MUFG N0W (Net Zero World) recently returned to Hong Kong amidst an intensifying climate emergency and as the city accelerates its development as a green finance hub and connector to major growth platforms like the Belt and Road Initiative.
In her keynote remarks, Christine Kung, Head of International Affairs and Sustainable Finance, Securities and Futures Commission (SFC), reiterated Hong Kong’s commitment towards establishing disclosure standards in support of the business community’s sustainability efforts: “Getting disclosure right is essential to unlock tremendous investment and financing opportunities which helps Mainland China and Asia Pacific jurisdictions in transitioning to low carbon economies.
“Hong Kong, which is taking active steps to adopt the IFRS Sustainability Disclosure Standards, supports the formulation and disclosure of credible transition plans,” she added.
“Hong Kong, which is taking active steps to adopt the IFRS Sustainability Disclosure Standards, supports the formulation and disclosure of credible transition plans,” she added.
Colin Chen, MUFG’s Head of ESG Finance for APAC, said that Hong Kong is one of the top markets for the bank’s sustainable finance business in terms of deal count. It also contributed close to 50% of MUFG’s sustainable finance volume in the region for FY2023.
The bank has also played leading roles in landmark ESG-themed transactions emerging from Hong Kong. It was mandated lead arranger and bookrunner as well as sustainability-linked loan (SLL) coordinator for the recent equivalent dual-currency club SLL for Dairy Farm Company, a subsidiary of Jardine Matheson.
“Although prevailing economic conditions and interest rate environment might have impacted regional sustainable debt markets as a whole, in Hong Kong we continue to see an open-mindedness from companies towards exploring new products and solutions in support of their green objectives,” he said.
The bank has also played leading roles in landmark ESG-themed transactions emerging from Hong Kong. It was mandated lead arranger and bookrunner as well as sustainability-linked loan (SLL) coordinator for the recent equivalent dual-currency club SLL for Dairy Farm Company, a subsidiary of Jardine Matheson.
“Although prevailing economic conditions and interest rate environment might have impacted regional sustainable debt markets as a whole, in Hong Kong we continue to see an open-mindedness from companies towards exploring new products and solutions in support of their green objectives,” he said.
This year’s event – MUFG’s 2nd in Hong Kong and its 10th across the region – focuses on the city’s role specifically in supporting sustainability investments in the Greater Bay Area and beyond. Drawing over 130 participants, the event saw leading Hong Kong corporates in attendance alongside senior representatives from statutory and regulatory bodies including the SFC, Hong Kong Quality Assurance Agency (HKQAA) and Airport Authority Hong Kong.
