On 8 July 2020, the Financial Services Development Council (FSDC) issued the report of “Hong Kong – Developing into the Global ESG Investment Hub of Asia”. The report accentuates the importance and increasing focus on Environmental, Social, and Governance (ESG) in supporting Hong Kong as an International Financial Centre. Following up from the 2018 report of “ESG Strategy for Hong Kong”, this report evaluates the effectiveness of various actions taken, marking the increasing collaborations from various stakeholders including the regulators, investors, and corporates. The report gives further recommendations for Hong Kong to make the ESG investment ecosystem thrive through promoting clear policy directives, encouraging disclosures, and expanding intellectual capacities.