2022 ESG And Green Finance Opportunities: Navigating Climate Risk And Financing Climate

1 min read

DigitalCFO Newsroom | 14 October 2022

There is a growing global demand for strengthened ESG regulatory compliance and disclosure in recent years.

Following the success of the inaugural “ESG and Green Finance Opportunities Forum” by The Chamber of Hong Kong Listed Companies (CHKLC) last year, the second edition of the event will return this year on October 27. With Hang Seng Bank’s continued support and title sponsorship, the 2022 Forum will be themed Navigating Climate Risk and Financing Climate Actions.

Financial Secretary Paul Chan Mo-po has confirmed to deliver opening address while Secretary for Environment and Ecology Tse Chin-wan will give a luncheon speech. CHKLC’s Chairman Catherine Leung and Hang Seng Bank’s Executive Director and Chief Executive Diana Cesar will also speak at the opening ceremony. Asian Infrastructure Investment Bank will participate in one of the panels.

Greater Global Demand To Raise Corporates’ ESG And Green Practices

There is a growing global demand for strengthened ESG regulatory compliance and disclosure in recent years. The Hong Kong bourse requires the filing of annual ESG reports with greater disclosure including climate-related financial disclosures, while the mainland’s securities regulator has called for mandatory disclosures to include environmental violation penalties, among others.

The extreme weather and energy crisis have further prompted investors to study the initiatives taken by businesses relating to carbon footprint reduction and the sustainability goals and practices of their operations.

In line with the mainland’s carbon peak and neutrality targets in 2030 and 2060, the Hong Kong Government is expected to launch additional green and carbon emissions reduction policies for the business community. Hang Seng Indexes Company has recently launched a climate-linked market tracker as a tool to help promote the city as a fundraising hub for green products.

Green financing market is thriving, and the global issuance of green, social, sustainability and sustainability-linked (GSSS) bonds is forecast to total US$1.7 trillion this year, representing 52 per cent year-on-year growth. All these latest developments have incentivised businesses to enhance their ESG and green practices.

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