A growing awareness of climate risk has galvanised governments and regulators to take action in recent years. This has been accompanied by a rise in stakeholder capitalism, which is backed by more and more top CEOs, who are re-orientating the purpose of their companies to include benefiting all stakeholders – customers, employees, suppliers, communities and shareholders, through the pursuit of such objectives as sustainability. The rise of activist investors has also contributed to a sea change in businesses’ attitudes to climate change.
As a result, ESG investing, which was once a marginal activity in the financial world, is increasingly taking centre stage. According to UBS, assets in ESG Funds soared to US$1 trillion last year. This is because such funds often offer higher returns but at lower volatility. All of these developments have made it possible to align value with values, whereby capital is deployed to improve efficiency in resource allocation, lower emissions, and the creation of sustainable products and services, while being rewarded for doing so.
Against such a backdrop, Hong Kong has set up a Green and Sustainable Finance Cross-Agency Steering Group (“Steering Group”) in 2020 to promote and accelerate the growth of green and sustainable finance, as well as to coordinate the management of climate and environmental risks in the financial sector. The Steering Group is co-chaired by Hong Kong Monetary Authority (“HKMA”) and Securities and Futures Commission (“SFC”).
At this half-day webinar on 12 May 2021 (Wed) 9 am – 11:30 (GMT+8), organized by Hong Kong General Chamber of Commerce (HKGCC), HKGCC has invited HKMA Chief Executive Mr Eddie Yue and SFC Chief Executive Officer Mr Ashley Alder to speak respectively on developing Hong Kong into a green and sustainable finance hub and the importance of climate change to Hong Kong’s future as a global finance centre.
The webinar also comprises two panel discussions during which our distinguished line-up of panellists comprising the following will discuss on opportunities and challenges arising from the sustainable finance market, as well as offer insights to investors’ perspectives on sustainable investment. Hong Kong Green Finance Association is happy to support the event. Our Green and Sustainable Insurance Working Group Co-chair, Mr. Dylan Bryant, would participate in the panel discussions to share his view on the green and sustainable finance developments in Hong Kong.
For any further enquirires, please contact Ms. Karen Au