Nu-Credits was recently invited to attend the Green and Sustainable Banking Conference organized by the Hong Kong Monetary Authority (HKMA). The event brought together approximately 400 participants from banking institutions, technology firms, regulatory bodies, and academia.
The primary objective of the conference was to provide a platform for the banking and technology sectors to discuss the role of low-carbon technologies and green financial technology in the transition towards net-zero in Hong Kong and mainland China.
Panel discussions delved into various types of low-carbon technologies such as hydrogen energy, carbon capture, utilization and storage, as well as intelligent energy management systems, exploring their contributions to the net-zero transition.
Moreover, discussions centered on how the banking industry in Hong Kong can assist in expanding the application of these technologies through its lending and investment decisions.
Mr. Eddie Yue, Deputy Chief Executive of the HKMA, delivered the opening address at the Green and Sustainable Banking Conference.
(From left) Professor Luk Shu-chen, Chief Development Strategist of the Institute of Environmental Studies, Hong Kong University of Science and Technology, moderated one of the panel discussions. Speakers included Mr. Chi Keung Ho, Deputy Director of Sustainable Development at Swire Properties Limited; Professor Jia Li from the Hong Kong University of Science and Technology (Guangzhou); Mr. Zhiqiang Lv, Deputy Director of Decarbonization Architecture at China Power International Development Limited; and Mr. Keqiang Liu, Co-founder and CEO of YeePay Advanced Technology Co., Ltd.
(From left) Dr. Agnes K Y Tai, Director at Great Glory Investment Corporation, moderated another panel discussion during the conference. Speakers in this session included Dr. Peter Ho, Head of STP Platform at Hong Kong Science and Technology Parks Corporation; Ms. Bing Sin Wong, Managing Director and Head of New Economy Strategic Business Development Team at UBS Global Wealth Management; and Mr. Plato Yip, Vice Chairman of Everbright International Investments.
The conference concluded with an award ceremony for the Green Financial Technology Competition. Launched in September 2023, this competition aims to seek market-ready solutions to help the banking industry address challenges related to net-zero transitions and planning, climate risk management, green and sustainable finance, as well as sustainability or climate-related disclosures and reporting.
Over 85 submissions were received from around 70 companies. Winners and finalists for each theme showcased their solutions in the conference's exhibition area, including blockchain-based systems for ESG data reporting and analysis, and AI tools for physical risk assessment.
Climate change stands as a primary risk to human well-being. The operations of banks and financial systems are evidently poised to influence the management or mitigation of climate risks. HKMA is committed to advancing green and sustainable finance to address climate risks.
Furthermore, the HKMA actively engages in international forums, supporting global green finance development. As a member of the Network for Greening the Financial System (NGFS), the HKMA participates in the network's working groups, exploring how to incorporate climate risks and other green and sustainable factors into regulatory frameworks and macroprudential supervision.