2025 HKGFA Annual Forum - Navigating Climate Finance and Geopolitics: Strategies for Transition

HONG KONG,Sept. 9, 2025/PRNewswire/ -- Hong Kong Green Finance Association ("HKGFA") hosted its Eighth Annual Forum today, under the theme"Navigating Climate Finance and Geopolitics: Strategies for Transition". The Forum marks the start of Hong Kong Green Week (8 to 12 September), the city's flagship sustainability event, coordinated by the Hong Kong Monetary Authority ("HKMA").

The 2025 HKGFA Annual Forum convened policymakers, regulators, and private sector leaders to advance dialogue on regional collaboration and innovation in green and sustainable finance. Around 1,500 participants fromHong Kong, mainlandChina,Asia, and beyond attended the hybrid event.

Across a series of insightful discussions and fireside chats, industry experts and sustainable finance thought leaders assessed the impact of higher tariffs and geopolitics on the global green economy and international trade. They discussedHong Kong'spivotal role in leadingAsia'sclimate transition and the opportunities for regional green cross-border transactions. Additionally, experts shared practical aspects on achieving a net-zero transition and the application of emerging technologies and AI to enable effective transition strategies.

The Annual Forum was officiated by senior government officials fromHong Kongand Mainland China, including the Honourable Paul Chan Mo-po, Financial Secretary of the Hong Kong SAR Government, Dr.Zhang Bei, Deputy Director-General of the Research Bureau of the People's Bank ofChina("PBC"), and Mr.Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, who opened the afternoon session highlightingHong Kong'sfour-pillar strategy, including promoting market development, fostering financial innovation, enhancing sustainability transparency, and nurturing talent and enhancing data, to forge a collaborative, resilient and sustainable path forward.

Financial Secretary Mr.Paul Chancommenced the forum's proceedings with opening remarks, in which he highlighted the Government's policies and strategic directions in green transformation.  He said that beyond fulfilling its domestic commitments on carbon neutrality by 2050,Hong Konghas much to offer the world as an international financial centre, such as in facilitating green and transition finance, participating in international standard settings, and mobilising more capital across the public and private sectors to support green transition.

Mr. Chan also said thatHong Kongis emerging as a green tech hub, actively attracting prime green enterprises from around the world. In the age of AI which has vast potential in powering green transition,Hong Konghas prioritised it as a core industry, and many AI solutions for decarbonisation can scale here.

Mr. Chan said,"While the world may be facing substantial geopolitical challenges,Hong Kongis fully committed to being a reliable partner in the global green transformation. In the space of sustainable finance, technology, talent and many other areas, we can work together to turn climate challenges into rewarding opportunities."

Dr.Ma Jun, Chairman and President of HKGFA, said,"Looking ahead, Hong Kong SAR and mainlandChinaare well-positioned to play a pivotal role in advancingAsia'sleadership in climate finance.Hong Konghas the capability and responsibility to serve as a regional platform for standard setting, policy dialogues, product innovation, and capacity building, especially for developing countries and emerging markets."

Dr Ma also announced the pilot soft launch of the HKGFA-CASI Certificate in Sustainable Finance, an online learning program that supportsHong Kong'smission to scale up capacity and talent in Sustainable Finance. Through this unique collaboration, students can access self-paced training courses, latest global and regional sustainable finance market developments.

In the morning fireside chat, Dr.Li Cheng, Professor of Political Science, Founding Director of the Centre on Contemporary China and the World, TheUniversity of Hong Kong, Dr.Zhang Bei, Deputy Director-General of the Research Bureau, The People's Bank ofChina("PBC"), and Dr. Erik Berglöf, Chief Economist, Asian Infrastructure Investment Bank ("AIIB"), discussed the opportunities for green trade and green finance cooperation inAsia, applications of the Multi-jurisdictional Common Ground Taxonomy (MCGT), and regional connectivity of the voluntary carbon markets.

On the four panel discussions, HKGFA's members and leading industry experts shared the following insights and practical considerations: 

• Recalibrating Pathways to Net Zero – What has changed?
  
