research team of 4 analysts across London and Hong Kong which primarily focuses on thematic and cross sector ESG research. He also held roles at MSCI, the Bank of England, and Citigroup.

        Mervyn holds a Master of Arts degree in Economics and Management from the University of Oxford and a Master of Science degree in Economics from the University of London. Mervyn is also a Chartered Financial Analyst (CFA) Charterholder, a lecturer for the Nanyang Technology University MSc in Asset and Wealth Management program, a member of the advisory committee to Hong Kong University of Science and Technology’s BSc in Sustainable and Green Finance Program, and a faculty member of the Wealth Management Institute in Singapore teaching the “Certificate in ESG Advisory” and “Certificate in Introduction to Climate and Decarbonisation Strategies” courses. Mervyn is also the co-chair of the Singapore Sustainable Finance Association’s Transition Finance workstream, and also co-chair of the Investment Management Association of Singapore’s ESG working group.

      • Dennis
        Dennis Wan Head of Capital Markets (APAC) CDP
      • Dennis Wan

        Head of Capital Markets (APAC) CDP

        Dennis Wan heads the front-line team engaging with regional financial markets actors and stakeholders for CDP, an NGO running the world’s largest repository of climate change, water security and forestation environmental data. Founded on transparency, CDP has produced scoring and research to catalyse sustainable investment, procurement and policy decisions across the globe for over two decades.

        After personally witnessing USA forest fires in 2021, Mr. Wan left a career in banking to drive environmental transparency by joining CDP. Immediately prior, he spent 22 years with Credit Suisse across Tokyo, New York and Singapore, rising from junior accountant to Chief Operating Officer of Hong Kong.

        In this final role, he ran the Board of Directors and locational governance for all banking business lines and support functions, interacting regularly with international regulators and authorities. Mr. Wan studied with the Cambridge Institute of Sustainability Leadership, graduated from Imperial College and is a Fellow of the Institute of Chartered Accountants of England & Wales.

    • 10:40 - 11:00

      Coffee break

    • 11:00 - 12:00

      Panel 2: Drivers and Processes in Establishing Sustainability Product Designations

      Stock exchanges play a key role in supporting sustainability by offering a growing range of products that align capital flows with environmental and social goals. This panel discussion will explore the conceptual processes and considerations that play a role in developing an exchange’s range of product offerings and how demand is evolving globally.

      The session will explore the sustainability themes that exchanges should be considering in developing and evolving their product range, from nature and biodiversity to education and gender equality. It will also highlight what emerging standards are available to assist exchanges in this process, such as the WFE’s Green Equity Designation, and where there is a need for further standards to ensure that products are credible and meet investors’ evolving needs and preferences. Panellists will additionally discuss the key considerations in selecting the right instruments and themes for products, and emerging trends that exchanges should be aware of, including an increasing demand for transition products.

      The panel will answer the following: To what extent have carbon markets shaped sustainability offerings and could they provide a model for future sustainability products? How have exchanges established their product ranges and, if they evolved, what challenges arose as a result? What drives exchanges’ choice of offering and what indicators do they look at to establish when market demand for a product is sufficiently matured to launch? How do exchanges see products evolving and is this particular to their region? What role do taxonomies play in supporting the development of sustainable products? What new areas do exchanges see emerging – for example, do they expect rapid growth in relation to nature (or other areas) and, if so, what form of product/s would be most appropriate?


      Moderator
      • John
        John McKenzie Chief Executive Officer, TMX Group & Vice Chairman, The World Federation of Exchanges
      • John McKenzie

        Chief Executive Officer, TMX Group & Vice Chairman, The World Federation of Exchanges

        Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

        Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

        From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

        Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.


      Speakers
      • Christa
        Christa Clapp Global Head of Sustainable Finance Market Analytics S&P Global Ratings
      • Christa Clapp

        Global Head of Sustainable Finance Market Analytics S&P Global Ratings

        Christa Clapp co-founded Shades of Green, a global leader in independent opinions for green bonds, which is now a part of S&P Global. Within S&P Ratings, she leads sustainable finance market analytics, focusing on thought leadership, strategy, and product development. She was previously the Research Director for Climate Finance at CICERO climate research institute and has over 20 years of experience in climate policy and economic analysis, holding previous positions at the OECD and the US EPA, where she received a National Honor Award Gold Medal. She was a Lead Author for the Intergovernmental Panel on Climate Change 6th assessment report on mitigation for the finance and investment chapter and sits on the Editorial Board for the Climate Policy Journal.

