Hong Kong, Hong Kong S.A.R. Apr 29, 2022 (Issuewire.com) - Mobilising green and sustainable finance in the Asia Pacific is critical to meeting the region’s energy transition and decarbonisation targets.
The European Chamber of Commerce in Hong Kong (EuroCham) has taken up the challenge with the creation of its Sustainable Finance Working Group, building on the momentum generated by the high-level forum “EU and Hong Kong: The Green Way” in September 2021. Senior representatives of EuroCham have selected Yasmine Djeddai, Head of Sustainable Finance for the Asia Pacific at Societe Generale, and Johannes Hack, Chief Executive of DZ Bank’s Hong Kong branch, as co-chairs of the new working group.
We took some time to discuss this with Kingfisher Investments Michael Coleman and get his views and opinions on the matter. His thoughts were as follows - ‘’The creation of the Sustainable Finance Working Group will allow regular dialogue with key stakeholders in Hong Kong on important ESG topics such as fostering the development of ESG talent in Hong Kong.’’ I would also add that other key priorities should include promoting compatible and as convergent as possible approaches with regard to taxonomies and disclosure standards, as well as global best practices in sustainable finance. ‘’
Hong Kong has launched various initiatives with the ambition of developing and consolidating its positioning as a leading hub for green and sustainable finance in Asia. The government has launched a HK$200 billion green bond program to fund its transition to a low carbon economy, including renewable energy and waste management projects. Hong Kong is also exploring to develop of a regional carbon trading market as well as a sustainable finance taxonomy leveraging on the cooperation between China and the EU on the Common Ground Taxonomy.
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