12:30 – 2:00pm. In March 2015, The People's Bank of China (PBOC) published a summary report of the Green Finance Task Force, 'Establishing China's green ﬁnancial system,' which sets out fourteen areas for action. This was followed in September 2016 by a set of guidelines explaining how this would be achieved. The PBOC estimates that China will need to invest RMB 3-4 trillion in green projects each year during the 13th ﬁve-year plan period.
Here in Hong Kong, the Financial Secretary's Budget Speech 2016-2017 made reference to green ﬁnance, and stated that the government will strengthen efforts to highlight Hong Kong's competitive edge in developing green ﬁnancial products. The Financial Services Development Council (FSDC) has since published its recommendations to government, in FSDC paper 23, 'Hong Kong as a regional green ﬁnance hub.' There are early signs of adoption among the business community, with The Link REIT, MTRC and CLP issuing green bonds.
The government's Climate Action Plan 2030+, published in January 2017, sets out the need for the ﬁnancial services sector to play a role in climate change and green ﬁnance.
Come along to this lunchtime talk to hear Dr Ma Jun, Chief Economist, Research Bureau, PBOC, and Chair of the Green Finance Committee share his views on how China is leading the world on green ﬁnance.
The event will open with welcoming remarks by Christine Loh. Dr Ma will then present his keynote speech on the latest green ﬁnance activities, after which the Hong Kong panellists will discuss green ﬁnance development, opportunities and implications for Hong Kong businesses.
Hosted by the Environment Committee and Financial Services Committee