Hong Kong's tough COVID curbs hobble its green finance ambitions

Bankers and advisers said the risks of Beijing's "zero-COVID" policy, which has already caused a talent crunch in the Chinese territory, are growing as most other nations cut back coronavirus curbs.

Hong Kong has stepped up efforts in recent years to become a leader in Environmental and Social Governance , including creation of working groups with government officials and global firms to develop a local talent pool. The priority of evolving into a regional green and sustainable finance hub was declared last October by the HKMA's deputy chief executive, Edmond Lau.

Adding to the bad news was this week's delay of the launch of its inaugural retail green bond worth HK$6 billion because of the rapid spread of infections. "The demand for ESG talent is massive but one would look at Hong Kong thinking they can't travel and meet their family," a senior sustainability executive at a global asset manager told Reuters.The stringent curbs follow political ructions, including worsening Sino-U.S. ties, that prompted an earlier exodus of expatriates from Hong Kong.

In 2019, the wealthy city-state's central bank set up a $2-billion green investments program and encouraged asset managers to beef up local ESG teams.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong’s Covid-19 Measures Pressure Finance in Asian Financial HubHong Kong’s new measures to combat Covid-19 are unsettling bankers and investors, many of whom were already struggling to square business and family commitments with curtailed travel rate my boobs❤️ COVID 19 ? 🤔 Calm down Hong Kong..you haven't see Malaysian yet.. everyday 20k cases,no proper guidelines and still crowded places,no quarantine for close contact 😂
Source: WSJ - 🏆 98. / 63 Read more »

Tough COVID restrictions curb Hong Kong's ambition to become green investment hubHong Kong's ambition to become a hub for green and sustainable business is under threat as the city persists with stringent COVID-19 border controls, making it tougher for financial institutions to attract sector specialists. Hi, I am a structural engineer from Iran who have many ideas. I have summarized some of my ideas on my twitter(I suggest look at the idea of generating electricity by gravity). I want to work with companies and investors. Do you want to cooperate?
Source: ReutersScience - 🏆 559. / 51 Read more »

Hong Kong Filmart: Streaming Giants Expected to Drive Sales and Industry DiscussionWith Asian territories comprising the fastest-growing markets in the global streaming wars, local producers are finding their wares in hot demand: “The boundary between feature films and episodic series have blurred.”
Source: THR - 🏆 411. / 53 Read more »