Asia Financial Forum “What’s Asia’s Role in Transition Financing Towards Net Zero”

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19 January 2021 – The Hong Kong Green Finance Association (HKGFA) and the Hong Kong Trade Development Council (HKTDC) co-organized the “What’s Asia’s Role in Transition Financing Towards Net Zero” virtual panel session on the 19th Jan 2021 at the 14th Asian Financial Forum (AFF) which was attended by over 1,000 representatives from business, finance, government, and civil society.

The Panel discussed the latest developments in Hong Kong in response to the carbon neutrality pledge by Asian countries in 2020, including the Strategic Plan by the Cross Agency Steering Group, the launch of STAGE; major breakthrough and opportunities for green and sustainable finance given more policy guidance and support are developed, as well as the expected development and transitions in the market.

Ms. Chaoni Huang, Vice President and Secretary General, Hong Kong Green Finance Association; Head of Sustainable Capital Markets, Global Markets APAC, BNP Paribas noted, “Climate change is a serious disruption with no vaccine, but financing decarbonization is a tremendous opportunity to reshape Asian’s economies towards a greener and more sustainable future.”

“Asian countries such as China, Japan and Korea announced carbon neutrality targets. These encouraging signs will boost demand for and supply of green finance greatly, introducing various opportunities for China. HKGFA has revamped our working group and will continue to mobilise more resources for the relevant sectors to develop an integrated carbon market for the Greater Bay Area,” Dr. Ma Jun, Chairman and President, Hong Kong Green Finance Association said in his speech.

Ms. Grace Hui, Head of Green and Sustainable Finance, Hong Kong Exchanges and Clearing Limited remarked, “With the launch of STAGE, we are seeking to support the growth of Asia’s sustainable finance market by increasing awareness, accessibility, data availability, and transparency of green and sustainable investment products. Ultimately, we aim to guide future capital flows to support our society’s transition towards sustainability. STAGE will connect market participants, issuers and investors, providing a one-stop shop for reliable green data and products.”

“As a proactive lead in ESG investing, we try to use our influence within our industry to advocate the issuance of green bonds and also establish transition bonds for companies who are working toward eco-friendly operations,” Mr. Jim Veneau, Head of Asian Fixed Income, AXA Investment Managers addressed.

Mr. Joseph Chan, JP, Under Secretary for Financial Services and the Treasury, The Government of the Hong Kong Special Administrative Region of the People’s Republic of China, “To elevate Hong Kong’s position as a regional green and sustainable finance hub, we will continue to facilitate and provide the necessary infrastructure and catalyst for promoting market development and encouraging more entities to make use of Hong Kong’s capital markets as well as financial and professional services for green and sustainable investment, financing and certification.”

“BOCHK will seize the opportunities arising from the growing green economy and low-carbon transition, and leverage on the power of financial institution to provide solid financial supports for the green transformation of the economy. We will capitalize on our cross-border competitive advantage to meet the financial needs across Hong Kong, the Greater Bay Area and the Belt and Road Initiative, facilitate a healthy balance in regional development and support our customers’ transition to low-carbon economy to jointly build a better society.” Ms. Lu Ying, General Manager, Global Corporate Banking Department, Bank of China (Hong Kong) Limited mentioned.

Watch Dr. Ma Jun’s speech

Dr. Ma Jun – Chairman and President, Hong Kong Green Finance Association giving a speech before the panel session.

(From left to right, top to bottom): Ms. Chaoni Huang – Vice President and Secretary General, Hong Kong Green Finance Association; Head of Sustainable Capital Markets, Global Markets APAC, BNP Paribas; Ms. Grace Hui – Head of Green and Sustainable Finance, Hong Kong Exchanges and Clearing Limited; Mr. Joseph Chan, JP – Under Secretary for Financial Services and the Treasury, The Government of the Hong Kong Special Administrative Region of the People’s Republic of China; Ms. Lu Ying – General Manager, Global Corporate Banking Department, Bank of China (Hong Kong) Limited; Mr. Jim Veneau – Head of Asian Fixed Income, AXA Investment Managers

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