With guests Dr. Inna Amesheva (ESG Book) and Janet Ledger (Commuity Business)

In time for International Women’s Day on March 8th, Dr. Inna Amesheva and Janet Ledger explore the evolving role of ESG in regulation and inclusion. Dr. Amesheva, Head of ESG Regulatory Solutions at ESG Book, examines Europe’s push to simplify ESG rules, while Janet Ledger, CEO of Community Business, highlights how ESG drives diversity, equity, and inclusion (DEI) despite growing political backlash.

As companies navigate complex ESG regulations and rising calls for transparency, this episode examines the balance between reducing compliance burdens and maintaining sustainability standards.

The Omnibus Proposal: Simplifying ESG or Scaling Back Standards?

Dr. Inna Amesheva deep dives into the EU Omnibus Proposal, an initiative aiming to streamline ESG compliance by consolidating frameworks like the EU Taxonomy and CSRD. The proposal could reduce corporate reporting burdens by 33%, but critics argue it may weaken sustainability standards.

What’s driving this shift? Political and economic factors, including macroeconomic pressures and the impact of recent U.S. elections, are influencing the European Commission’s stance on ESG.

The discussion also touches on making some ESG metrics voluntary—a move that could ease compliance but raise transparency concerns. Additionally, changes to the Green Asset Ratio (GAR) could allow banks to use estimation models for non-European companies, potentially improving global ESG alignment but also sparking debate over data reliability and consistency.

ESG as a Driver for DEI

Shifting to ESG’s role in workplace inclusion, Janet Ledger shares her journey from working-class Australia to leadership in Hong Kong, emphasizing the strong link between ESG and DEI.

She explains how the social and governance pillars of ESG—covering workforce diversity, human rights, and board transparency—directly support DEI objectives. Companies that integrate both ESG and DEI tend to see stronger reputations, better talent retention, and competitive advantages.

Examples like mandated pay equity reporting in Australia and board diversity requirements illustrate how ESG frameworks can drive meaningful change. However, Janet warns against box-ticking approaches, stressing that genuine commitment and measurable action are key.

Navigating Backlash and Staying the Course

With ESG and DEI facing increasing political scrutiny, some critics dismiss them as “woke capitalism.” Despite this, younger employees and investors prioritize ESG-driven companies, seeing them as essential for long-term success.

Janet underscores the need for fact-based, rational communication to counter misinformation. She encourages businesses to stay the course, emphasizing that ethical business practices benefit all—driving performance, innovation, and societal progress.

The Regulatory Ramblings podcast is brought to you by The University of Hong Kong's Reg/Tech Lab (Building Better Financial Systems), HKU-SCF FinTech Academy, Asia Global Institute, and HKU-edX Professional Certificate in FinTech, with support from HKU Law. The program is led by Douglas Arner and hosted by Ajay Shamdasani. For more details and links, please visit: www.hkufintech.com/regulatoryramblings

HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

With guests Raoul Montgomery, Kirsty Crean, and Brian Cheung

As the theme of this episode is compliance, we first hear from Raoul Montgomery and Kirsty Crean of executive search and recruitment firm Arion House in Hong Kong about hiring trends in the legal and compliance space post-Chinese New Year.

Hiring in Compliance & Legal: What’s Driving the Surge in 2025? Raoul & Kirsty share the areas in which the financial sector is hiring – with insurance and crypto-compliance being key drivers for of employment.

Kirsty and Raoul also share their thoughts on the degree to which firms are hiring legal and compliance staff at more senior levels versus more middle to junior ranks. Indications are that some banking and financial institutions and multinational corporations more broadly are moving more towards retainment mode. That is evidenced by the hiring freezes at some banks in the region.

The conversation concludes with what it takes to be a good compliance officer – beyond just knowing the rules, regulations and general knowledge of the sector one seeks employment in. As our guests make clear that while a legal or accounting degree and/or experience will always put one in good stead, in-house/general counsel and compliance officers need soft skills, too.

