HKMA and Multilateral Organisations Enhance Strategic Partnership for Climate Investment in Asia

The Hong Kong Monetary Authority (HKMA) has partnered with multilateral organizations, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and the International Finance Corporation (IFC), to advance sustainable finance in Asia. This collaboration, announced at the Asia Climate Investment Seminar on November 11, aims to address climate change by deploying at least US$500 million in investments targeting renewable energy, energy solutions, and sustainable transportation. The initiative seeks to accelerate Asia’s transition to a low-carbon economy, demonstrating that financial returns and sustainable development can go hand-in-hand. Key stakeholders emphasized the importance of collective action to overcome the region’s climate challenges, with a focus on achieving net zero emissions and reducing greenhouse gases.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241111-3/