Climate change, rising temperatures and the increasing frequency of extreme weather events are all drivers for the adoption of ambitious mitigation strategies by governments, organizations, businesses and individuals. Sustainable finance and environmental, social and governance (ESG) can address these issues.
Market demand for sustainable finance is rising while implementing ESG criteria, and verifying their performance, is now mandatory in many markets. Sustainable finance instruments provide a valuable way for companies to tackle climate change, achieve their net-zero targets and improve ESG performance.
What is sustainable finance?
Encompassing a wide array of financial services, sustainable finance integrates ESG criteria into business and investment decision-making. Its aim is to generate long-term benefits for both clients and society as a whole and covers a range of financial instruments, including:
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These tools enable companies to access funds specifically designated for driving a sustainable economy.
What about the HKSAR Climate Action Plan 2050?
Like other urban metropolis, Hong Kong faces the challenges of rising temperatures and the increasing frequency of extreme weather events. In response, the Hong Kong Special Administrative Region (HKSAR) Government has adopted a Climate Action Plan 2050. This addresses the root causes of rising temperatures by implementing measures such as net-zero electricity generation, energy-efficient buildings, sustainable transportation systems and waste reduction strategies.
The goal of the plan is to reduce Hong Kong's carbon emissions by 50% from their 2005 levels by 2035 and achieve carbon neutrality by 2050. Similar commitments have been made by China, which has pledged to reach its emissions peak by the end of this decade and achieve net-zero emissions by 2060.
How can SGS help?
Our services include:
- Independent secondary party opinion – providing investors and lenders with assurance regarding the instruments’ alignment with recognized principles, guidelines and market practices. This can help to attract more investors, increase market confidence and promote responsible and sustainable investment practices
- Post lending/issuance verification – providing issuers and borrowers with verification on alignment with standards or principles and evaluation of the transparency of proceeds/funds as well as environmental, social and governance performance outcomes
Why choose sustainable finance services from SGS?
We are an external reviewer recognized by the Hong Kong Monetary Authority (HKMA) for the Green and Sustainable Finance (GSF) Grant Scheme and a globally approved Climate Bond Initiative verifier. We are committed to providing bespoke solutions to satisfy the specific sustainable finance needs for financial institutions and borrowers/issuers, including secondary party opinions, post-lending/insurance verification, report assurance and much more.
To find out more about sustainable finance solutions that we work with, please contact us to find out more.
Units 303 & 305, 3/F, Building 22E,
Phase 3, Hong Kong Science Park,
Pak Shek Kok, New Territories,
Hong Kong, China