The Hong Kong Monetary Authority (HKMA) announced a new strategic partnership with key multilateral organisations at the Asia Climate Investment Seminar.
This collaboration aims to significantly ramp up sustainable finance initiatives across Asia, focusing on investments that drive down greenhouse gas emissions and support the transition to net-zero.
Partners in this initiative include the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and International Finance Corporation (IFC).
Together, they will prioritise investments in crucial sectors like renewable energy infrastructure, energy solutions, and sustainable transportation.
Actis GP LLP, a key supporter of the partnership, plans to deploy at least US$500 million towards these efforts in Asia.
This partnership underscores the urgent need for collective action to combat climate change in Asia, a region particularly vulnerable to its impacts.
Howard Lee, Chief Executive Officer of the Exchange Fund Investment Office of the HKMA, 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.”