HKMA and partners inject US$500m for sustainable finance investments in Asia
The partners will focus on renewable energy infrastructure, energy solutions, and sustainable transportation.
The Hong Kong Monetary Authority (HKMA) has partnered with multilateral organisations to promote sustainable finance in Asia.
The organisations include the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and International Finance Corporation (IFC), a member of the World Bank Group.
The partners, which also include Actis, will inject at least $677m (US$500m) to support the initiative.
The fund will be used to invest in sectors that contribute to achieving net zero emissions and reducing greenhouse gases in the region, such as renewable energy infrastructure, energy solutions, and sustainable transportation.
“As a leading green finance hub in Asia, Hong Kong has been facilitating a significant portion of the region’s international green and sustainable bonds in recent years. Through strategic partnerships, we aim to demonstrate that achieving both financial return and sustainable development in Asia is not only feasible but essential for our vision of progress and environmental stewardship,” Howard Lee, CEO of the Exchange Fund Investment Office of the HKMA said.