|Accelerating Hong Kong’s Green Finance Agenda|
|Host / Sponsor:||EuroCham Financial Services Business Council|
|Event Time:||8 January 2019, 8:00 – 9:30 am|
|Venue:||1 Jackson Road, Central, Hong Kong|
EuroCham Financial Services Business Council hosted over 50 guests at the breakfast conference. A living discussion was stimulated on how to accelerate Hong Kong’s Green Finance Agenda.
Key note speakers:
Alexandra Tracy presented the newly published briefing paper on “Driving Private Financing for Green Industries in Hong Kong – The Catalytic Role of a Green Investment Bank”. Tracy reiterated the functions and necessity for Hong Kong to have a Green Investment Bank (“GreenBank”), as an effective means to catalyse the growth of green private investment. She illustrated with convincing details on the existing success that Green Investment Bank has achieved in the UK, Australia, and Connecticut and New York State in the US. With solid success in other jurisdictions, GreenBank in Hong Kong will be prone to substantially support bankable low-carbon projects and thus create a market driven acceleration of green finance, both providing momentum in capital and sending a powerful signal from the government.
The panel of investment experts presented their supportive views on the establishment of a GreenBank. They shared their knowledge and experience on the topic of green finance in Hong Kong. Despite the strong advocacy and pioneering introduction of funds incorporating environmental strategies, the panel admittedly revealed the slow progress on awareness raising and low demand of retail investors.
The audience with various backgrounds participated in the discussion session and formulated interesting information exchange with the panelists. They urged swift attitude change of licensed banks in Hong Kong and the inclusion of green funds for MPF and pension schemes.
Participants in the breakfast conference included government officials, bankers, investment analysts, lawyers, think tank researchers and professors.