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HKMA unveils Sustainable Finance Action Agenda The Hong Kong Monetary Authority (HKMA) (October 21) launched the Sustainable Finance Action Agenda (Action Agenda), setting out its vision to further consolidate Hong Kong's position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond.    The "Action Agenda" includes eight goals in four areas: I. Banking for net zero II. Investing in a sustainable future III. Financing net zero IV. Making sustainability more inclusive #investment #ExchangeFund #HongKong #sustainablefinance

Bold steps taken by Hong Kong Monetary Authority (HKMA) The Hong Kong Monetary Authority (HKMA) yesterday (October 21) launched the Sustainable Finance Action Agenda (Action Agenda), setting out its vision to further consolidate Hong Kong's position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond. The "Action Agenda" includes eight goals in four areas:   Banking for net zero      1. All banks to strive to achieve net zero in their own operations by 2030 and in their financed emissions by 2050      2. All banks to enhance transparency on climate-related risks and opportunities Investing in a sustainable future      3. Achieve net-zero emissions for the Investment Portfolio of the Exchange Fund by 2050      4. Support transition in the region through investment   Financing net zero    5. Develop Hong Kong into the go-to sustainable financing platform of the region and beyond    6. Catalyse innovation in sustainable finance   Making sustainability more inclusive    7. Support high-quality and comprehensive sustainability disclosures    8. Close talent and knowledge gaps in sustainable finance in the region The HKMA will now work on implementing the Action Agenda, including providing further guidance and supporting tools for the industry. Taking into account market development and industry feedback, the HKMA will also review and refine the Action Agenda as and when necessary. Matthew Bell Terence Jeyaretnam Kazuto Kita

Exciting news from the Hong Kong Monetary Authority! Today, HKMA launched the **Sustainable Finance Action Agenda**, aiming to reinforce Hong Kong as a leading sustainable finance hub in Asia and beyond. The agenda outlines eight key goals across four focus areas: 1. *Banking for Net Zero*: Banks to achieve net zero operations by 2030 and financed emissions by 2050, with enhanced transparency on climate risks. 2. *Investing in a Sustainable Future*: Targeting net-zero emissions for the Exchange Fund's investment portfolio by 2050 and promoting regional transition through investment. 3. *Financing Net Zero*: Establishing Hong Kong as the premier sustainable financing platform and fostering innovation in this sector. 4. *Making Sustainability More Inclusive*: Advocating for comprehensive sustainability disclosures and addressing talent gaps in sustainable finance. Together, these initiatives pave the way for a greener, more sustainable future, and building HONG KONG the real international green finance hub! 🌍💚 #SustainableFinance #HKGreenFinance #NetZero #IFC

We are excited to see the HKMA take another significant step forward with the release of its Sustainable Finance Action Agenda! This comprehensive initiative, which outlines eight key goals across four strategic areas, is a testament to HK's commitment to driving meaningful change towards a greener and more sustainable financial ecosystem. This roadmap is both timely and visionary. It focuses on climate risk management, developing sustainable financial products, strengthening market infrastructures, and promoting Hong Kong's leadership in green finance globally. As event managers for several high-impact events on these crucial topics, we’re thrilled to foster dialogue, collaboration, and innovation, helping our clients bring these conversations to the forefront. Together, we can drive progress toward a sustainable future for Hong Kong and beyond. #SustainableFinance #GreenEconomy #GreenFinance #Sustainability #FinanceInnovation #ESG #FutureOfFinance

Today, we officially announced the HKMA’s Sustainable Finance Action Agenda. It’s time to consolidate our actions towards a more sustainable financial system to support the transition. 🌏 The agenda outlines the HKMA’s sustainability priorities and action plan to support green and sustainable financing needs at local, regional, and global levels. Our initiatives are structured around eight goals in four areas: I. Banking for net zero 1. Drive all banks to achieve net zero in their operations by 2030 and in their financed emissions by 2050. 2. Enhance transparency on climate-related risks and opportunities across all banks. II. Investing in a sustainable future 3. Achieve net-zero emissions for the Investment Portfolio of the Exchange Fund by 2050. 4. Support regional transition through strategic investment by the Exchange Fund. III. Financing net zero 5. Develop Hong Kong into the premier sustainable financing platform for the region and beyond. 6. Accelerate innovation in sustainable finance. IV. Making sustainability more inclusive 7. Support high-quality and comprehensive sustainability disclosures. 8. Close talent and knowledge gaps in sustainable finance across the region. The press briefing began with remarks by Eddie Yue, Chief Executive of the HKMA. Arthur Yuen, Deputy Chief Executive; Donald Chen, Executive Director (Banking Policy); Kenneth Hui, Executive Director (External); and Leong Cheung, Chief Strategy Officer, then elaborated on the four areas of the agenda and discussed the eight goals with the media. Want to learn more about our Sustainable Finance Action Agenda? Click here: https://lnkd.in/gNaQauGg #GreenFinance #Sustainability #SustainableFinance #SustainabilityDisclosures #NetZero #HongKong

