Addressing climate change and reducing greenhouse gas (GHG) emissions have emerged as one of the major
issues of international cooperation and competition. This Report begins by detailing the rationale and importance
of establishing Greater Bay Area climate funds through a literature review. It then offers specific recommendations
to investors and policymakers for setting up climate funds in the Greater Bay Area by investigating the current
development status of domestic and overseas climate funds, as well as related funds in the Greater Bay Area.
The Report concludes by highlighting implications for the establishment of climate funds in the Greater Bay Area,
by evaluating the practical experience of the Chinese mainland in managing “Double Q” funds and Hong Kong in
managing private funds in areas such as regulatory requirements, foreign exchange, taxation, and market access.

The GBAGFA Climate Funds Working Group is led by the Green Finance Committee of Financial Society of Shenzhen Special Economic Zone, and under the collaboration of HKGFA, The Macau Association of Banks, and the Shenzhen Green Finance Association.

The full report will be available in Q3 2023.