Hong Kong to speed up development into Int'l green, sustainable finance center

HONG KONG, May 12 (Xinhua) -- Hong Kong will continue to accelerate development into an international center for green and sustainable finance, with industry-leading progress made over the years, an official of the Hong Kong Special Administrative Region (HKSAR) government said Friday.

Hong Kong, a vibrant and resilient international financial center, is uniquely positioned to play a leading role in green finance, said Christopher Hui, secretary for financial services and the treasury of the HKSAR government, in a speech at the Asia Summit on Green Economy.

Over the years, with local, mainland and overseas issuers using Hong Kong's sustainable finance platform, the amount of green and sustainable debt arranged and issued in Hong Kong has been increasing steadily, he said.

The total green and sustainable debt including both bonds and loans issued in Hong Kong increased by over 40 percent from 2021 to reach 80.5 billion U.S. dollars in 2022, among which the volume of green and sustainable bonds arranged in Hong Kong accounted for one-third of the Asian market.

To accelerate the development of Hong Kong into an international center for green technology and finance, the HKSAR government's main efforts will include building a green technology ecosystem and enhancing exchange and cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area and international markets, he said.

Efforts will also be made toward green finance application and innovation, green certification and alignment with international standards, and the training for talents, he added.

Hong Kong aims to attain a 50 percent reduction in carbon emissions by 2035 and carbon neutrality by 2050.