How can we empower banking talent to lead a successful net-zero transition? 🌏 We’re excited about HKMA’s announcement of the Sustainable Finance Action Agenda, which marks a significant step in the banking industry’s joint effort to support the transition. The plan, especially the goal to close the talent and knowledge gap in sustainable finance, aligns with our mission to provide training to equip banking professionals with the essential skills and knowledge to support the industry’s green finance opportunities. Excitingly, our ECF-Green and Sustainable Finance programme is now eligible for government subsidies under the Pilot Green and Sustainable Finance Capacity Building Support Scheme, making it more accessible for professionals to gain the expertise required in this crucial area. Together, we can bridge the gap and build a greener, more sustainable future. 🔗Learn more about our subsidised Green and Sustainable Finance programme: https://lnkd.in/g7ZAEkF8 #SustainableFinance #GreenFinance #TalentDevelopment #GreenTraining #Sustainability

Excited to see the sustainable finance agenda in HK taking shape! It highlights the critical role banks play only in their operations but also in their financed emissions. Two questions worth considering: 1) How do we turn "Banking for net zero" into a sector-wide transition plan for the banking industry, showcasing how it can be executed globally? Addressing Scope 3 emissions, which is a challenge beyond just Hong Kong, could position us at the forefront of global leadership if we succeed. 2) "Why HK?" Unlike other regions, Hong Kong lacks key use cases such as manufacturing or energy production to generate local demand for sustainable financing. However, with some of the highest per-square-meter infrastructure spending, can we capitalize on this by pushing for a sector transition—perhaps in building and construction—while aligning with our NDC goals to achieve NetZero by 2050? #SustainableFinance #NetZero #GreenFinance #HKMA #Scope3Emissions #Infrastructure #BuildingTransition #ClimateAction The two questions are now more closely aligned in length. Let me know if this works for you!

💼🌏🌿In a proactive move to address the skills shortage in Sustainable Finance, the Monetary Authority of Singapore has unveiled a S$35 million initiative dedicated to advancing the skills of professionals within the financial sector. This significant investment targets the cultivation of sustainable finance specialists—a stride forward in ensuring the industry keeps pace with the global focus on sustainability. #sustainablefinance #sustainability #finance #SustainableFinanceJobs Learn more about this strategic move here 👉https://lnkd.in/gCxm9ZdU

Developing economies face significant financing gaps, particularly for micro, small, and medium enterprises (MSMEs). According to the International Finance Corporation (IFC), there is a USD 5.7 trillion financing gap for MSMEs globally, with emerging markets particularly affected due to tighter credit conditions and rising interest rates. Additionally, a USD 4 trillion annual investment gap exists to achieve the Sustainable Development Goals by 2030, highlighting the urgent need for increased private capital mobilisation. These affirmations underscores the importance of the new USD 2 billion sustainable supply chain finance program launched by Citi and IFC, aimed at empowering emerging markets and fostering sustainable economic growth.👇🏾 https://lnkd.in/dNmc4h57

The Monetary Authority of Singapore (MAS) has announced a new investment of S$35 million over the next three years to support upskilling and reskilling initiatives in the financial services sector. This funding will help develop sustainable finance specialists and ensure that the workforce is equipped to seize the opportunities presented by the growing sustainable finance market in the Association of Southeast Asian Nations (ASEAN). The new investment announcement was accompanied by the release of the Sustainable Finance Jobs Transformation Map (JTM) by MAS and the Institute of Banking and Finance (IBF). The JTM predicts that the sustainable finance market in ASEAN will reach S$4 to 5 trillion over the next decade, further highlighting the need for upskilling in the financial services sector. This investment demonstrates MAS's commitment to supporting sustainable finance and the development of a skilled workforce to meet the demands of the market. With the financial services sector playing a critical role in advancing sustainable finance, this investment will help ensure a sustainable future for Singapore and the ASEAN region. #esg #sustainability #sustainablefinance