“One Earth Summit” 2025: Hong Kong and Its Role as an International Financial Center
In March this year, the “One Earth Summit” was held in Hong Kong. The event attracted more than 300 participants from around the globe and was hosted by the Institute of Sustainability and Technology, co-organized by the One Earth Alliance, and the Giving to Amplify Earth Action (GAEA) initiative launched by the World Economic Forum.
The forum’s theme was “Driving Systemic Change towards a Sustainable Future through Impact Investment and Technological Innovation”. In his speech, Paul Chan Mo-po, Financial Secretary of the Government of the Hong Kong Special Administrative Region, underlined that as an international financial center and a leader in green finance, Hong Kong could help bridge the funding gap for green projects. Hong Kong’s issuance of green bonds has ranked first in the Asian market for seven consecutive years, with a market share reaching approximately 45 percent last year. At the same time, Hong Kong is seeking innovative financing solutions, such as tokenized green bonds and infrastructure financing securitization, to attract new investors. Hong Kong is committed to achieving carbon neutrality before 2050, focusing on three major strategies: zero-carbon power generation, green buildings, and sustainable transportation, as well as waste reduction.
Paul Chan Mo-po: As an international financial center and a leader in green finance, Hong Kong can help bridge the funding gap for green projects
Furthermore, the region could help bridge the technology gap. “Hong Kong boasts a vibrant ecosystem of over 300 green tech start-ups based in our Science Park and Cyberport. Many of their innovative solutions, ranging from energy-efficient materials to carbon capture, EV infrastructure and others, are already capturing interest in overseas markets,” Paul Chan was quoted on the homepage of the Government of the Hong Kong Special Administrative Region. Global measures to tackle climate change would create new business opportunities in burgeoning markets for green products and services. In this context, he announced the establishment of a GreenTech Hub, “which will accommodate 200 technology firms and serve as a nexus for public-private partnerships and international collaboration, with hopes that more private capital will drive green technology development and build a prosperous ecosystem”. Additionally, artificial intelligence would have widespread applications in sustainable development, emphasizing the government’s recognition of the significant potential of incorporating AI into the green ecosystem, designating it as a core industry.
According to Paul Chan, Hong Kong can also help bridge the action gap. “Despite setbacks in climate initiatives elsewhere in the world, Hong Kong remains steadfast in its commitment to regional and international collaboration for concrete and credible climate action,” he was cited on the Hong Kong Government’s homepage. “We are dedicated to sharing best practices, technologies and resources with our partners. By taking part in global climate initiatives, and hosting fora like this one, we are determined to help shape the thought leadership necessary for advancing innovative solutions to our shared challenges.”
Professor Poman Lo, Chair of One Earth Summit Board of Advisory and Founder of the Institute of Sustainability and Technology remarked in her welcoming speech, that Asia could play a “pivotal role in leading the global net zero transition. One Earth Summit is part of the major transformation underway to bring Hong Kong closer to our ambition of being an international hub for sustainable finance and green innovation.” Additionally, Rob Van Riet, Senior Special Adviser to the Managing Board, World Economic Forum, and Amy Lo, Chairman of UBS Global Wealth Management Asia, Head and Chief Executive, UBS Hong Kong, also delivered speeches on the future of sustainable technology and finance before the official start of the forum.
(Published in GLOBAL RECYCLING Magazine 2/2025, Page 5, Photos: Institute of Sustainability and Technology, Hong Kong)
