The Government of the Hong Kong Special Administrative Region (HKSAR Government) has become the first Asian signatory to the Green Bond Pledge.
The pledge is a declaration that all bonds financing long term infrastructure and capital projects need to address environmental impact and climate risk.
The HKSAR Government joins the US State Treasurers of California, New Mexico and Rhode Island, the Cities of Asheville and San Francisco, King County, San Francisco Public Utilities Commission, Government of Mexico City, Australian pension fund LGS, South Africa’s FedGroup and Luxembourg Green Exchange.
Climate Bonds Initiative says joining the pledge demonstrates Hong Kong’s commitment to incorporate low carbon, resilient and sustainable solutions into the planning and deployment of infrastructure projects, with the aim of reinforcing the goals of the Paris climate agreement.
A spokesperson from the Financial Services and the Treasury Bureau of the HKSAR Government said: “The HKSAR Government aims to develop and firmly establish Hong Kong as a leading hub for green finance in the region. Committed to fostering a robust green bond market in Hong Kong, we welcome like-minded issuers to arrange financing for their green projects through our deep and liquid capital markets.
“Amongst other incentive measures to promote the development of green finance in Hong Kong, we have launched the Government Green Bond Programme to encourage more issuers to arrange financing for their green projects through capital markets in Hong Kong and grow the local green investor base.”