HONG KONG SAR - Media OutReach Newswire - 21 December 2023 - Amid the worsening climate crisis and extreme weather phenomena, nations worldwide have been impacted, at varying degrees, by devastating natural disasters. Though a small city, Hong Kong must be a part of the global climate conversation. September's "once-in-a-century" rainstorm raised red flags: we must work closely with the global community in seizing fresh opportunities to combat climate change. The World Green Organisation's (WGO's) "ESG for Climate Actions International Conference 2023" invited global experts to engage in encompassing dialogue on green finance, low-carbon technology, climate policies and the opportunities and challenges of carbon markets. Taking place at Cyberport on 30 and 31 October, the WGO flagship event's fourth iteration marked a great leap forward in the global conversation on climate change, thanks to the support of dozens of policymakers, corporate giants, academics and sustainability experts. In an effort to realise the Sustainable Development Goals (SDGs) put forward by the United Nations in 2015 and to help accelerate the global shift to low-carbon economies, the WGO has kept pace with its progress, and is honoured to have received the support of its conference partners – the United Nations Economic and Social Commission for Asia (ESCAP), Cyberport, Hong Kong Exchanges and Clearing Limited (HKEX), the Financial Services Development Council and the IFRS Sustainability Alliance. We were privileged to have United Nations ESCAP Environment and Development Division Director Dr. Sangmin Nam, Under Secretary for Financial Services and the Treasury Mr. Joseph Chan, JP, Securities and Futures Commission Chairman Mr. Tim Lui, HKEX Head of Carbon and ESG Products Market Mr. Ken Chiu, Financial Services Development Council Vice Chairman Mr. Daniel Fung, Cyberport CEO Mr. Peter Yan, JP and local consul generals from Spain, Cambodia, Thailand and Laos officiate at the opening ceremony alongside WGO CEO Dr. William Yu and WGO President & ASEAN Economic Club Co-Chair Mr. Albert Oung. Comprising panel discussions and seminars, the conference examined the development of global carbon markets, sustainable development, ESG investment strategies, the application of low-carbon technology and more. Financial experts, economists and financial officials from the world over, including China, Southeast Asia, Europe, delivered unique insights as guest speakers and engaged with attendees, uniting stakeholders against the mammoth challenge, climate change. Hong Kong companies that played key roles in the discussions included Crystal International Group Limited, King's Flair, Sun Life Hong Kong Limited, the Asian Corporate Coalition for Climate Change, BOC Group Life Assurance Company Limited, CS Tech Solution Limited, Ex-0 Infinity International Co. Ltd, Global Leaders Corporation, the Greater Bay Area Sustainability Institute, Negawatt Utility Limited, Hewlett Packard, The Hong Kong and China Gas Company, Worldwide Envision Centre, BDO Hong Kong, Power Assets Holdings Limited (Hong Kong Electric), GuangDong JunPin Law Firm, The International Chamber of Sustainable Development, Eco Smart and Riskory Consultancy Limited, among others. Promoting green finance has dominated global discourse – particularly during a year plagued by record-breaking heatwaves worldwide. The speakers shared the consensus that accelerating the development of carbon markets was imperative: carbon markets have grown in popularity in recent years, presenting corporates with opportunities for green development, and playing a major role in the global transition towards low-carbon economies. As we set the wheels in motion, we must seize the generous opportunities for growth that accompany carbon neutrality targets. That includes proactively developing carbon markets and creating more carbon finance and climate-related products. Corporations worldwide must speed up the design and implementation of carbon management strategies. Complemented by ESG measures, such strategies should push corporations closer to their net-zero emissions goals by 2050, and, ultimately, realising the UN's vision. The Financial Services and the Treasury Bureau has been an avid supporter of the conference. In his speech, Under Secretary Joseph Chan noted that ESG has become the driving force in global green economies "As an international financial centre that enjoys the strong support of the Motherland and close connection with the world, Hong Kong is obligated to push for green finance. Following the success of the Bureau's fintech 'Proof-of-Concept' subsidy scheme, next year, the government will be launching another subsidy scheme for green finance technology. The latest Policy Address has also stated that Hong Kong will harness opportunities within the Greater Bay Area to reinforce engagement between the financial markets, and encourage the exploration of synergies between...