The Asian Financial Forum (AFF) witnessed more than 66,700 viewers from 80 countries and regions on its online platform, featuring 60 speeches and panel discussions, as well as a virtual exhibition showcasing cutting edge fintech innovations and solutions with the theme “Navigating the Next Normal towards a Sustainable Future”.

Heavyweight speakers share views on a range of topics

Several keynote speeches were featured at the AFF 2022, including an address by Mark Carney, United Nations Special Envoy on Climate Action and Finance.

Carney shared his insights on how to build a sustainable financial system as a way of mitigating the liability and transitional threats posed by climate change.

He said that governments need to step up with “ambitious, credible and predictable” policies that match their pledges.

“Very importantly, countries are encouraged to enact ‘deep decarbonisation’ policies such as the phase-out of internal combustion engine vehicles by 2030 and legislate carbon pricing to deliver certainty. This is about giving greater certainty to investors and businesses, so they can pull forward with investment, smooth adjustments and drive jobs and growth upwards while they force emissions downwards.

 

Finance is stepping up, the system is being changed, and there are enormous opportunities now for countries and companies, from affordable green power to zero-emission steel to low-carbon hydrogen and beyond. The financial sector has moved from being a mirror that reflects a world that hasn’t been doing nearly enough to becoming a window through which ambitious climate action can deliver a sustainable future.”

Another distinguished keynote speaker was Jean-Claude Trichet, Former President of the European Central Bank.

He noted that the financial industry, regulators and policymakers should step up their concerted efforts when it comes to addressing key issues related to monetary stability in times of uncertainty.

“[Macroprudential regulations] are more important than ever. We have to be very careful with regard to these buffers, countercyclical buffers, the systemic risk buffers, et cetera. We have to be very attentive to the loan-to-deposit ratio, to all these kinds of macroprudentials that are of extraordinary importance.

 

It’s clear that the advanced economies have to be particularly cautious today and particularly attentive to their risks. Because if all that turns out to be a hard landing, every country in the world will pay a very high price for that. And, as always, the least developed, the poorest, the developing economies – they will have the most difficulty,”

said Trichet.

Addressing the outlook for cryptocurrencies and blockchain, Sam Bankman-Fried, Founder and CEO of cryptocurrency exchange FTX.com, said,

“One of the big goals of crypto is to be able to build an ecosystem where there is financial inclusiveness, where anyone can get equitable access to the financial markets. When you look at traditional markets, you just don’t see that ease of access.

 

For some reason in crypto, the exchanges seem to play a very central role, whereas in the rest of the financial ecosystem they played a relevant role but a less central one. That is one big thing that really changes people’s minds on ecosystems as they walk through it.”

Bestselling author and Founder and Executive Chairman of Moven Brett King, offered his perspectives on how the emergence of innovative fintech solutions presents both an opportunity and a challenge to the banking and financial industries.

“The first use of central bank digital currencies (CBDCs) en masse will probably be the Beijing Winter Olympics this year, where we see the CBDCs incorporated into the mobile wallet for the games. This is the first major evolution of money that we have seen since we moved from coins to paper banknotes.

 

In a historical perspective, what we see right now with the creation of CBDCs and cryptocurrencies is an incredible point of change for humanity with respect to the design and intelligence of money,”

King said.

AFF online platform runs to mid-March, showcasing technologies from 130+ exhibitors

Video playback of the sessions are available through the event’s online platform until 11 March 2022.

There will also be round-the-clock access to 60 keynote speeches and panel discussions as well the exhibitions of more than 130 local and international financial institutions, tech companies, startups and investment agencies, showcasing a plethora of advanced financial technologies and unmissable investment opportunities.

Viewers can access AFF’s online platform here.