The Greater Bay Area cities, including Hong Kong, Shenzhen and Guangzhou, are accelerating efforts to drive sustainable finance development to help finance the carbon-reduction goals of China. Check out the main action items and areas of improvement for optimizing their local green finance ecosystem in the article link below.

Recap on HK focus as mentioned by Mr. Christopher Hui Ching-yu, the HKSAR Secretary for Financial Services and the Treasury below.

1. HK aims to expand the issuance of government green bonds more than five times within the next five years, compared with the amounts before 2021.

2. HK is launching a three-year programme this year to provide financial professionals with training on green and sustainable finance, with HK$200 million in funds contributing to the effort.

3. HK is exploring to create related standards that are applicable to Hong Kong to facilitate the regional transformation into a low-carbon economy and aim to develop Hong Kong into a leading international carbon-trading centre.

Source: South China Morning Post