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image: (from left to right) Associate Professor Cindy Deng Xin, NTU NBS; Mr David Day, London Stock Exchange Group; Professor Simba Chang Xin, Associate Dean (Research), NTU NBS; Mr Tan Chuan-Jin, Speaker of the Parliament of Singapore; and Professor Christina Soh, Dean, NTU NBS and NTU Vice President (Strategy & Leadership Development) at the launch of NTU’s Centre for Sustainable Finance Innovation at the NTU@one-north campus.
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Credit: Credit to NTU Singapore
Nanyang Technological University, Singapore’s (NTU Singapore) Nanyang Business School (NBS) has launched a new centre to promote academic research into sustainable finance and financial innovation, as climate change and the rapid pace of technology bring about new challenges for businesses and financial institutions.
The Centre for Sustainable Finance Innovation (CSFI) will conduct academic and research activities to develop solutions to real-world problems in sustainability and technology, the two fundamental driving forces shaping the future of financial services. As such, the Centre aims to lead cutting-edge research in these twin drivers of the future to build a robust talent pool in support of developing sustainable finance and Fintech in Singapore.
The centre will examine how climate change and environmental challenges have led companies to transition to sustainable growth, and the changing capital and investment that come with these fundamental changes to the industry.
It will also explore how the financial innovation created by technological development can be done in a prudent and sustainable manner, as new financial products, services, or technologies that raise the productivity of the financial sector might also test a financial system’s vulnerabilities and resilience.
The CSFI was launched today at the NBS Knowledge Lab Dean’s Distinguished Speaker Series held at the NTU@one-north campus, which featured guest speaker Mr Tan Chuan-Jin, Speaker of the Parliament of Singapore. In a session moderated by NBS Dean, Professor Christina Soh, Mr Tan discussed how stewardship, strategic planning, and sustainability are critical to both an organisation’s and country’s long-term success.
Professor Soh, who is also NTU Vice President (Strategy & Leadership Development), said: “Singapore has always been at the forefront of innovation, and the launch of the Centre for Sustainable Finance Innovation signifies NTU’s commitment to shaping the future of finance. At Nanyang Business School, we believe that sustainable innovation is not only the key to addressing global challenges but also an important driver of economic growth and development. Through CSFI, we aim to leverage our expertise in finance, innovation, and sustainability to drive positive change, and create a better world.”
CSFI will be co-directed by Associate Dean (Research) of NBS, Professor Simba Chang Xin and Associate Professor Cindy Deng Xin. By adopting a scientist-practitioner model, the centre’s researchers will tackle world-scale challenges, advance business theories, and enhance management practice.
Professor Chang said: “The Centre for Sustainable Finance Innovation is anchored by the three key pillars of Research, Practice, and Education. They reinforce one another and create synergy so that financial research and innovations do not just remain in the theory stage but reach the finance institutions where they can make the most impact in the real world.”
The centre’s research areas include ESG (Environmental, Social and Governance) and Sustainable Finance, Financial Innovation and Fintech, Corporate Finance, and Asset Pricing, along with cross-disciplinary research in fields such as finance, risk management, and digital transformation. It aims to forge a strategic alliance among academia, policymakers, and finance practitioners through research, practice, and education.
Research projects currently underway at CSFI include an analysis of carbon tax and emissions trading system; studying how countries with advanced Fintech development faced a faster rebound in GDP growth rate and more robust employment recovery during the pandemic; and investigating the causal effect of credit access on firm volatility.
The centre will work closely with industry partners, such as the London Stock Exchange Group (LSEG).
Helena Fung, Head of Sustainable Finance and Investment, APAC, LSEG, said: “Academic institutions play a pivotal role from a research and discovery perspective in driving the innovation needed for a sustainable future. The collaboration with the Centre for Sustainable Finance, alongside our strong data capabilities and suite of sustainability-related propositions, can go a long way towards supporting the faculty in the research and tools that would help shape the development of innovative solutions within the financial services industry.”
NBS and Boston Consulting Group launch new sustainability programme
In addition to the launch of CSFI, NTU will introduce a new sustainability programme for senior executives. It will collaborate with Boston Consulting Group (BCG) on a programme to educate BCG’s partners and senior consultants across Asia Pacific on sustainability and climate-related issues.
Designed and delivered by NBS, the three-month-long Climate & Sustainability Stewardship Programme is BCG’s first regional offering in Asia Pacific. It aims to be an influential platform for BCG and NTU to guide sustainability practices and transition in the broader business community.
Marko Lackovic, Managing Director and Partner, Boston Consulting Group, said: “We are proud to be partnering with Nanyang Technological University, one of the world’s most renowned institutions and home to several leading research centres in climate and sustainability.”
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