      • Freddy
        Freddy Lee Chin Yeow Head of Digital Platform Bursa Malaysia
      • Freddy Lee Chin Yeow

        Head of Digital Platform Bursa Malaysia

        With over three decades of experience in the IT industry, Freddy Lee currently serves as the Head of Digital Platform at Bursa Malaysia, where he has been instrumental in developing innovative, Shariah-compliant solutions. During his tenure, Freddy has led key projects, including:

        • - The **Bursa Gold Dinar**, enabling seamless gold investments via mobile app.
        • - The **Bursa Carbon Exchange**, pioneering the world's first Shariah-compliant multi-environmental product exchange for trading carbon credits and renewable energy certificates.
        • - The **BR Capital platform**, creating a digital credit market platform to assist companies in securing funding through credit-rated investment notes.

        Now, Freddy is collaborating with technology partners to drive Environmental, Social, and Governance (ESG) adoption across Malaysia through the Centralised Sustainability Intelligence platform, focusing on public-listed companies and their supply chains.

        Before joining Bursa Malaysia, Freddy spent 28 years at IBM Malaysia, culminating in his role as Chief Technology Officer. Throughout his career, Freddy's visionary leadership has made a significant impact on both the technology and sustainability landscapes.

      • Kavitha
        Kavitha Menon, CFA Director Singapore Sustainable Finance Association (SSFA)
      • Kavitha Menon, CFA

        Director Singapore Sustainable Finance Association (SSFA)

        Kavitha Menon joined SSFA in October 2023 as its Director. As the head of SSFA, she is responsible for ensuring that the association achieves its mission of building a vibrant and inclusive ecosystem for sustainable finance in Singapore. Apart from the day-to-day running of the association, Kavitha’s role involves stakeholder engagement, membership recruitment, thought leadership, and enabling collaborations across the financial sector, non-financial sector, and government organisations to advance sustainable finance in Singapore. 

        Prior to her current role, Kavitha was the Global Head of Equity Research team at Foord Asset Management in Singapore where she headed their ESG integration process. She has over 15 years of experience in equity investment management, specialising in Global Financials, based out of Singapore and India. 

        Kavitha has a Master’s in Public Administration from Harvard University, John F. Kennedy School of Government, where she was a John F. Kennedy Fellow and Edward S. Mason Fellow. She is a Chartered Financial Analyst (CFA) and has a Master’s in Business Administration (Finance) from Narsee Monjee Institute of Management Studies (India) and a Bachelor of Engineering (Electronics and Communication) from Anna University (India). 

        Kavitha is passionate about sustainable finance. Having analysed investments using a risk-return framework for all these years, she is keen to delve into ‘impact’ to marry investor returns with social and environmental good and drive that change in the financial markets

      • Ben
        Ben Stuart Co-founder, Chief Commercial Officer Xpansiv
      • Ben Stuart

        Co-founder, Chief Commercial Officer Xpansiv

        Ben Stuart brings more than a decade’s experience in environmental markets, and co-founded CBL in 2009. He designed and implemented the CBL product offering across environmental, energy, and soft commodity products, and was part of the joint government initiative that established the Australian water exchange, H2OX. Stuart coordinated development of the first Australian gas pipeline auctions of storage and physical gas, and oversaw the contract design and implementation for the first exchange traded differentiated natural gas contracts in 2019.

        Prior to CBL, Stuart was a broker for Tullett Prebon in London for the EU ETS and the UK Power Markets.

    • 12:00 - 12:35

      Academic Paper Presentation

      Supply Chain Disruptions: The Propagation and Economic Costs of ESG Shocks

      This paper, selected by the WFE's ESG Academic Advisory Group, investigates how negative ESG-related news about suppliers impacts firms’ supply chains and performance. It finds that customer firms are more likely to terminate supplier relationships following negative ESG-related news, particularly when input specificity is low and suppliers can be easily replaced. While these terminations are costly for customer firms in general, the lower terminating costs associated with non-specialised inputs help to explain their higher likelihood in this context.

