International Forum for sustainable development gathered political and commercial leaders
HONG KONG SAR - Media OutReach Newswire - 4 November 2024 - To celebrate its 35th Anniversary, Hong Kong Quality Assurance Agency (HKQAA) held the 35th Anniversary Forum cum Celebration Ceremony at Ballroom, Level 3, JW Marriott Hotel Hong Kong. The Forum in the morning session was officiated by Mr Christopher Hui, GBS, JP, Secretary for Financial Services and the Treasury of The Government of the Hong Kong Special Administrative Region as the officiating guest, and the celebration ceremony in the afternoon session was officiated by Ms Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry of The Government of the Hong Kong Special Administrative Region. Mr Ban Ki-moon, former Secretary-General of the United Nations supported the Forum by becoming the featured keynote speaker.
More than 800 senior executives joined the HKQAA 35th Anniversary Forum cum Celebration Ceremony. The Forum invited local and overseas political and business leaders, experts and academics to share their experiences and insights on sustainable finance, ESG and climate resilience strategies.
35 Years of Innovative Advancements, Shaping a Green and Low-carbon Future
"Over the past 35 years, the HKQAA has been a steadfast partner, providing critical quality assurance and helping to uphold rigorous standards for green and sustainable finance. Since the launch of the Government Green Bond Programme in 2019, the HKQAA has played a pivotal role by providing external reviews for each bond issuance, ensuring the credibility and integrity of these instruments. In addition, the HKQAA has introduced a number of certification schemes, further enhancing stakeholder confidence in green finance products. Their dedication to upholding high standards has been instrumental in positioning Hong Kong as a global leader in this space. Looking ahead, we will continue to count on the HKQAA's expertise as we strive to meet the evolving challenges of sustainable development," said Mr Christopher Hui, GBS, JP, Secretary for Financial Services and the Treasury in his opening remarks.
Ir C. S. Ho, Chairman of the HKQAA, said, "Looking ahead, HKQAA will remain committed to continuously innovating while rooting ourselves firmly in Hong Kong, serving the community, contributing to the nation, and bridging to the world. We will work hand in hand with various sectors to shape a green and sustainable future."
Former UN Secretary-General called for collaborative effort on climate resilience
Sustainable development has become a global topic of concern, receiving significant attention from both the business and financial sectors. Mr Ban Ki-moon, former Secretary-General of the United Nations, who played a crucial role in the ratification of the Paris Agreement on climate change and launched the United Nations Sustainable Development Goals during his tenure, supported the HKQAA 35th Anniversary Forum by becoming the featured keynote speaker. He said in his speech via video, "I'm pleased to address globally-engaged HKQAA Forum participants at a time of great importance for empowering the private and public sectors to accelerate action on the UN climate and sustainable development goals through cooperation and partnership." Mr Ban remarked that now more than ever, we need global solutions underpinned with cooperation and solidarity to empower the leaders and global citizens of both today and tomorrow to rise to the occasion and ensure a sustainable and resilient future.
The Forum invited local and overseas political and business leaders, experts and academics to share their experiences and insights on sustainable finance, ESG and climate resilience strategies. The league of prominent speakers included Mr Sheng Liurong, Chief Financial Officer, China Construction Bank Corporation; Mr Huang Jixian, Executive Vice President and Secretary General of China Certification & Accreditation Association; Dr Leng Bing, Member of International Sustainability Standards Board (ISSB); Ms Ma Wei, Deputy Secretary-General, Director of International Cooperation Department, China General Chamber of Commerce; Mr Michael Wen, Executive Vice President of Cathay United Bank; and Dr Nigel Croft, Chair of ISO Joint Technical Coordination Group for Management System Standards (2020 – 2023) and Member of ISO Strategic Advisory Group on ESG (2021 – 2023).
The event attracted more than 800 senior executives from government departments, regulatory organisations, Chinese and foreign banking and financial institutions, business associations, academic institutions and green groups.
