Could Hong Kong become an environmental role model for Asean countries? Global business leaders say yes, call on city to be green finance hub
- Business leaders, policymakers attend Asean Summit 2023, a one-day forum hosted by the Post, to discuss topics such as hitting Southeast Asia’s sustainability targets
- Panellists say Hong Kong could play a bigger role in bankrolling sustainability projects by acting as a green finance hub for Asean countries
Hong Kong could serve as a role model for Southeast Asia in terms of sustainability projects that cut emissions, such as the banking industry offering incentives to help companies meet decarbonisation goals, global business leaders have said.
Business leaders and policymakers attended the Asean Summit 2023, a one-day forum hosted by the Post, on Monday that included a panel discussion on helping ensure the region’s economies hit their sustainability targets.
Speakers on the panel said Hong Kong could play a bigger role in bankrolling sustainability projects by acting as a green finance hub for Southeast Asia.
According to the International Renewable Energy Agency, power consumption among Association of Southeast Asian Nations members is expected to increase 2.4 times by 2040, given their rapidly growing economies and populations.
The regional bloc also said it aimed to “raise the proportion of renewable energy in its energy mix to 23 per cent by 2025”. The proposal involved investments totalling an estimated US$290 billion.
Nine out of its 10 members have also committed to attaining net-zero emissions by 2050.
Monday’s panellists also discussed how Asean countries could narrow the gap between their sustainability ambitions and their development needs.