  Despite headwinds of rising tariffs and global trade disruptions, momentum in investments for the energy transition remains strong. Panellists shared how issuers are navigating the labelling of transition-related activities and operationalising net-zero pathways, underscoring the need for regionally tailored approaches that consider local contexts and dynamics—particularly in Asia—where companies are adopting diverse strategies to meet net-zero objectives beyond 2050.

• Innovative Funding Mechanisms:
  
  The collaboration with multi-lateral development banks (MDB) insurers, private sector and philanthropic organisations (public, private, philanthropic partnerships) are essential to mobilising private investments forAsia'sclimate transition. However, these blended finance structures remain nascent due to knowledge gaps, expertise and bankable projects. Government support and industry-wide capacity building is necessary to translate discussions into action.

• Adapting to Shifting Green Supply Chains: Building Resilient Economies:
  
  The alignment ofHong Kong'ssustainability disclosure requirements with the IFRS ISSB S1 and S2, mandating climate-related disclosures and Scope 3 supply chain emissions from 2025, will drive corporates to map, disclose, and work with their suppliers to lower carbon emissions. Corporates continue to identify innovative solutions to achieve climate ambitions such as green steel, playing a critical role in decarbonising the building and transportation sectors. Additionally, taxonomies and sustainable finance guidelines (such as ICMA) help mitigate greenwashing, guiding investors to channel capital to activities and sectors with the highest impact.

• GenAI and Green Tech: Catalysing Enabling Transition Strategies:
  
  The panel emphasised a shift toward emerging technologies and AI solutions as vital enablers to facilitate decarbonisation and enhance climate resilience, embraced by corporates in climate risk management, investors in ESG due diligence, and banks in transition planning. Financial sector support in accelerating the adoption of innovative green technologies is critical to mobilising capital and supporting a just, energy-efficient transition.

Earlier this year, HKGFA launched the Transition Knowledge Repository Hub to support financial institutions and corporates in navigating the key components of a credible transition plan to enhance awareness and capacity. Continuing in its efforts to support the green and sustainable finance ecosystem, HKGFA launched two report previews at the Forum:

1)"Activating the Retrofitting Market inHong Kong", industry-led research on retrofitting and policy recommendations to incentivise decarbonisation of the built environment. The report discusses structural and financial challenges to upscaling retrofitting, reviews local and overseas policies, and provides key asks and recommendations to theHong Kongmarket.

and 2)"Mobilising Sustainable Finance to Halt and Reverse Nature Loss", exploring the transformative potential of sustainable finance in addressing biodiversity loss, emphasising the critical role of financial institutions in driving nature-positive investments with case studies inHong Kong, China, and Asian regions to illustrate how sustainable finance can bridge theUS$737 billionannual funding gap for biodiversity by mobilising private capital.

HKGFA is committed to global collaboration and stakeholder engagement, and was appointed the co-convenor ofHong Kong'sTNFD consultation group, leading market development and capacity building to unlock nature financing.

This year's HKGFA Annual Forum was sponsored by Bank ofChina(Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered, China CITIC Bank International, Moody's Ratings, Natixis Corporate& Investment Banking, Société Générale, and Sustainable Fitch.

About Hong Kong Green Finance Association

Founded inSeptember 2018, Hong Kong Green Finance Association (HKGFA) provides a unique platform that supports the development of green finance and sustainable investments inHong Kongand beyond. It aims to mobilise both public and private sector resources and talents in developing green finance policies, to promote green finance business and product innovation within financial institutions. HKGFA's main goal is to positionHong Kongas a leading international green tech and green finance hub by providing greater access and opportunities forHong Kong'sfinancial institutions and corporates to participate in green financing transactions locally, in mainlandChina, and in markets along the Belt& Road. This is in line with the global path to implementing the UN Sustainable Development Goals and the Paris Agreement.

HKGFA's key activities are organised through five working groups, namely Banking – Financing the Transition, Product Innovation and Solutions, Sustainability-related Disclosures, Policy and Standards, Greater Bay Area Green Finance Alliance, and Real Estate. 

Please visit https://www.hkgreenfinance.org/ for more information.

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SOURCE Hong Kong Green Finance Association