HKGFA is committed to supporting and promoting the market development in the transition to net-zero.
Ms Jenny Lee, HKGFA Deputy Secretary General, spoke at the BEC EnviroSeries Conference on 23 November with fellow panel speakers on Financing Transition with Credible Frameworks and Instruments.
Highlights of the panel:
- Urgent action is needed across operation and supply chain to halve emissions by 2030.
- Sectoral decarbonisation is important as each sector has different needs, requirements and pathways.
- Huge need to enhance market availability and supply of low-carbon construction materials to tackle the issue of “embodied carbon” in the real estate sector.
- More alignment in the use of proceeds in structuring financial instruments can facilitate the development of transition finance.
- SMEs can leverage SME products, starter tools and guidance from banks to commence transition planning.
- Banks can co-create solutions with the market, including SMEs, in developing sustainability strategies, data monitoring and reporting. Making good use of technology is also an important element.
- Businesses should consider ESG performance as a whole to mitigate risk, leverage ratings and principles in the market, plan collectively with banks and other stakeholders, consider from the perspective of generating ESG impact instead of numbers only and contribute in nurturing ESG talents.
HKGFA through our Working Groups and industry experts, work closely with our strong network of members to encourage collective action and best practices.