The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) initiated the establishment of the Green and Sustainable Finance Cross-Agency Steering Group, together with the Environment Bureau, the Financial Services and the Treasury Bureau (FSTB), Hong Kong Exchanges and Clearing Limited (HKEX), the Insurance Authority and the Mandatory Provident Fund Schemes Authority (MPFA).
Sustainability plays a major role in the financial field nowadays.
The purpose of this Steering Committee is to coordinate the potential impacts of climate changes and related environmental risks by favoring the use of green and sustainable finance in Hong Kong.
The HK Government have set up some specific strategies in relation to climate changes, inter alia:
- Studying the regulatory issues in relation to the green finance issues, im particular this having an impact on several sectors of the economy
- Assisting political decisions to keep a suitable and effective strategy in favor of sustainable green finance
- Dealing with technical cross-sectorial issues
- Monitoring the international and regional green finance developments and adjust the HK strategies
- Identifying how HK may improve its strengths regionally and globally on this relevant topic
FundGlobam believe that ESG will be one of the key topics which importance will grow in the HK market due to this initiative. We keep a specific monitoring on any development in HK in this regard.
We will be happy to assist you should you require any further information.