Serena Mak, Green Finance Advisor of Friends of the Earth (HK) / Serena Mak, 香港地球之友綠色金融顧問
If we look beyond Hong Kong, the topic of Green Finance is picking up momentum globally. Governments are putting up measures such as initiatives to incentivize green investing or laws & regulations that penalize corporations that are negatively impacting the environment. In the private sector, it can be seen that green investments can generate good returns, which is encouraging to see. Apart from products such as Green Bonds, China is also engaging in innovative ways to ‘monetize’ the effect of business to the environment, such as the first China Emissions Exchange located in Shenzhen which was established in 2013 and is trading ‘emission allowances’ for carbon dioxide.
As mentioned by the various interviewees in one of our inaugural blog videos, there is a great need for international collaboration across boundaries to promote the topic of Green Finance. Few examples include the setting up of the US-China Green Fund which is supported by both the US and China government, and also the recent collaboration between the French Development Agency (AFD) and a Chinese Bank.
Hong Kong as one of the world’s biggest financial markets has a unique opportunity to also promote cross-border collaboration to further expand its footprint in the Green Finance space.
Some opinion article about emission trading system can be found here:
News Article about AFD and Chinese bank collaboration: