Hong Kong Monetary Authority (HKMA) CEO Raymond Yu has announced plans for the upcoming Green Finance Week, which will take place in February. The event, organized in collaboration with the Government and the International Financial Institution, will include a global climate finance forum.
The forum aims to facilitate discussions on the transition to green finance and to organize a roundtable meeting with experts on blended finance in collaboration with the International Monetary Fund.
Throughout Green Finance Week, various financial institutions will organize green finance events aimed at raising Hong Kong’s green brand on the global stage. HKMA expects the week-long event to serve as a platform for meaningful discussions and initiatives, envisioning a “global” and robust identity for sustainable finance in Hong Kong.
HKMA is preparing to launch its second tokenized green bond in the coming months. Highlighting the synergy between green finance and fintech, Yu emphasized the operational efficiency potential of blockchain technology in bond payment processes. HKMA is also exploring the integration of blockchain and Internet of Things (IoT) technologies in tokenized green bonds.
Yu highlighted a significant increase in green bonds and loans from $11 billion to $80 billion in the past two years, emphasizing the sector’s potential for further expansion and continuous growth despite already experiencing significant growth in the green finance sector.
Green bonds are understood to be directly linked to climate change and are fixed-income securities issued in the markets to finance projects aimed at mitigating environmental issues by lenders.