Establishing strategic partnership to promote high-quality economic development in Fujian and Hong Kong
A memorandum of understanding was signed at the Forum by Mr P C Chan, Chief Executive Officer of HKQAA, and Ms Liu Zhengying, Member of Party Leadership Group of Fujian Provincial Administration for Market Regulation (Intellectual Property Office) and Director-General of Fujian Provincial Intellectual Property Development and Protection Centre. This memorandum aims to deepen cooperation in areas including intellectual property, carbon footprint, ESG, sustainable development and conformity assessment, so as to support enterprises going overseas, foster collaboration, and promote high-quality economic development in Fujian and Hong Kong.
Recognising units, enterprises and financial institutions that promote sustainable development
The presentation ceremony of the "Hong Kong Green and Sustainable Finance Awards 2024" was held on the event. The Awards aims to encourage organisations to promote green and sustainable finance, carbon neutrality, climate risk disclosure and ESG disclosure for the sustainable development of businesses and society, and recognise their efforts and contributions. This year, more than 70 units, corporate, banks and financial service institutions from Hong Kong, Mainland China and overseas were awarded. Three Mainland local governments, namely, Department of Finance of Guangdong Province, Department of Finance of Hainan Province and Shenzhen Finance Bureau, were recognised for the "Outstanding Award for Green and Sustainable Bond Issuer".
Connecting the ESG ecosystem, sharing practical experiences
As the pioneer in promoting social responsibility culture, HKQAA launched the "ESG Connect Program" to encourage different types of organisations to build an ESG ecosystem together. This initiative encourages participants to harness their strengths to contribute to the sustainable development of both the industry and the community, and provides support to social enterprises and startups.
Representatives of the Mentor Organisations of the HKQAA ESG Connect Program – Mr Joe Lok, Head of Business Training of Beijing Waterdrop Technology Group Co., Ltd.; Mr Cheng Ka Ho, General Manager of Business Development of Lee Kee Group; and Ms Joe Cheung, Senior Converation Advocacy Manager of the Ocean Park Hong Kong – shared and exchanged ESG experiences at the event. There was also a product exhibition on-site with a focus on sustainable development, showcasing products that incorporate sustainability concepts. All exhibitors were organisations participating in the ESG Connect program.
Experience Sharing on Sustainable Finance, ESG and Climate Resilience
China Construction Bank (Asia)
As the flagship of CCB Group's overseas business, China Construction Bank (Asia) ("CCB (Asia)") holds a variety of licenses and provides a wide array of banking services including retail banking services, commercial banking services, corporate banking services and treasury business etc., along with its industry-leading advantages in RMB services, FinTech, cross-border services and green finance. CCB (Asia) has been contributing to the Hong Kong economic and social development for decades, and is a witness and contributor of the financial industry in Hong Kong.
In response to the national and Hong Kong's "dual carbon" goals, CCB (Asia) continues to explore ways to enhance its capability for sustainable economic and social development by integrating green concepts into its development strategies, operational management and corporate culture. Leveraging its leading position in infrastructure financing, CCB (Asia) has increased credit lending in areas such as energy conservation and emission reduction, clean energy, clean transportation and pollution prevention. In recent years, CCB (Asia) has provided over HKD70 billion in Environmental, Social, and Governance (ESG) loans and has underwritten green bonds totaling more than HKD19 billion. CCB (Asia) has successfully arranged several landmark ESG loan transactions and received numerous market-recognized sustainable finance awards. CCB (Asia) has a professional green finance team to support corporate clients in achieving sustainable development transformations, striving to become a pioneer and leader in sustainable finance. To fulfill its corporate social responsibilities, a series of ESG-themed activities and seminars focusing on small and medium-sized enterprises were held to promote ESG concepts in youth education and inclusive finance to advocate sustainable development in Hong Kong.
In the face of the historic opportunities arising from the domestic and international "dual circulation" and the Guangdong-Hong Kong-Macao Greater Bay Area, CCB (Asia) will continue to leverage on the strong support from CCB Group and the unique geographical advantage. It will also actively seize development opportunities and create core capabilities to strengthen its international competitiveness and support Hong Kong to further enhance and elevate the status as an international financial center. Riding on its solid foundation, CCB (Asia) will adhere to the purpose of serving the country and benefiting the society, actively serving the national strategy, striving to support five priorities of technology finance, green finance, inclusive finance, pension finance, and digital finance, and promoting the integration of Hong Kong into the overall national development plan.
