Hong Kong retail investors could mobilise US$18 billion for climate action by 2030: Standard Chartered
- The bank’s climate change investment report was based on a survey of 1,800 respondents in 10 markets across Asia, Africa and the Middle East
- The report identified the potential for US$3.4 trillion in investments globally towards climate mitigation and adaptation by the end of the decade
Hong Kong’s retail investors could mobilise US$18 billion in capital towards investments in climate change by 2030, according to Standard Chartered’s latest sustainable banking report released on Monday.
The report, commissioned by Standard Chartered and prepared by PwC Singapore, identified the potential for US$3.4 trillion in investments globally towards climate mitigation and adaptation by the end of the decade, based on a survey of 1,800 respondents in 10 markets across Asia, Africa and the Middle East. This included investors in mainland China, Hong Kong, Taiwan, South Korea, Singapore, Malaysia, India and the United Arab Emirates.
In Hong Kong, the survey showed that 91 per cent of investors are interested in climate investing, and 81 per cent of them wanted to increase capital flows towards climate, according to the report.
“As an international financial centre, Hong Kong can connect capital flows to develop innovative wealth management solutions, addressing the interest from investors in climate investing,” said Alson Ho, head of wealth management at Standard Chartered, Hong Kong in a statement accompanying the report.
“With the enormous green finance opportunities presented by the Greater Bay Area, we would further enrich the related thematic products to match both local and cross-boundary clients’ investment interest, further strengthening Hong Kong’s position as a green financial hub in Asia.”