Hong Kong Government signs Green Bond Pledge

The Government of the Hong Kong Special Administrative Region (HKSAR) has become the first Asian signatory to the Green Bond Pledge, demonstrating Hong Kong’s commitment to incorporate low carbon, resilient and sustainable solutions into the planning and deployment of infrastructure projects, with the aim to reinforce the goals of the Paris Agreement.

The HKSAR Government is joining 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 in the list of issuer and supporter signatories.
A spokesperson for the Environment Bureau of the HKSAR Government, says: “The HKSAR Government is pleased to join the international community in making this Green Bond Pledge. Hong Kong’s Climate Action Plan 2030+ has set out our 2030 target, which is to reduce Hong Kong’s carbon intensity by between 65 per cent and 70 per cent, compared with the 2005 level. We are sparing no efforts to make this happen.”

A spokesperson for the Financial Services and the Treasury Bureau of the HKSAR Government, says: “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.”
Sean Kidney (pictured), CEO, Climate Bonds Initiative, says: “We are very pleased that the HKSAR Government has joined the Green Bond Pledge. Hong Kong has been one of the pioneering cities in Asia to adopt and develop green finance. In 2018, the HKSAR Government announced its HKD100bn sovereign green bond programme which is one of the world’s largest, demonstrating its leadership and commitment to a low carbon economy.

“We look to more financial institutions and cities in Asia and the Pacific to follow suit in signing the Green Bond Pledge and accelerating green and climate finance initiatives.”

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