Inside Compliance: Balancing Risk, Regulation & Work-Life. Our discussion with Brian Yeung of Interactive Brokers delves into why he pursued a law degree. He also describes how he saw himself making a difference by becoming a compliance officer which, he recalls, occurred against the backdrop of the 2001 Enron scandal leading to the collapse of venerable accounting giant Arthur Anderson, the passage of the Sarbanes-Oxley Act (2002) in the US – which forever put a global spotlight on the importance of good corporate governance and the compliance profession writ large.

It is a profession that Brian took well to; one he still finds years later to be incredibly stimulating and rewarding. As he avers “There is no typical day for me.”

While sharing what his biggest challenges are, Brian stresses the importance of work life balance and considers himself profoundly blessed to usually be able to leave at a reasonable hour each day to spend time with his family after a long day at the office. He contrasts that with the life he might have had as a solicitor in private practice where the perpetual dread to rack up enough bllliable hours annually would likely have impacted his family life, notwithstanding the potentially higher rewards and prestige.

While acknowledging that the compliance has long been associated with the legal and accounting professions, he does not believe one necessarily needs to complete a degree in either of those subjects to have a successful compliance career, what that although a law degree can be useful, an investigative mind is also a valuable asset to those considering entering the field.

The Regulatory Ramblings podcast is brought to you by The University of Hong Kong's Reg/Tech Lab (Building Better Financial Systems), HKU-SCF FinTech Academy, Asia Global Institute, and HKU-edX Professional Certificate in FinTech, with support from HKU Law. The program is led by Douglas Arner and hosted by Ajay Shamdasani. For more details and links, please visit: www.hkufintech.com/regulatoryramblings

HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.

With guests Dr. Oriol Caudevilla and Skip Schiphorst

The Green Belt and Road Initiative. Much has been said about the BRI, known in China as the One Belt One Road – and sometimes labelled the New Silk Road. A global infrastructure development strategy adopted by the Chinese government in 2013 to invest in more than 150 countries and international organizations, the scheme is composed of six urban development land corridors linked by road, rail, energy, and digital infrastructure, and the Maritime Silk Road linked by the development of ports.

The idea was simple enough, transport raw materials to China while carrying its manufactured wares to participating nations.

Dr. Oriol Caudevilla is a highly regarded voice on all things fintech. He fleshes out what he means by the “Green BRI” because on the surface, the concept seems almost seems counter intuitive as vast amounts of carbon/energy are expended to carry resources towards China and goods from it. As he points out, there are there green efficiencies and other benefits to be had from the BRI that will meaningfully impact the planet's climate.

Open-Source Intelligence (OSINT) and Non-English Language Online Research. Skip Schiphorst is course coordinator and an instructor for the Swiss-based firm I-Intelligence’s Arabic, Russian and Chinese open-source intelligence courses. He shares the importance of being able to search for OSINT in languages other than English and how it has a direct application to lawyers, compliance officers and investigators in regional hubs like Hong Kong and Singapore – and the banking and financial institutions and multinational corporations they serve. As he emphasizes, it is often easier to navigate the internet in Chinese than English due to simplicity in structure of the former language.

Skip describes what it was like to grow up in Switzerland as a young man of Dutch ancestry, his decision to join the Marines in 1997 and how his views on the world and the degree to which outside powers can use military force to change cultures and nations changed over the course of his service. He believes this to be the Asian century as many Western nations pursue more nativist and isolationist policies.

He also talks about the value of OSINT and multi-lingual research for due diligence in a mergers and acquisitions context, as well as for know-your-customer searches in anti-money laundering, terrorist financing and sanctions compliance for banks.

The Regulatory Ramblings podcast is brought to you by The University of Hong Kong's Reg/Tech Lab (Building Better Financial Systems), HKU-SCF FinTech Academy, Asia Global Institute, and HKU-edX Professional Certificate in FinTech, with support from HKU Law. The program is led by Douglas Arner and hosted by Ajay Shamdasani. For more details and links, please visit: www.hkufintech.com/regulatoryramblings

HKU FinTech is the leading fintech research and education in Asia. Learn more at www.hkufintech.com.