Hong Kong joins GFANZ’s APAC Network in global climate transition drive


The Glasgow Financial Alliance for Net Zero (GFANZ) is making significant strides into Asia with its newest member: the Hong Kong Chapter.

This global coalition of financial institutions, undeterred in its quest for climate transition, sees this expansion as an opportunity to further anchor its presence in the region.

This collaboration is strategic for GFANZ. The primary objective is to foster engagement with financial institutions across Greater China, aiding their journey towards net zero. By facilitating comprehensive transition planning and intensifying the scaling of transition finance, GFANZ seeks to make a tangible impact in the region’s climate goals.

GFANZ is a robust global alliance of financial bodies, GFANZ is steadfast in its commitment to the climate transition. It champions the cause of achieving a net zero global economy, rallying financial institutions to its banner.

The Hong Kong Chapter acts as an extension of GFANZ’s APAC Network, this chapter aims to bring together key financial stakeholders from the Greater China region. It stands alongside its Japanese counterpart, echoing the larger goal of a sustainable financial landscape.

The guidance of Eddie Yue, CEO of the Hong Kong Monetary Authority, and Dr Ma Jun, Chairman of the Hong Kong Green Finance Association, is invaluable. Their expertise promises to bridge stakeholders, pool resources, and synergise with local environmental initiatives.

Being home to several rapidly growing economies, this region’s alignment with climate goals could significantly sway global outcomes.

Mark Carney, GFANZ Co-Chair and UN Special Envoy for Climate Action and Finance, shared his insights: “Home to many of the world’s largest and fastest growing economies, the Asia-Pacific region is central to the world’s efforts to achieve a net zero global economy.” He added, “And those efforts rely on the availability of large-scale finance. The new Hong Kong Chapter will build on GFANZ’s ongoing work in APAC, creating tools and tailored guidance for local financial institutions to support their net zero transition.”

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