In response to the rising global demand for green and sustainable finance (GSF) talent, HKUST Business School has published the first in-depth study on the GSF talent landscape. The report, entitled The Hong Kong Green and Sustainable Finance Talent Development and Strategy, lays out a blueprint for the development of GSF talent in Hong Kong and provides recommendations to facilitate relevant training design and the expansion of the GSF talent pool. The research findings were disseminated to the public at a press conference in late December 2022.

As the first in a series of studies to help steer Hong Kong’s development into an international green finance hub, the Report discusses the roles of key stakeholders, desired qualifications and skillsets of the current GSF industry, and ways to develop more talent. Drawing from insights of senior executives in the field through interviews and an industry survey, the study explores the complex discourse about GSF, and attempts to provide policymakers, industry practitioners, employers, job seekers and educators with useful information on the skillsets and knowledge progression path required by the up-and-rising GSF industry.

To outline the way forward for Hong Kong to formulate appropriate talent development strategy, the Report examines GSF talent approaches in Singapore, the United Kingdom (UK) and the European Union (EU) for insights. Some of the best practices in these countries include the active role of UK chartership bodies in delivering GSF training, Singapore’s approach to upskilling its public officials in GSF, and the EU’s emphasis on educating its workforce on regulatory changes. The Report also delves into the opportunities and challenges posed by Hong Kong’s unique position, outlining the skills Hong Kong needs to forge ahead, the resources and training available, and long-term talent development approaches such as establishing a professional certification framework for GSF professionals.

Key recommendations to guide Hong Kong’s effort in GSF talent development include:

  • Develop a skills and competencies framework and utilize existing efforts offered by professional organizations and charterships;
  • Identify the role of scientists and environmental experts play in the knowledge-value chain surrounding GSF and encourage collaborations between scientists, researchers, academia and financial market participants and business decision-makers;
  • Leverage the expertise of universities to facilitate interdisciplinary training while balancing between academic education and professional training/certification.

For a complete list of the recommendations and related discussions, click here to view the full report.