HKGFA Co-hosted GFANZ event with AoF and HKUST


On 28 June 2023, the HKGFA co-hosted Ben Weisman, Director of Global Public Policy of Glasgow Financial Alliance for Net Zero (GFANZ) with Hong Kong Academy of Finance (AoF) and The Hong Kong University of Science and Technology to provide an update on the latest work of GFANZ in transition planning and finance as well as voluntary global standards for carbon markets. We are also thankful for the support of Climate Bonds Initiative and CDP.

Watch the event replay available on HKGFA Youtube Channel:


This is the first event organised by HKGFA’s Banking Working Group – Transition Planning workstream, and we are excited to see a full house of over 80 active industry participants from the banking and asset management sectors as well as academia.

Ms. Christine Loh chaired a fruitful panel discussion featuring Ben, our Transition Planning workstream leader Ms. Ivy Lau from Mizuho, Ms. Grace Hui from HKUST, and Mr. Jean Eric Salata from BPEA EQT.

Key points mentioned:

  • An important focus of GFANZ is on policies needed to drive transition planning and resources that help with implementation. A pan-sector framework for financial institution transition planning has been released to support actionable strategies and measurable progress to meet netzero commitments.
  • A high degree of transparency should be the key for us to accelerate credible transition.
  • Corporates are encouraged to start making a robust plan of decarbonisation by taking advantage of the resources available in the market with guidance on how to define ambition and set science-based targets with timeline. Tax incentives can also be a driver.
  • While public-private partnership is crucial, financial institutions can also help bridge the gap between policy from regulators and action from corporates. Asset owners and venture capitalists are also playing a mobilising role in transition economy and green tech development with their investment strategies.

HKGFA’s five newly restructured working groups and workstreams will continue to drive focused initiatives and knowledge exchange which are of great interest to our members.


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