      Presenters
      • Dr. Erfan
        Dr. Erfan Ghofrani Financial Economist The World Federation of Exchanges
      • Dr. Erfan Ghofrani

        Financial Economist The World Federation of Exchanges

        Erfan Ghofrani is a Financial Economist at the World Federation of Exchanges (WFE), with expertise in environmental economics, sustainable finance, and firm dynamics. He holds a Ph.D. in Economics from Pompeu Fabra University. His research focuses on environmental issues, supply-chain dynamics, IPO trends, and stock exchange consolidation.

      • Victoria
        Victoria Powell Senior Manager, ESG Regulatory Affairs The World Federation of Exchanges
      • Victoria Powell

        Senior Manager, ESG Regulatory Affairs The World Federation of Exchanges

        Victoria Powell leads the WFE’s sustainability work.

        Victoria has decades of experience in financial services regulation gained both in the UK regulator and as a founding member and Director at the European Securities Markets Authority (ESMA). More recently, she was a Director of Regulatory Policy at an Asset Manager, Ruffer LLP where she managed the implementation of numerous regulatory projects and contributed to Ruffer’s ESG strategy and processes.

    • 12:35 - 13:45

      Lunch

    • 13:45 - 14:20

      Academic Paper Presentation

      Pricing the Priceless: The Financing Cost of Biodiversity Conservation

      This paper, selected by the WFE's ESG Academic Advisory Group, explores the economic costs of biodiversity conservation and how financial markets price the risks those costs induce. As an example, the paper examines the “Green Shield Action,” a major regulatory initiative launched in China in 2017 to enforce biodiversity preservation rules in national nature reserves. While improving biodiversity, the initiative led to significant increases in bond yields for municipalities with these reserves, effectively increasing the cost of public capital.

      Presenters
      • Prof. Lin William
        Prof. Lin William Cong Rudd Family Endowed Chair Professor of Management and Professor of Finance Johnson Graduate School of Management at Cornell University
      • Prof. Lin William Cong

        Rudd Family Endowed Chair Professor of Management and Professor of Finance Johnson Graduate School of Management at Cornell University

        Lin William Cong is the Rudd Family Endowed Chair Professor of Management and Professor of Finance at the Johnson Graduate School of Management at Cornell University, where he is the founding faculty director for the FinTech Initiative. He is also an Editor at the Management Science, an editorial board member for multiple leading academic and practitioner journals, a Research Associate at the National Bureau of Economic Research, a senior fellow and founding track director at the Asian Bureau of Finance and Economic Research, a faculty scientist at the Initiative for Cryptocurrencies & Contracts, a lead founder of multiple international research forums, and is formerly a Kauffman Foundation Junior Faculty Fellow, an UBRI Educator of the year, a Poets & Quants 40 under 40 World Best Business School Professor, a 2022 Top 10 Quant Professor, a finance professor at the University of Chicago, and a George Shultz Scholar at the Stanford Institute for Economic Policy Research. 

        As a world-leading scholar for AI, digital economics, and financial technology, he and his coauthors have pioneered the studies of blockchain economics, tokenomics, AI for Finance, sustainability studies, information design, etc. He has won numerous paper prizes and research grants, spoken at hundreds of world-renowned universities, venture funds, investment and trading shops, and central banks. He has also advised leading investment and FinTech and investment firms, and various government and regulatory agencies. Prof. Cong received his Ph.D. in Finance and MS in Statistics from Stanford University, and A.M. in Physics jointly with A.B. in Math and Physics, a minor in Economics, and a language certificate in French from Harvard University.

      • Dr. Leila
        Dr. Leila Fourie Group Chief Executive Officer Johannesburg Stock Exchange
      • Dr. Leila Fourie

        Group Chief Executive Officer Johannesburg Stock Exchange

        With over 30 years of international experience, primarily in financial services, Leila Fourie has served on multiple boards and held senior roles in banking, capital markets and payments.

        Leila was appointed as Group CEO of the Johannesburg Stock Exchange effective 1 October 2019. Leila also currently serves on the board of the United Nations Global Investors for Sustainable Development convened by the UN Secretary General, where she held the role of inaugural Co-chair from 2019.

        Prior to her role, Leila served as Executive responsible for Consumer Finance at Australia’s largest bank, The Commonwealth Bank of Australia, and served as the NSW Vice President of the Economic Society of Australia and on the Board Audit Committee of Lifeline Australia. Before this, Leila she held the role of CEO of the Australian Payments Network.

