The Financial sector conference (FSC) today concluded its first focused event of the "Financial Sector Conference Talks", organized by the Financial Sector Development Program's partners (Finance Ministry – Saudi Central bank) and held at Rafal tower in Riyadh. The opening speech of the event was delivered by Dr. Fahad Al-Mubarak, Governor of the Saudi Central Bank, where he shed lights on Growing Global Trend in Sustainability and Climate Change. The first panel of the event discussed "KSA ESG Ecosystem: Opportunities and Challenges". The panel was attended by Mohammed El-Kuwai, Chairman of Capital Market Authority (CMA), Hani Almediani, Acting CEO of NDMC, and Eng. Fahad Al-Ajlan President of KAPSARC. The second panel entitled "ESG Capital Markets: The New Investment Landscape", was moderated by Jean Mercer, Vice-Chairman, Capital Markets, HSBC. The panel hosted the following speakers: Timothée Jaulin, Head of ESG Development Advocacy, Amundi Asset Management, Polina Kurdyavko, Bluebay Asset Management, Partner - EM Senior Sovereign PM, Manish Manchandya, Group CFO, Saudi Electricity Company (SEC), and Paddy Padmanathan, President and CEO ACWA Power. On behalf of the Minister of Finance, the ceremony was concluded by Abdulaziz Alrasheed, Assistant Minister of Finance for Macro-Fiscal International Relations, Chairman of Supervisory Committee of Financial Sector Conference, as he highlighted the kingdom's efforts towards sustainability. This event is the first talk of an introductory series for the second edition of FSC set to be held in the first quarter of 2022, aimed to discuss the growing role of ESG and the overall efforts to fill the financing gaps, achieve sustainable financing aligned with the UN sustainability objectives, and direct the financial institutions to make value in the long run with ESG instruments; to reach sustainable capitalistic markets and increase the sustainable financing scope. The event brought together entrepreneurs to communicate and exchange ideas and experiences, to discuss the investment opportunities in developing the Saudi finance sector, especially, that it attracts local, regional and international entrepreneurs, representatives of public and private sectors, including high-profile international consultations and financial institutions, credit agencies, and experts in financing, investment, banks and insurance. It is worth mentioning, that the second edition of the Financial Sector Conference has sought, since its launch in 2019, to achieve interdependence integration within the financial sector ecosystem through its various tools and means. In addition, it aspired to achieve sustainable growth within a resilient financial stability framework, while employing innovative tools for the development and management of services. This conference is one of the Financial Sector Development Program's initiatives, launched by the Council of Economic and Development Affairs as one of Vision 2030 programs, which aims to realize Saudi Vision 2030 objectives, through creating a diversified and effective financial sector that supports the development of the national economy.
