Toronto Centre Podcasts

Latest Episodes:

Ep. 140 - Agricultural and Financial Systems’ Adaptation to Climate Change Feb 16, 2024

Show notes

Experts from the development and financial supervision sectors discussed some of the challenges and solutions for farmers from emerging markets and developing economies in accessing finance to adapt to climate change.

Key takeaways from this insightful conversation include the need to:

Build a common vision and establish a dialogue between supervisors and the market
Increase access to finance for small holder farmers through safe digital solutions
Implement gender-inclusive policies to address specific barriers women face

Toronto Centre and MEDA co-hosted this event as part of Global Affairs Canada's 2024 International Development Week.

Panelists:

Tomás Soley, Superintendent, General Superintendence of Insurance of Costa Rica (SUGESE)

Nadia Guerch, Senior Regional Director for Latin America, Eastern Europe and Asia Pacific, MEDA

Omoneka Oyier, Director, Business Value Creation, MEDA

Moderator:

Carl Hiralal, Insurance and Pensions Advisory Board, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 139 - The New ISSB Standards: Considerations for Financial Supervisors Jan 31, 2024

Show notes

The International Sustainability Standards Board (ISSB) has developed new standards for sustainability reporting and climate-related disclosure.

This new TC Note and accompanying podcast discuss the benefits, challenges, and actions needed for the standards to reach the goals they were set out to meet. They outline how the standards can help achieve the following key supervisory goals:

Investor and consumer protection
Safety and soundness of financial institutions
Financial system stability and alignment with national climate targets

Speaker:

Alison Harwood, Program Leader, Toronto Centre

Host:

Eric Pezet, Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 138 - Digital Financial Services for Financial Inclusion: Tools for Supervisors Jan 22, 2024

Show notes

In 2023, the Consultative Group to Assist the Poor (CGAP) released a technical guide on Digital Financial Services for Financial Inclusion: Tools for Supervisors.

This podcast highlights key takeaways from the guide, including:

How to improve supervisory data
An approach to designing supervisory framework
How artificial intelligence can improve or impair inclusion

Speakers:

Juan Carlos Izaguirre, Senior Financial Sector Specialist, CGAP

Mehmet Kerse, Senior Financial Sector Specialist, CGAP

Host:

Demet Çanakçı, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

https://www.cgap.org/

Ep. 137 - Supporting Net-Zero Transition Planning Dec 08, 2023

Show notes

To achieve net-zero, every economic sector will need to decarbonize, and financial institutions need to fund activities supporting this transition. Financial institutions and their customers will need to develop credible transition plans.

The panel discussed:

the common elements for transition plans;
the need for financial regulators to set supervisory expectations for transition plans; and,
how transition plans should be considered within the prudential framework.

Panelists:

Martin Moloney, Secretary General, International Organization of Securities Commissions

Irene Espinosa Cantellano, Deputy Governor, Banco de México

Michael Jantzi, Board Member, International Sustainability Standards Board

Thomas Beretti, Senior Advisor to the NGFS Secretariat; Head of Division, Climate Change Centre, Banque de France

Moderator:

Babak Abbaszadeh, President and CEO, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 136 - Blended Finance for Climate Adaptation: Implications for Supervisors Nov 23, 2023

Show notes

Emerging Markets and Developing Economies (EMDEs) are facing numerous hurdles in mobilizing the necessary transition financing for decarbonization, including fiscal constraints, restricted access to private capital, and a shortage of expertise in project development and financing. Ramping up blended finance efforts is critical for this transition.

The panel discussed:

some practical examples of successful blended finance transactions; and,
the role that financial regulators and supervisors can play in creating a conducive and stable environment for these transactions.

Panelists:

Laura Santa, Sustainable Finance Group Leader, Financial Superintendency of Colombia (SFC)

Andrew Ahiaku, Director and Head of Financial Sector, Aceli Africa

Alan Elizondo, General Director, Fideicomisos Instituidos en Relación con la Agricultura (FIRA)

Dr. Nnamdi Igbokwe, Director, Knowledge and Thought Leadership, Convergence Blended Finance

Moderator:

Demet Çanakçi, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Read our TC Note to learn more about blended finance: https://www.torontocentre.org/index.php?option=com_content&view=article&id=236&Itemid=99

https://www.convergence.finance/

Read more about barriers and recommendations for blended finance: https://www.convergence.finance/resource/state-of-blended-finance-2023/view

Ep. 135 - Risk-Based Supervision: Some Practical Implementation Issues Nov 17, 2023

Show notes

This TC Note and podcast address issues encountered by introducing risk-based supervision. These range from technical matters to more complex challenges, such as:

appropriate calibration of ratings;
risk-management controls;
managing on- and off-site work;
significant enterprise-wide activities;
treating ‘unsupervisable’ structures;
independent local boards; and
upstreaming of profits to parent institutions.

