Green & Sustainable Finance Opportunities 2020 (Hong Kong)

Green & Sustainable Finance Opportunities 2020 (Hong Kong)

The Hong Kong Green Finance Association and the Hong Kong Trade Development Council jointly held a symposium on "Development Opportunities for Green Finance and Sustainable Investment 2020" at the Asian Financial Forum on 14 January 2020, attracting more than 400 business and financial participants from across Asia industry leaders, policy makers, investors and entrepreneurs. GZCP, Global Zero Carbon Partnership have participated the event organization efforts as a production partner.

This seminar discussed the prospects and opportunities of green finance development in 2020, including: the Greater Bay Area Green Finance Alliance organized by Hong Kong, Guangdong, Shenzhen and Macau, the investment potential of green buildings and the blue ocean economy, how commercial banks can take effective measures Measures to fill the huge green financing gap, the latest policies of the Hong Kong government on green finance and Hong Kong's role and positioning in green finance and sustainability.

Dr. Ma Jun, Chairman and President of the Hong Kong Green Finance Association, said that in the preparatory meeting of the Greater Bay Area Green Finance Alliance (Alliance), which was just successfully held in Shenzhen, the Alliance proposed five green finance projects - green building, blockchain photovoltaics, Carbon trading, solid waste management and green production chains provide new directions for sustainable investment in the Greater Bay Area. In addition, he mentioned a series of achievements and prospects related to green finance, including: so far, 35 financial institutions from 16 different countries have signed the Green Investment Principles, and the Hong Kong Green Finance Association, the Green Investment Principles and the Hong Kong Trade Development Council have jointly signed " The memorandum of cooperation on the “Belt and Road” green project library, and the launch of the China-EU green bond standard harmonization cooperation in the future, will bring unlimited opportunities for the regional and global development of green finance.

Mr. Pan Weike, Director of East Asia and Pacific Region of the International Finance Corporation, pointed out that by 2030, in emerging markets alone, green buildings will provide investment opportunities of 24.7 trillion US dollars, and in the Asia-Pacific region alone, green building investment opportunities will reach 17.8 trillion US dollars. With this in mind, investing in green buildings will stimulate economic growth and accelerate sustainable development.

In the next fifteen years, we need to invest at least US$100 trillion to support the global transition to low carbon economy. Given the huge demand for a low-carbon economy, investors and asset managers have reached a consensus on the urgency of addressing climate change and its crisis, and they will focus on how companies can deal with ESG-related risks when investing.

Mr. Chan Ho Lian, Deputy Director of the Finance and Services Bureau of the Hong Kong Special Administrative Region Government, said that the Hong Kong Special Administrative Region Government has become the first unit in Asia to sign the Green Bond Declaration. This action demonstrates Hong Kong's commitment to integrating a low-carbon economy and sustainable investment into policy planning and deployment.

(From left) Wong Cui Chi - Deputy Secretary General of the Hong Kong Green Finance Association; Ma Jun - Chairman of the Belt and Road Green Investment Principles, Chairman and President of the Hong Kong Green Finance Association; Vice President of Bureau; Hannah Routh- Vice President of Hong Kong Green Finance Association

The Hong Kong Green Finance Association, the Hong Kong Trade Development Council and the Belt and Road Green Investment Principles Secretariat signed a memorandum of cooperation after the seminar to promote the exchange of information on green investment projects.

Under the framework of the memorandum, the Hong Kong Green Finance Association will promote the project database of the Hong Kong Trade Development Council and the Green Investment Principles of the Belt and Road to members, and further strengthen the cooperation opportunities between members and investors in green construction projects of the Belt and Road.