HONG KONG: Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group announced on Thursday its green and sustainable finance strategy for Hong Kong and five key action points.
The steering group acknowledged that climate change is a global issue which requires a global solution.
In addition, other environmental, social and governance factors may also impact businesses. It welcomed the announcement that Hong Kong will strive for carbon neutrality before 2050, and stand ready to support the strategies and measures that will come out of the updating of the Hong Kong’s Climate Action Plan in mid-2021.
To enhance transparency on the way forward for Hong Kong, the steering group has developed a strategic plan, which highlights six key focus areas for strengthening Hong Kong’s financial ecosystem to support a greener and more sustainable future in the longer term.
They include strengthening climate-related financial risk management, promoting the flow of climate-related information at all levels to facilitate risk management, capital allocation and investor protection; enhancing capacity building for the financial services industry and raising public awareness. –PNP
