Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
Asia emerges as global leader as West backpedals, says sustainability expert
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By Lee Yeon-woo
Nana Li, head of Asia-Pacific sustainability and stewardship at Impax Asset Management
HONG KONG — Asia is steadily advancing to the forefront of sustainability discussions and, if this momentum continues, is poised to emerge as a global leader in sustainability, said Nana Li, head of Asia-Pacific sustainability and stewardship at Impax Asset Management.
The U.S. and E.U., which once led the sustainability push, are now backpedaling, weighed down by the aftermath of the Russia-Ukraine war and ongoing geopolitical tensions in the Middle East. Facing greater economic disruption than Asia, they are shifting their focus away from sustainability, according to Li.
"There's been a very strong pushback from corporates. The past 12 months have almost felt like backpedaling," Li told The Korea Times in a recent interview.
However, political endorsement from Asian governments has remained consistent, including in China, Japan, Korea, India and Indonesia, she added.
With 15 years of experience, Li leads Impax's sustainability research, stewardship strategy and policy advocacy across the Asia-Pacific region, coordinating engagement with portfolio companies and regulators. Prior to joining Impax in 2022, she served as a research and project director at the Asian Corporate Governance Association.
Having observed the Korean market for years, Li noted that the country is beginning to take more consistent steps to address the so-called "Korea discount" — the persistent undervaluation of its stock market driven by corporate governance concerns. She recently visited Korea last week, when she attended the ICGN Korea Conference 2026 hosted by the International Corporate Governance Network and the Korea Exchange.
"Regulatory structure is not that complicated (in Korea). However, they keep reshuffling. As an outsider, it was very difficult for us to keep track of who we should talk to, who was responsible for each issue, and so on," Li said, referring to the situation prior to recent changes. "These two years have been very good."
She emphasized that it is important for global investors to recognize Asia's diversity in terms of culture, language and systems.
Hoping to help companies seeking to enter the Asian market, Li authored a book titled "Navigating Sustainability in Asia: A Practical Guide for Leaders and Investors," which was launched last week.
"Asia is still quite mysterious to many ... I hope this can serve as a guide for executives, companies, and investors looking to make their first move into Asia," Li said, adding that all royalties from the book will be donated to support the victims of the 2025 Tai Po fire in Hong Kong.