The Hong Kong Special Administrative Region Government released today (September 13) the Green Bond Report 2024, which sets out, among others, the allocation of the proceeds raised from green bond issuances and the expected environmental benefits of the projects financed. The Government has thus far issued green bonds totaling close to an equivalent of HK$220 billion, funding various green projects in Hong Kong and providing important benchmarks for potential issuers.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "The Green Bond Report 2024 provides comprehensive information on the green projects funded by the Government Sustainable Bond Programme, demonstrating to investors the actual contributions brought by their investments in green bonds to sustainable development. These include, for example, alleviating the risk of flooding by adapting to climate change, and including environmentally friendly features in green buildings. Public awareness of the development of green finance is also enhanced.
"We will continue to, through such measures as integrating green finance with fintech and providing a transparent and well-defined pathway on sustainability reporting for businesses in Hong Kong, consolidate Hong Kong's position as a regional and international green and sustainable finance hub, and drive and support enterprises in green transformation."
The proceeds raised by the Government through issuances of green bonds have been fully allocated or earmarked for green projects, including the North East New Territories Sewerage System Upgrade, Redevelopment of Prince of Wales Hospital, Phase 2 (Stage 1), Yuen Long Barrage Scheme, and Improvement of Yuen Long Town Nullah (Town Centre Section).
Since the inaugural green bond issuance in 2019, the Government has been providing information on the allocation of the green bond proceeds through a Green Bond Report released on an annual basis, with an independent and qualified third party engaged to assure the contents of the Report. The Green Bond Report 2024 is the Government's fifth Green Bond Report.
The Green Bond Report 2024 has been uploaded to the Government Bonds website at www.hkgb.gov.hk/en/greenbond/greenbondreport.html.
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