Hong Kong: Green and sustainable finance - How governmental authorities are navigating climate risks globalcompliancenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalcompliancenews.com Daily Mail and Mail on Sunday newspapers.
Green and sustainable finance in Hong Kong
The World Economic Forum Global Risks Report 2020, published in January 2020, highlighted significant risks that will be seen across the world in the next decade. Five of the top ten risks identified were climate-related. As such, governments, central banks, and other financial institutions are being called to action.
According to the United Nations (UN), Asia-Pacific is one of the regions that is most vulnerable to climate change risks. Globally, there have recently been extreme weather events, such as widespread forest fires and rising sea-levels, and Hong Kong saw its hottest summer on record.
Hong Kong Monetary Authority (HKMA)