HONG KONG SAR - Media OutReach - 27 July 2021 - Cyberport Academy will host a Green Finance Speaker Series
to promote green finance in Hong Kong with FinTech support in light of the rise of green finance. Cyberport believes that FinTech can empower the development of green finance and is committed to playing a role in promoting green FinTech to strengthen Hong Kong as an international financial centre.
Eric Chan, Chief Public Mission Officer of Cyberport, says Cyberport has a good number of community members focused on green FinTech and will play a key role in promoting Hong Kong as a leading green FinTech Hub.
The Green Finance Speaker Series will be launched this Thursday (29 July). Two other sessions are scheduled on 12 and 19 August. It strives to provide the latest knowledge of green finance development, with each session covering various topics from the historic development of international policies and recent developments in Asia and Hong Kong during the Pandemic to recognised successful European case studies with the integration of technology. The details of the Series are as follows:
- The first session "Green Finance: Overview – The Best Practice, International Policy and Measures" will be chaired by Dr William Yu, CEO of World Green Organisation
- The second session "Sustainability-related financial risks in Hong Kong and Asia amid Pandemic Era" will be chaired by Dr Glenn Frommer, Founder of ESG Matters
- The third session "See a Problem, Measure It and Fix It" will be chaired by Arnaud Picut, Head of Global Risk Management Practice at Finastra, and Dr Leonid Bogachev, Associate Professor of Reader in Probability at the University of Leeds
The Organisation for Economic Co-operation & Development (OECD) estimates that as much as US$7 trillion will be needed each year until 2030 to meet climate and development objectives. This creates huge demand for green finance. Additionally, according to the "Hong Kong Green Bond Market Briefing 2020" report issued by Climate Bonds Initiatives, Hong Kong's green debt market maintained growth in size and diversity last year. Hong Kong Exchanges and Clearing Limited also continues to enhance the ESG requirements of listing companies while investors are increasingly more demanding in investments to perform well in environmentalism and sustainability. With FinTech's role in propelling green finance, FinTech will be significant in such developments as well.
Eric Chan, Chief Public Mission Officer of Cyberport
, said,"When financial investments flow into sustainable development projects and initiatives, environmental products, and policies that encourage the development of a more sustainable economy, the market requires efficient tools for collecting, monitoring and analysing data for better investment decisions. FinTech delivers such solutions. Cyberport has a good number of community members focused on green FinTech and will play a key role in promoting Hong Kong as a leading and green FinTech hub."
Cyberport is a member of the Working Groups under the newly established Centre for Green and Sustainable Finance by the Hong Kong Monetary Authority-led Green and Sustainable Finance Cross-Agency Steering Group. With the objective of helping the financial industry manage the risks and capture the opportunities presented by combating climate change, the Centre is a cross-sector platform which coordinates the efforts of financial regulators, Government agencies, industry stakeholders and academia in capacity building, thought leadership and policy development. It will also serve as a repository for resources, data and analytics which supports the transition to more sustainable development.
Arnaud Picut, Head of Global Risk Management Practice at Finastra,
said, "There will be no progress in green finance without a strong FinTech community. Cyberport is making a lot of progress and has taken green finance as one of the major streams of development. With a strong investment and focus from different government bodies, Hong Kong will catch up quickly with the leader. Financial institutions can employ FinTech within green finance operations to better analyze costs and efficiency and increase data authenticity."
Dr William Yu, Chief Executive Officer of World Green Organization,
said, "Green finance helps provide funds to address different environmental challenges, turning them into investment opportunities via structural financial activities and instruments. With the advancement in technology experienced in FinTech, technology will play a key role in shaping our future financial services. For example, blockchain applications will enhance transparency in sustainability efforts, creating reliable records in environmental projects. UN Sustainable Development Goals (SDGs) could also be a reference, and serves as a universal agenda that applies to all countries at the national and local level."
Dr Glenn Frommer, Founder of ESG Matters
, a Cyberport incubatee,
said, "With green finance growing rapidly, its potential as the next frontier in the FinTech ecosystem is unquestionable. FinTech is a critical enabler for green finance, starting with the mass of ESG data needed to be considered for financial investments. We are hopeful that ESG data quality and availability will improve. With the continued growth of green and sustainable finance, we will likely see further development of the green FinTech landscape globally."
Registration for the event can be completed through Cyberport Academy's website five days in advance at the latest. The sessions will be free and have duration of 1–1.5 hours. Any enquiries should be directed towards firstname.lastname@example.org.
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Cyberport is an innovative digital community with over 1,650 start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups on their growth journey, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in the public and private sectors.
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