On the afternoon of September 14, 2026, in Ha Long Ward, Quang Ninh City, the 11th Meeting of the Senior Level Committee Task Force on Sustainable Finance (SLC-TF), co-chaired by the State Bank of Vietnam (SBV) and Bank Indonesia, was held as part of the activities of the 32nd Meeting of the ASEAN Senior Level Committee on Financial Integration (SLC).
The meeting focused on reviewing progress in the implementation of ASEAN sustainable finance initiatives and discussing arrangements for the transition of ongoing cooperation activities in the context of ASEAN’s preparations for the implementation of a new financial cooperation structure.
The meeting was attended by representatives from ASEAN central banks, the ASEAN Secretariat, and relevant stakeholders involved in the implementation of sustainable finance initiatives across the region.
Further advancing ASEAN sustainable finance initiatives
At the meeting, participants provided updates and exchanged views on a number of key initiatives under the ASEAN sustainable finance agenda.
Ms. Merywati (left), Head of the Macroprudential Policy Department of Bank Indonesia, and Ms. Dao Thuy Hang (right), Deputy Director General of the International Cooperation Department of the SBV, co-chair the meeting.
One of the key topics discussed was the Common Ground Framework for Climate Risk Stress Testing (CRST) in ASEAN. The development of a common framework provides a basis for information sharing and enhanced coordination among ASEAN members in assessing and addressing the impacts of climate-related risks on the financial sector.
As climate change is increasingly becoming a factor that needs to be taken into account in the operation and stability of the financial system, this initiative demonstrates that ASEAN financial cooperation is gradually expanding beyond traditional financial integration issues to address emerging and long-term challenges.
The meeting also provided updates on the implementation of the ASEAN Taxonomy for Sustainable Finance, which remains one of the key initiatives under the region's sustainable finance agenda and continues to be monitored and promoted by the SLC-TF.
Participants further reviewed the overall progress of the SLC-TF and the report to be submitted to the 32nd SLC Meeting. This process enabled members not only to assess the results achieved but also to identify areas requiring further implementation and follow-up in the next period.
Ensuring continuity during the transition to the new cooperation mechanism
A key focus of the meeting was the future of sustainable finance initiatives following the conclusion of the SLC-TF's activities under the current ASEAN financial cooperation structure.
Overview of the meeting
Participants discussed arrangements for continuing the implementation of activities and initiatives currently undertaken by the SLC-TF, with a view to ensuring continuity, preserving the outcomes achieved, and avoiding disruption to the ASEAN sustainable finance agenda during the structural transition.
This work is closely linked to Project Revive, an initiative to reform the ASEAN financial cooperation mechanism.
According to the direction reported to the SLC, the new structure aims to streamline and enhance the effectiveness of ASEAN financial and banking cooperation mechanisms, reduce overlaps, strengthen coordination, and focus resources on priority areas.
For sustainable finance, the transition is particularly significant as many initiatives are long-term in nature and require continued coordination among ASEAN members. Maintaining the results achieved to date, while establishing clear arrangements for continued implementation after the SLC-TF completes its role under the current structure, is therefore an important issue addressed at the meeting.
Building on cooperation outcomes during the co-chairmanship term
During the 2024-2026 co-chairmanship term, sustainable finance was one of the areas promoted under the ASEAN financial and banking cooperation agenda.
Therefore, the review of progress in sustainable finance initiatives at this meeting not only supported the preparation of the report for the 32nd SLC Meeting but also provided a basis for members to identify ways to carry forward and further promote the cooperation outcomes achieved during the co-chairmanship term as ASEAN transitions to the new cooperation structure.
Participants pose for a group photo at the meeting.
By continuing to advance joint initiatives on climate-related risks and sustainable finance, while strengthening coordination among members, ASEAN aims to enhance the resilience and adaptability of the regional financial sector in responding to emerging challenges and ensure the seamless continuation of sustainable finance objectives in the next period of cooperation.