HKs Strengths Highlighted To Japan

Secretary for Financial Services & the Treasury Christopher Hui promoted Hong Kong's strengths as a leading green finance hub in the region to the Japanese business community during a webinar today.

He addressed about 240 business leaders and executives from Japan and Hong Kong, highlighting how Japanese businesses can benefit when tapping into Hong Kong's financial market, in particular the areas of green and sustainable finance.

Mr Hui noted that the National 14th Five-Year Plan endeavours to achieve carbon neutrality before 2060, while in Hong Kong, the Chief Executive announced in the 2020 Policy Address that the Hong Kong Special Administrative Region would strive to achieve carbon neutrality before 2050.

He said: "With a view to contributing to the achievement of the aforesaid goals, Hong Kong is enhancing our efforts to promote market development, align Hong Kong’s regulatory standards with international best practices and capitalise on the enormous green finance opportunities presented by the Guangdong-Hong Kong-Macao Greater Bay Area development and the Belt & Road Initiative."

Giving a market overview of Hong Kong, Mr Hui highlighted that in 2020, US$12 billion worth of green debt was arranged and issued in Hong Kong, with a cumulative green debt issuance amounting to over US$38 billion by the end of 2020. Under the Government Green Bond Programme, two issuances raised US$3.5 billion.

He added that the Hong Kong SAR Government would issue green bonds totalling HK$175.5 billion within the next five years having regard to the market situation.

Looking ahead, Mr Hui said the Chief Executive announced in the 2021 Policy Address the inclusion of professionals in environmental, social and governance (ESG) in the Talent List of Hong Kong.

He pointed out that having such professionals is important globally for a greener and more sustainable future, and he welcomed collaboration with partners like Japan for the growth of the talent base of ESG professionals.

The webinar was organised by the Hong Kong Economic & Trade Office in Tokyo and co-organised by Invest Hong Kong.