Sustainable Finance Specialists from 20 Asian Jurisdictions Gather at CASI Event in Hong Kong

HONG KONG, June 25, 2024 /PRNewswire/ -- The Capacity-building Alliance of Sustainable Investment (CASI) successfully held its second in-person event in HK from June 24-25, to be followed by a field trip to Huzhou, a green finance pilot city in China. The event, themed "Empowering Sustainability and Prosperity in Asia: Innovative Financial Solutions for Connectivity and Transition," provided a platform to share best practices and promote sustainable finance among EMDEs. Over 300 participants from more than twenty jurisdictions attended.

Ma Jun, Chairman of CASI and President of Institute of Finance Sustainability (IFS), emphasized the significant financing gap, amounting to trillions of dollars annually, for EMDEs' sustainability goals. He noted the lack of capacity to develop sustainable finance markets and originate bankable green projects as a key reason for this gap. CASI addresses this by offering learning programs, including in-person events, webinars, and e-learning programs, to build capacity in the Global South.

The event, co-hosted by the IFS, HKMA Infrastructure Finance Facilitation Office (IFFO), and the University of Hong Kong (HKU), featured senior representatives from central banks, financial institutions, corporates, NGOs, and thought leaders from the region. Discussions covered sustainable finance frameworks, disclosures, low-carbon transition, project origination, blended finance, biodiversity conservation, and blue finance.

Arthur Yuen, Deputy Chief Executive of HKMA, highlighted the growing interest in sustainable finance, emphasizing the need for innovative solutions for decarbonization and development. He underscored the public sector's role in creating an environment conducive to sustainable finance.

HKU is dedicated to nurturing the next generation of leaders in sustainable development. "We see CASI's event as an invaluable opportunity to bridge academia with action, inspiring students to take on the mantle of sustainable finance and address the talent gap in this critical field," said Richard Wong, Chair of Economics and Philip Wong Kennedy Wong Professor in Political Economy, HKU.

Following the workshops, CASI organizes a field trip to Huzhou to showcase innovative green finance solutions. Participants will visit local green banks, projects, and enterprises to observe how the local green financial system supports the green economy and low-GHG transition. Green loans in Huzhou have grown about 40% annually over the past seven years, highlighting the city's success in green finance.

The CASI e-learning platform was introduced at this event, with an aim to launch before end of this year. CASI is also planning to host two other major in-person events before end of this year, one for the Middle East and another for Africa.