The Hong Kong Monetary Authority (HKMA) Infrastructure Financing Facilitation Office (IFFO) hosted a panel discussion on “Greener Bay Area" at the sixth Belt and Road Summit. The panel delved into sustainable development and related financing in the Greater Bay Area, with a focus on green supply chain and infrastructure financing. The panel discussed the landscape, opportunities, and upcoming trends of sustainable development and financing in the Greater Bay Area.
According to Mr. Yu Haiping, Director General, Guangdong Financial Supervisory Authority, “With the introduction of the overall goal of the country’s '“Carbon Peak and Carbon Neutrality,' the Guangdong-Hong Kong-Macao Greater Bay Area has a new historical mission for green finance reform and innovation. In the future, Greater Bay Area will deepen and refine the green finance collaboration in accordance with the national 'Carbon Peak and Carbon Neutrality' policy framework. We suggest to jointly study and improve the green finance standards for the Greater Bay Area, expand the scale of green financial products, and explore the development of a unified carbon market in the Greater Bay Area.”
Keywords: Asia Pacific, Hong Kong, Greater Bay Area, Banking, Securities, Sustainable Finance, ESG, Carbon Neutrality, HKMA
Previous ArticleESRB Issues Papers on LEI and Macro-Prudential Policy Design
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.
The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.