Amid ongoing efforts to tackle Covid-19, the HKMA has put climate change, green banking and sustainability high on its agenda.
The need for such initiatives is pressing. “Market estimates suggest that $66 trillion of investment over the next three decades would be required in Asia to achieve the Paris climate target of limiting global warming to 1.5 degrees. The capital injections required for Asia are substantially higher than those necessary for any other region,” Eddie Yue, the HKMA’s chief executive, told FinanceAsia.
The OECD, for example, estimates that if immediate action is not taken, over $35 trillion of urban assets will be...
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