HKSAR Government signs the Green Bond Pledge: First signatory from Asia
LONDON/HONG KONG: 06 May 2019: 11:00 BST: Climate Bonds Initiative is pleased to announce that the Government of the Hong Kong Special Administrative Region (the HKSAR Government) has become the first Asian signatory to the Green Bond Pledge, demonstrating Hong Kong’s commitment to incorporate low carbon, resilient and sustainable solutions into the planning and deployment of infrastructure projects, with the aim to reinforce the goals of the Paris Agreement.
Spokesperson of Environment Bureau of the HKSAR Government:
“The HKSAR Government is pleased to join the international community in making this Green Bond Pledge. Hong Kong’s Climate Action Plan 2030+ has set out our 2030 target, which is to reduce Hong Kong’s carbon intensity by between 65% and 70%, compared with the 2005 level. We are sparing no efforts to make this happen.”
Spokesperson of Financial Services and the Treasury Bureau of the HKSAR Government:
“The HKSAR Government aims to develop and firmly establish Hong Kong as a leading hub for green finance in the region. Committed to fostering a robust green bond market in Hong Kong, we welcome like-minded issuers to arrange financing for their green projects through our deep and liquid capital markets. Amongst other incentive measures to promote the development of green finance in Hong Kong, we have launched the Government Green Bond Programme to encourage more issuers to arrange financing for their green projects through capital markets in Hong Kong and grow the local green investor base. ”
Sean Kidney, CEO, Climate Bonds Initiative:
“We are very pleased that the HKSAR Government has joined the Green Bond Pledge. Hong Kong has been one of the pioneering cities in Asia to adopt and develop green finance. In 2018, the HKSAR Government announced its HKD100bn sovereign green bond programme which is one of the world’s largest, demonstrating its leadership and commitment to a low carbon economy.”
“We look to more financial institutions and cities in Asia and the Pacific to follow suit in signing the Green Bond Pledge and accelerating green and climate finance initiatives.”
Climate Bonds Contacts:
Head of Communications & Media
+44 (0)7506 270 943
General Manager China Office
+852 6431 1275
Notes for Journalists:
About the Green Bond Pledge: The Green Bond Pledge is a joint initiative developed by international climate finance and sustainability groups, including the Climate Bonds Initiative, Mission2020, CERES, CDP, Citizens' Climate Lobby, California Governor’s Office, California Treasurer’s Office, Global Optimism, NRDC and The Climate Group.
Launched by ex-UN climate-chief Christiana Figueres at the Climate Bonds Annual Conference in March 2018 the Green Bond Pledge is a simple declaration that calls on signatories to support long-term infrastructure and capital projects that address environmental impact and climate risk, and issue green bonds to finance low carbon transition.Signatories agree to support the rapid growth of a green bonds market consistent with global best practices and will issue bonds for infrastructure as green bonds whenever applicable.
The HKSAR Government is the first signatory from the Asian region. Issuer signatories include US State Treasurers of California, New Mexico and Rhode Island, Government of Mexico City, the Cities of Asheville and San Francisco, King County, San Francisco Public Utilities Commission. Supporter signatories include Australian pension fund LGS Super and Luxembourg Green Exchange.
The Pledge is open to issuers and supporters. By signing the Issuer Pledge, governments, international agencies and private sector companies agree that all infrastructure and capital projects will need to be climate resilient and where relevant, support the reduction of greenhouse gas emissions. For more information, please visit www.greenbondpledge.com
About Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. It undertakes advocacy and outreach to inform and stimulate green bond markets, provides policy models and government advice, international development programmes, market data and analysis and administers the Standards & Certification Scheme. For more information, please visit www.climatebonds.net.