HKMA Partners with Multilateral Organizations to Boost Sustainable Finance in Asia

HKMA and multilateral organisations enhance strategic partnership for climate investment in Asia

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA), has joined hands with multilateral organisations, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and International Finance Corporation (IFC), a member of the World Bank Group, to announce a strategic partnership at the Asia Climate Investment Seminar today (November 11). The partnership marks a significant step towards strengthening strategic co-operation in sustainable finance in Asia.

The strategic partnership serves as a call to action for all stakeholders to unite against climate change, with Actis GP LLP (Actis) being one of the General Partners supporting the initiative, aiming to deploy at least US$500 million in Asia. The partners emphasise the importance of a collaborative approach involving multiple partners and institutions to address sustainability challenges in the region. They will focus on investments in sectors that contribute to achieving net zero emissions and reducing greenhouse gases in the region, including renewable energy infrastructure, energy solutions and sustainable transportation.

The Chief Executive Officer of the Exchange Fund Investment Office of the HKMA, Mr Howard Lee, said, "As a leading green finance hub in Asia, Hong Kong has been facilitating a significant portion of the region’s international green and sustainable bonds in recent years.Through strategic partnerships, we aim to demonstrate that achieving both financial return and sustainable development in Asia is not only feasible but essential for our vision of progress and environmental stewardship."

The Director General for Private Sector Operations of the ADB, Ms Suzanne Gaboury, said, "Developing economies in Asia and the Pacific face significant shortfalls in climate investments needed to clear the path to green growth. As the climate bank for the region, ADB is scaling up its climate financing and collaborating with like-minded organisations to channel capital to bankable and impactful development projects."

The Director General, Financial Institutions and Funds Clients Department, Global, of the AIIB, Mr Gregory Liu, said, "Our strategic partnership with the HKMA, ADB, and IFC reflects AIIB’s commitment to advancing climate-focused investments that drive sustainable growth in Asia. Together, we aim to accelerate Asia’s transition to a low-carbon economy, setting a robust foundation for impactful climate action and regional resilience."

TheRegional Director for East Asia and the Pacific at IFC, Ms Kim-See Lim, said, "Climate change is the challenge of our time, and the stakes are especially high in Asia, where the crisis poses major challenges to environmental stability, economic growth and human development. IFC is pleased to collaborate with HKMA, Actis, ADB and AIIB to drive meaningful change by channelling capital into climate projects in countries across the region that need it most, while helping to accelerate an inclusive transition to low-carbon, resilient growth."

Partner, Head of Sustainability at Actis, Ms Shami Nissan,said, "With half the world’s population, rapid industrialisation, carbon intensive grids and accounting for half of global emissions, Asia is absolutely vital to our ability to deliver a net zero future. We are delighted to be partnering with strategic investors of Actis to support this need."

About HKMA

The HKMA is Hong Kong's central banking institution. The HKMA's main functions are: (i) maintaining currency stability within the framework of the Linked Exchange Rate System; (ii) promoting the stability and integrity of the financial system, including the banking system; (iii) helping to maintain Hong Kong's status as an international financial centre, including the maintenance and development of Hong Kong's financial infrastructure; and (iv) managing the Exchange Fund.

About ADB

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

About AIIB

The AIIB is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. The AIIB began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. The AIIB is capitalised at US$100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

About IFC

IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. IFC work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilising private capital to create a world free of poverty on a livable planet. For more information, visitwww.ifc.org.

About Actis

Actis is a global investment management firm focused on sustainable infrastructure including sustainable energy solutions.

HKMA and multilateral organisations enhance strategic partnership for climate investment in Asia Source: HKSAR Government Press Releases

HKMA and multilateral organisations enhance strategic partnership for climate investment in Asia Source: HKSAR Government Press Releases

HKETO, Brussels presents award to Italian company with deep business ties in Hong Kong

The Hong Kong Economic and Trade Office in Brussels (HKETO, Brussels) presented a Special Hong Kong Award to an Italian company at the 19th China Awards in Milan, Italy on December 4 (Milan time).

The China Awards, organised by the Italy China Council Foundation (ICCF) annually, is one of the most influential business events in Italy. It recognises Italian companies that have grasped the opportunities in the Chinese market and vice versa, Chinese companies that have invested in Italy and engaged in strategic and innovative collaboration with Italian counterparts.

Deputy Representative of HKETO, Brussels Miss Fiona Li, commended the recipient of the Special Hong Kong Award, Venchi. This Italian confectionery company has expedited its expansion in Asia, leveraging Hong Kong's vibrant culinary landscape, strategic location and unmatched connectivity with Mainland China. "Its success in Hong Kong and in Asia speaks for itself that establishing a presence in Hong Kong is conducive to its market expansion. It is the testimony of the strengths of Hong Kong - our low and simple tax regime, free flow of capital, business-friendly environment, and advanced logistics and supply-chain management", Miss Li said.

The event offered an opportunity to put a quartet comprising of Hong Kong's musicians in the spotlight before 300 executives and senior representatives of top Italian and Chinese companies. The quartet, which was brought to the event by HKETO, Brussels to help give Hong Kong talents international exposure and to showcase Hong Kong as an international cultural exchange hub, had Grace Chan, double bass player; Isaac Lam, pianist; Melody Lau, violinist; and Emily Chan, soprano. Grace Chan was selected to participate in the Rome Chamber Music Festival's Young Artist Programme in June 2024.

Miss Li also highlighted the latest measures in the Policy Address to the Italian audiences on enhancing Hong Kong's status as an international financial, shipping and trade centre, including lowering the tariff on liquor. She elaborated that Hong Kong's distinctive advantages including an independent judiciary, a free trade and investment regime, and an efficient and clean government are kept under the "one country, two systems" principle as she encouraged Italian companies and talents to come to Hong Kong. "Hong Kong is and will remain your prime gateway to China and your most preferred partner in Asia", she added.

The ICCF is the largest Italy-China business association in Italy that facilitates collaboration between Italian and Chinese companies. The ICCF organises the annual China Awards in partnership with the Italian Chamber of Commerce in China and with the support of the China Chamber of Commerce in Italy.

HKETO, Brussels presents award to Italian company with deep business ties in Hong Kong Source: HKSAR Government Press Releases

HKETO, Brussels presents award to Italian company with deep business ties in Hong Kong Source: HKSAR Government Press Releases

HKETO, Brussels presents award to Italian company with deep business ties in Hong Kong Source: HKSAR Government Press Releases