        Before moving to Australia, Leila served on the Board of the Johannesburg Stock Exchange as Executive Director. Leila previously worked for one of South Africa’s largest banks, Standard Bank as Card Division Managing Director. During this time, she served as Chairman on the board of Diners Club and Board Member on Discover’s Chicago-based Diners Club International Advisory board. Leila started in Standard Bank’s Investment Bank as Global Director Credit analytics, capital and portfolio management for SA, UK, Hong Kong, Russia, Brazil and Argentina.

        Leila has a PhD in Economic and Financial Sciences and won the Economic Society South Africa Founders’ award in 2012 for best Masters Economics thesis in the country. Leila has published several articles in academic journals and actively advocates for policy development in various sectors.

        Leila is an active rock climber, mountaineer and cyclist and plays the piano in her spare time.

    • 14:20 - 15:20

      Panel 3: Building Tomorrow: The Role of Exchanges in Empowering Sustainable Supply Chains

      As global sustainability regulations continue to evolve, companies are facing increased expectations to not only manage their own operations but also take greater responsibility for their supply chains. EU regulations, particularly the Corporate Sustainability Due Diligence Directive (CSDDD), require companies to identify and mitigate environmental and human rights risks across their value chains, with implications for suppliers both within and outside the EU. 

      While the recent proposal for an Omnibus Regulation has introduced some uncertainty around implementation timelines in the EU, the direction of travel is clear. Companies that prepare early and begin integrating supply chain due diligence into their strategies are likely to benefit from increased resilience, investor confidence and long-term competitiveness. 

      This session will examine the key challenges and opportunities facing companies that are looking to manage and report on their supply chains. It will also explore how exchanges can play a key role in supporting issuers – especially in emerging markets – to navigate the evolving landscape, manage risks, and seize the opportunities that come with building more sustainable supply chains.

      The discussion will explore the following: What are the main implications of regulation and increased scrutiny on this topic for issuers and exchanges? Will the Commission’s announcement for an Omnibus Regulation simplifying EU regulations impact timelines and the need for preparedness? What are issuers’ priorities when it comes to sustainability in supply chains? What could exchanges do to support issuers’ efforts, particularly in jurisdictions outside Europe? How are issuers managing supply chain risks and opportunities, including evolving regulation and stakeholder expectations? What are the benefits and opportunities for businesses that take the initiative on supply chain management and reporting? What impacts, if any, are being seen from early movers (i.e. is it impacting procurement significantly and, if so, how)?  


      Moderator
      • Kendal
        Kendal Vroman Chief Transformation Officer CME Group
      • Kendal Vroman

        Chief Transformation Officer CME Group

        Kendal (Ken) Vroman serves as CME Group’s Chief Transformation Officer. He is responsible for overseeing the company’s migration process as part of its 10-year partnership with Google Cloud to transform global derivatives markets through cloud adoption. He also leads the planning and execution function across the organization.

        Prior to assuming his current role, he most recently served as Senior Managing Director, International and Optimization Services.

        Since joining the company in 2001, Vroman has held a variety of senior leadership roles including Managing Director of Planning and Execution, Global Head of Commodity Products and OTC Solutions, and Managing Director and Chief Corporate Development Officer. Vroman played a key leadership role in integration planning associated with the NEX acquisition in 2018, the CME/CBOT merger in 2007, the historic CME/CBOT clearing agreement in 2003-2004 and the company's initial public offering in 2002.

        Before joining the company, he worked as Vice President, Corporate Operations/Chief of Staff to the Chief Executive Officer for marchFIRST Inc. from 1999-2001. At marchFIRST, he handled a variety of executive level project management tasks, including integrating staff and operations during the 2000 merger of USWeb/CKS and Whittman-Hart. Prior to the merger, Vroman served as Principal for Whittman-Hart’s

        Collaborative Technologies Group from 1995-99. He also worked as a Senior Consultant for Andersen Consulting LLP’s Americas Information Systems Division.

        He earned a bachelor’s degree in applied computer science from Illinois State University and a master’s of management degree, with an emphasis in finance and marketing, from the J.L. Kellogg School of Management at Northwestern University.

