Theme Combating climate risks and achieving a sustainable future
Bring together international experts to navigate transition finance, social impact investing and decarbonization technologies
Deputy Financial Secretary Michael Wong delivers opening remarks
HONG KONG SAR – Media OutReach – October 4, 2023 – More than 200 business leaders and ESG experts from different sectors gathered today at the “2023 ESG and Green Finance Opportunities Forum” to discuss the theme “Combating climate risks and achieve sustainable development. Future: Transition financing and innovative technologies”. Organized by the Hong Kong Chamber of Listed Companies (“CHKLC”) and sponsored by Hang Seng Bank for three consecutive years, the Forum was chaired by Deputy Financial Secretary, Mr. Michael Wong, who delivered the keynote speech. opening. CHKLC President Ms. Catherine Leung and Hang Seng Executive Director and Managing Director Ms. Diana Cesar also spoke at the opening session.
The “ESG and Green Finance Opportunities Forum 2023” discussed tackling climate risks and achieving a sustainable future. Guests included HKSAR Deputy Financial Secretary Mr. Michael Wong (front row, middle); Ms. Catherine Leung, President of the Hong Kong Chamber of Listed Companies (front row, 4th from left), and Ms. Diana Cesar, Executive Director and Managing Director of Hang Seng Bank (front row, 4th from right).
Four thematic discussion panels are planned to address updating regulations in response to stricter climate-related disclosure requirements, as well as exploring emerging issues of transition financing, social impact investing and decarbonization technologies to help attendees stay ahead of the curve with their ESG plans in the areas of discussion mentioned above. Nearly 30 business leaders and ESG experts spoke and shared their experiences during the four discussion panels.
CHKLC encourages listed companies to shift to a low-carbon mode of business using technology
CHKLC President Catherine Leung said: “The theme of today’s Forum is the use of green finance and technology to overcome climate risks and strive for sustainable development. Technology is an important enabler in many aspects of our modern world, and a large number of mainland and Hong Kong companies have built a strong technological foundation, enabling them to produce products and services that meet international standards and which are in high demand. This not only generates revenue but, when applied to environmental industry sectors, will also make a great contribution to decarbonization efforts globally. “I encourage listed companies to explore the use of technology in transitioning their businesses to a low-carbon mode, or venturing into new areas of business, to further protect our climate and our environment, explore new opportunities for shareholders and create more value.”
Hang Seng champions businesses transitioning to a sustainable, low-carbon model
In her opening speech, Executive Director and Managing Director of Hang Seng Bank, Ms. Diana Cesar, said: “Hong Kong has a unique opportunity to play a major role in green finance. At Hang Seng, we leverage our financial expertise to support sustainable projects. Through green lending and low-carbon investments, we work with our clients to usher in a new era of sustainable business practices.
Transition financing and innovation technology to support the low-carbon transition
Managing climate risks is one of the most significant challenges businesses face in recent years due to mitigation costs and increased disclosure requirements. By January 2024, it is proposed that climate-related disclosures will be mandatory in listed companies’ ESG reports. Many traditional businesses with higher GHG emissions are eager to transition to low-carbon and low-emission operations through business transformation. Transition finance plays a central role in the transition to a low-carbon economy.
Social impact investments to connect with communities
As a corporate citizen, committing to meeting social needs and connecting with the community is also considered alignment with ESG requirements. Companies are increasingly pushing to address social concerns in addition to environmental needs, with some even taking the lead in social impact investing. Decarbonization technologies have also been developed in response to climate risks and can be of great help to businesses in achieving low carbon operations.
4 discussion panels to address current ESG topics
All these crucial questions are therefore at the center of discussions at today’s ESG and Green Finance Opportunities Forum 2023, which will be addressed in the following 4 roundtables.
(1) Panel 1: Transition Financing – Trends, Opportunities and Challenges
Transition financing involves providing financial support that helps carbon-intensive businesses start implementing long-term changes to become greener. The characteristics and practices of transition financing, as well as how businesses in Hong Kong and GBA can best use it in their efforts to combat climate change, were discussed.
(2) Panel 2: Social impact investments for sustainable growth
Beyond decarbonization, funding should also be directed towards projects with a positive social impact. This session introduced social impact investing as a means to advance the Sustainable Development Goals and assess ongoing efforts in Hong Kong and the GBA.
(3) Panel 3: Regulatory updates on ESG reporting and climate risk disclosure
Representatives from HKEX and SFC regulators are invited to share updates on the latest climate-related rules and regulations to prepare local businesses for better compliance and reporting.
(4) Panel 4: Decarbonization strategy and technological application
Experts shared innovative technologies and forward-looking strategies to help listed companies achieve low-carbon operations and meet their carbon neutrality targets.
Financial and ESG experts as speakers
Financial heavyweights, regulators and ESG veterans were invited to speak at the 4 panels and share their valuable experiences. The list includes, but is not limited to: Mr. Paul MALAM, Head of Policy and Secretarial Services, Listing of HKEX; Ms. Jennifer LEE, Director of the Corporate Finance Division, SFC; Professor Simon HO, President of Hang Seng University of Hong Kong; Mr. Frank HEUNG, Head of Structured Finance, Commercial Real Estate and Business Advisory of Hang Seng Bank; Mr. Anthony CHEUNG, member of the supervisory board, World Benchmarking Alliance; Mr. Ricco ZHANG, Senior Director, Asia Pacific, International Capital Markets Association; Ms. Katherine KOH, Global Climate Lead for Infrastructure at IFC; Mr. Peter YAN, CEO of Cyberport, as well as senior ESG executives from listed companies.
(The list of speakers and the conference program can be consulted
https://www.chklc-esgforum.com/website/index.html)
Hashtag: #CHKLC
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