Cathay United Bank Co., Ltd. Hong Kong Branch
Cathay United Bank (CUB), a subsidiary of Cathay Financial Holdings, a leading financial institution in Taiwan, is the first signatory in Taiwan to the Equator Principles and the first bank in Taiwan to announce its voluntary compliance with the United Nations' Principles for Responsible Banking. In support of the United Nations' sustainable development goals, CUB has been actively involving in solar and wind power project financing. The bank aims to reduce credit facility for the coal industry to zero by the first quarter of 2027 and to achieve a green loan balance and a sustainability-linked loan balance of more than NT$100 billion by 2030. In terms of operations, the bank has also committed to using 100% renewable energy across all CUB locations worldwide to achieve net zero emissions by 2050.
CUB has long been a proponent of green finance, with the scale of its domestic and overseas credit and the amount of green deposits continuing to grow. This increase reflects the bank's expertise and dedication to promoting green finance, which has been well-recognized by its corporate customers. CUB's commitment to green finance is not only reflected in its investment and financing efforts but also in its active engagement works and support for corporations in completing their carbon disclosure. In 2022, CUB took the lead among financial institutions in Asia to join the "Commercial Bank Project" launched by CDP, an international carbon disclosure organization. It became the only non-governmental organization advisory expert to collaborate with CDP for its "SME Corporate Questionnaires" in Asia. This year, CUB also became the first financial institution to launch the innovative product "Sustainability-Linked Payroll" to promote green finance from a fresh perspective.
In 2022, Cathay United Bank Co., Ltd. Hong Kong Branch (CUBHK), one of CUB's branches, signed a MOU with Hong Kong Quality Assurance Agency (HKQAA) to jointly assist its customers in creating suitable ESG financing solutions to accelerate their low-carbon transition. In recent years, CUBHK has helped various customers in Hong Kong and the mainland develop customized sustainability-linked loan products. Hong Kong has now become CUB's second-largest sustainable loan market.
In 2024, CUBHK was recognized for the third consecutive year at the "Hong Kong Green and Sustainable Finance Awards" organized by HKQAA, winning six green finance-related awards. CUBHK will continue to facilitate customers in their low-carbon transition journey, driving the development of green finance in our society.
BEAM Society Limited
BEAM Society Limited (BSL) is a public and non-profit organisation based in Hong Kong, China. In 2010, BSL launched BEAM Plus, a comprehensive set of green building assessment tools that are highly regarded in the industry. BEAM Plus aims to promote green building practices and then achieve the"dual carbon"goals. Currently 7 BEAM Plus assessment tools are available, with over 2,500 registered projects and 1,800 certified. BSL is also dedicated to building capacity by providing training for green professionals. BSL now has more than 2,000 members and 7,000 BEAM Practitioners qualified to conduct BEAM Plus assessment.
Industrial Bank Hong Kong Branch
Industrial Bank is a pioneer of green finance in China. Relying on the professional green finance advantages of Headquarter, Industrial Bank Hong Kong Branch actively expands green finance business overseas, and builds a window for the world as well as an important platform for green finance development of Industrial Bank Group. By the end of June 2024, the outstanding green finance loans accounted for more than 25% of corporate finance loans of branch, and the number of green and sustainable bonds underwriting covered more than 50% of Chinese corporate issues in Hong Kong, effectively serving the green economic development of Hong Kong and the Belt and Road region.
Zhongyu Energy Holdings Limited
As a leading integrated energy service provider in China, Zhongyu Energy is committed to promoting sustainable development in the energy sector. The company regards the safety red line as its lifeline, continuously increasing investment in safe operations, improving the quality of safety personnel, and accelerating the pace of digital upgrades in project operations, achieving zero production safety accidents for consecutive years. At the same time, the company continuously improves its ESG system construction, flexibly setting ESG topics and commitment indicators based on market changes, effectively enhancing its international ESG rating, and continuously participating in green finance cooperation to contribute to sustainable social development.
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source: Hong Kong Quality Assurance Agency
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