      Speakers
      • Lim Sian
        Lim Sian Choo Chief Sustainability Officer Bumitama Agri
      • Lim Sian Choo

        Chief Sustainability Officer Bumitama Agri

        Lim Sian Choo, the Chief Sustainability Officer since 27 May 2020, joined the Group in 2011. Her responsibilities encompass Corporate Secretarial Services and Corporate Social Responsibility, working closely with stakeholders, including the RSPO, in various capacities. She is an active member of numerous RSPO standing committees, working groups, and task forces, including as a member and co-chair of the Complaints Panel. Her career started in 1982 as a Chartered Accountant, and subsequently she held significant roles in various companies, including the Hong Leong Group of Malaysia as Group Financial Controller until 2011. In 2009, she served as a Non-Executive Director and Audit Committee member of Southern Steel Berhad. She earned her Bachelor of Commerce and Administration degree from Victoria University, Wellington, New Zealand, in 1981, and is a member of the Malaysian Institute of Accountants.

      • Jaclyn
        Jaclyn Dove Managing Director – Global Head of Sustainable Finance Strategic Initiatives Standard Chartered Bank
      • Jaclyn Dove

        Managing Director – Global Head of Sustainable Finance Strategic Initiatives Standard Chartered Bank

        Jaclyn is a visionary Managing Director at Standard Chartered Bank (SCB). As Global Head of Sustainable Finance Strategic Initiatives in the Chief Sustainability Office (CSO) based in Singapore, she blends extensive financial markets and banking experience with a commitment to sustainability. She is responsible for defining and enabling the sustainability frameworks that drive SCB’s green, transition, social and sustainable lending businesses. With 20 years’ experience in banking, markets, and risk management she’s a seasoned executive with broad geographic coverage across EMEA and Asia, with a deep knowledge of managing corporates, loan syndications, global subsidiaries and financial institutional businesses at JP Morgan, Barclays and Standard Chartered. Jaclyn leads a multi-disciplined team across markets to drive initiatives that deliver SCB’s mission as a Global Cross-Border Affluent Bank fortified in sustainability.

      • Dr. Soraphol
        Dr. Soraphol Tulayasathien Senior Executive Vice President Stock Exchange of Thailand
      • Dr. Soraphol Tulayasathien

        Senior Executive Vice President Stock Exchange of Thailand

        Dr. Soraphol is Senior Executive Vice President at the Stock Exchange of Thailand overseeing Corporate Strategy, International Relation, Research, and Sustainable Development.

        Prior to joining the Stock Exchange of Thailand, Dr. Soraphol was the Executive Director of Macroeconomic Policy Bureau at the Fiscal Policy Office, Ministry of Finance, where responsible for GDP forecasting and Big Data on low-income earners. He was also the Deputy Spokesperson at the Ministry of Finance. Dr. Soraphol received the Outstanding Civil Servant Award in 2013.

        Dr. Soraphol received his Ph.D. in Public Policy and Economics from the University of Michigan, Ann Arbor, USA. He has extensive experience in public, private, and academic sectors, having worked at Siam Commercial Bank; Department of Trade Negotiations, Ministry of Commerce; and Fiscal Policy Office, Ministry of Finance. He also teaches economics and finance part-time at Thammasat University and NIDA Business School.

      • Elina
        Elina Yrgård Associate Vice President, EU Affairs Nasdaq
      • Elina Yrgård

        Associate Vice President, EU Affairs Nasdaq

        Elina Yrgård is Associate Vice President, EU Affairs in Nasdaq’s Global Government Relations team, based in Brussels. She has worked at Nasdaq over 15 years and is an expert in European regulation, including with a special focus on the regulatory landscape on sustainability. 

        Elina is active in many industry associations at European and global level, including WFE and also FESE, where she Chairs the Equity Committee. She is engaged as a speaker in conferences and has represented Nasdaq in numerous consultative groups for public authorities and ministries, at EU level as well as in Sweden, on topics related to capital markets and the financial ecosystems broadly. Elina was also the first Chair of Nasdaq’s own Legal & Regulatory Group’s Innovation Committee.

        She holds a Master of Laws Degree and a degree in Business Administration from Stockholm University. 

    • 15:20 - 15:30

      Closing Remarks

      Speaker
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 36% are in Asia-Pacific, 43% in EMEA and 21% in the Americas. WFE exchanges are home to 55,000 listed companies, and the market capitalisation of these entities is over $111 trillion; around $124 trillion (EOB) in trading annually passes through WFE members (at end 2023). WFE’s 87 member CCPs and clearing services collectively ensure that risk takers post some $1.3 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.