Speaker:

Paul Wright, Program Leader, Toronto Centre

Host:

Chuin Hwei Ng, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 134 - Supervising Inclusive Financial Sectors Nov 08, 2023

Show notes

This TC Note and podcast brings together principles and practices related to financial sector oversight that are relevant to financial inclusion, including proportionate regulation, risk-based supervision, and consumer empowerment. They emphasize the need to understand and manage linkages and trade-offs between different policy areas, and cover some cross-cutting issues that supervisors are facing, such as new innovations and sources of competition, gender disparities in financial inclusion, and the role of financial inclusion in crisis responses.

Speaker:

Laura Brix Newbury, Program Leader, Toronto Centre

Host:

Demet Çanakçı, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 133 - Integrating Climate Change Risk into Institutional Investing: From Rhetoric to Action Nov 03, 2023

Show notes

The Intact Centre for Climate Adaptation at the University of Waterloo recently released a report on Integrating Physical Climate Change and Extreme Weather Risk into Institutional Investing. The report examines the strategic and financial impact physical climate risks have on businesses.

In this podcast, the speakers address some topics financial supervisors and regulators should consider:

the impact of physical climate change and extreme weather risk on the financial sector;
the state of global disclosures and frameworks; and,
tools available to reduce risk.

Speaker:

Kathryn Bakos, Director, Climate Finance and Science, Intact Centre on Climate Adaptation, University of Waterloo

Host:

Shelina Visram, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 132 - Executive Panel Session: Digital Finance and Crypto Assets Oversight: Where Do We Stand? Oct 26, 2023

Show notes

Crypto regulation was a key agenda of the G20 summit. While regulations and a framework have yet to be finalized, consensus emerged that a blanket ban was not feasible.

The joint declaration noted that the G20 will continue to “closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem,” and the leaders endorsed the Financial Stability Board’s (FSB’s) “high-level recommendations for the regulation, supervision, and oversight of crypto-assets activities and markets and of global stablecoin arrangements.”

The panel discussed:

macro financial consequences,
regulatory aspects,
cross-border framework and cooperation; and
supervisory implications.

Panelists:

William C. Dudley, Chair, Bretton Woods Committee (BWC); Former President and CEO, Federal Reserve Bank of New York

Nezha Hayat, Chairperson and Chief Executive Officer, Moroccan Capital Market Authority (AMMC)

Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges Riksbank (Central Bank of Sweden)

Olivier Fines, Head, Advocacy and Capital Markets Policy Research for EMEA, CFA Institute

Moderator:

Marina Moretti, Deputy Director, Monetary and Capital Markets, International Monetary Fund (IMF)

Read the transcript here. Read their biographies here.

Ep. 131 - Executive Panel Session: Nature-Related Risks, Macroeconomic Impacts, and Transition Planning Oct 26, 2023

Show notes

Central banks and supervisors need to consider climate change and biodiversity loss, which are interconnected and mutually reinforcing. Looking ahead, dealing with nature-related risks may also involve transition plans. Transition plans are crucial to credible implementation.

The panel discussed:

how central banks and supervisors should adjust to better capture climate-related impacts;
the effects of tighter monetary policy on climate investments in industrialized economies and their implications for emerging markets and developing economies; and,
what transition plans should entail and the objectives they should serve.

Opening Remarks:

The Honourable Ahmed Hussen, Minister of International Development, Government of Canada

Panelists:

The Honourable John Rwangombwa, Governor, National Bank of Rwanda

Sabine Mauderer, Vice-Chair, Network for Greening the Financial System; Board Member, Deutsche Bundesbank

Jean-Paul Servais, Chair, IOSCO Board; Chair, Belgium's Financial Services and Markets Authority

Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges Riksbank (Central Bank of Sweden)

Moderator:

Jean Pesme, Global Director, Finance, Competitiveness & Innovation, World Bank

Read the transcript here. Read their biographies here.

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