HKMA-Alliance for Green Commercial Banks Hosts “Evolving Green and Sustainable Capital Market Roundtable”

The Alliance for Green Commercial Banks (the Alliance), co-launched by the Hong Kong Monetary Authority (HKMA) and the International Finance Corporation (IFC), co-organized the “Roundtable Session on the Evolution of the Green and Sustainable Capital Market” with Standard charter virtually today (May 3).

The Alliance was launched jointly by the HKMA and the IFC in November 2020 to help banks develop the solutions needed to address climate change in emerging markets. As part of its knowledge-sharing and capacity-building efforts, the Alliance organized a series of roundtables on relevant topics. The sessions will equip attendees with the knowledge to support them in their transition to green banking and provide a platform for market participants from commercial banks, leading real estate companies, technology innovators, thought leaders and regulators to share their first-hand experiences. and intelligence.

The round table was moderated by Ms. Tracy Wong HarrisSustainable Finance Manager, Asia, Standard charterand featured the following speakers:

M Kenneth HuiHead of the Market Development Division, Hong Kong Monetary Authority;

M Julien LeeExecutive Director, Finance, Hong Kong Airport Authority;

M Raoul ShethGlobal Head, Sustainable Bonds, Standard charter; and

Mrs Emily WoodlandManaging Director, APAC Co-Head of Blackrock Sustainable Investing (BSI).

During the roundtable, panellists discussed the rapid growth of the sustainable finance market, the huge funding gap to reach net zero, and the associated opportunities for global capital markets.

Mrs Tracy Wong HarrisSustainable Finance Manager, Asia, Standard chartersaid: “According to Standard Chartered According to the report “Sustainable Debt Market – Up, up and away”, the global issuance of green, social, sustainable and sustainability-related bonds will increase by 52% year-on-year for US$1.7 trillion in 2022, and continue to increase to reach US$4.2 trillion in 2025. With the vision of being the most sustainable and responsible bank in the world, Standard charter wants to help bridge the finance gap and meet our clients’ sustainability aspirations through innovative sustainable finance solutions.

M Kenneth HuiHead of the Market Development Division, Hong Kong Monetary Authority, said: “We recognize the need and urgency to address climate and environmental risks and shift to a more sustainable economy. Finance is key to driving this change. By consolidating our existing strengths and expertise and developing innovative new capabilities, we hope to leverage our role as an international financial center to support carbon neutral goals and mobilize capital to drive sustainable action in this region.

M Julien LeeExecutive Director, Finance, Hong Kong Airport Authoritymentioned, ‘Hong Kong Airport Authority (AAHK) aspires to develop Hong Kong International Airport to be one of the greenest airports in the world through a series of sustainability strategies, including reduced carbon emissions and eco-friendly designs. Appropriate form of green finance, in the case of AAHK, such as the 5-year 1 billion US dollars issuing green bonds earlier this year would align these goals with capital markets.

M Raoul ShethGlobal Head, Sustainable Bonds, Standard charter, said, “As the ESG debt market develops, we are seeing investor conversations become much more granular around borrowers’ overall sustainability aspirations, ESG risk management and adherence to trajectories. national and global decarbonization. In this, the sustainability related finance product has become the fastest growing category within the basket.

The Alliance will organize other round tables in the near future. Attendees will have the opportunity to learn and exchange knowledge with global sustainability and environmental, social and governance (ESG) experts, leaders in green finance and the real sector, as well as peers from across the region on topics such as green finance, carbon neutrality, climate risk, ESG, market trends and opportunities, political environment, etc.

Hong Kong Monetary Authority

May 3, 2022

The Alliance for Green Commercial Banks co-organized the “Roundtable on the evolution of green and sustainable capital markets” with Standard charter virtually today (May 3). The round table is moderated by Ms. Tracy Wong HarrisSustainable Finance Manager, Asia, Standard charterand is joined by Mr. Kenneth HuiHead of the Market Development Division, Hong Kong Monetary Authority; M Julien LeeExecutive Director, Finance, Hong Kong Airport Authority; M Raoul ShethGlobal Head, Sustainable Bonds, Standard charter; and Mrs. Emily WoodlandManaging Director, APAC Co-Head of Blackrock Sustainable Investing (BSI).

The Alliance for Green Commercial Banks co-organized the “Roundtable on the evolution of green and sustainable capital markets” with Standard charter virtually today (May 3). The round table is moderated by Ms. Tracy Wong HarrisSustainable Finance Manager, Asia, Standard charterand is joined by Mr. Kenneth HuiHead of the Market Development Division, Hong Kong Monetary Authority; M Julian LeeExecutive Director, Finance, Hong Kong Airport Authority; M Raoul ShethGlobal Head, Sustainable Bonds, Standard charter; and Mrs. Emily WoodlandManaging Director, APAC Co-Head of Blackrock Sustainable Investing (BSI).

The Alliance for Green Commercial Banks

The Alliance for Green Commercial Banks (the Alliance) is an initiative that brings together financial institutions, research institutes and innovative technology providers to develop a green community in emerging markets to collectively finance the infrastructure and business solutions needed to address urgent climate and environmental risks. The Alliance was launched in November 2020 by IFC and its first regional anchor HKMA. For more information, please visit: www.allianceforgreencommercialbanks.org.

About IFC

IFC-a member of the World Bank Group-is the world’s largest development institution focused on the private sector in emerging markets. IFC works in more than 100 countries, using its capital, expertise and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private businesses and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the effects of the COVID-19 pandemic . For more information, visit www.ifc.org.

About HKMA

the Hong Kong Monetary Authority (HKMA) is that of Hong Kong central banking institution. The four main functions of the HKMA are: (i) to maintain monetary stability under the linked exchange rate system; (ii) promote the stability and integrity of the financial system, including the banking system; (iii) help maintain that of Hong Kong status as an international financial centre, including the maintenance and development of that of Hong Kong financial infrastructure; and (iv) the management of Exchange funds.