Climate change: BlackRock, HSBC, Hong Kong officials urge firms to seize ‘biggest investment opportunity out there’
- Hong Kong’s environment secretary calls on companies to step up investment in green finance, hydrogen, biofuels and low-carbon technology
- Hong Kong is poised to channel needed investments to sustainable projects in Asia, as well as the Belt and Road countries, HKMA CEO says
Businesses should step up their efforts to capture opportunities arising from the climate transition and leverage Hong Kong’s position as an international financing centre to fund such projects, according to the city’s environment secretary and other conference speakers.
“All these events sent a clear signal that extreme weather events are becoming the norm,” he said, adding the government has committed to invest US$30 billion over the next 15 to 20 years on climate mitigation and adaptation, after spending US$6 billion in the past decade.
Asset manager BlackRock sees the transition to net zero as “the single biggest investment opportunity out there over the next decade”, said Michael Dennis, the asset manager’s managing director and head of alternatives strategy and capital markets in Asia-Pacific.
