To promote Hong Kong's efforts in developing green technology for sustainable development as an international financial center, the School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School) convened today an industry roundtable event, entitled “Navigating the Convergence of Tech, Finance, and Sustainability in Establishing Hong Kong as an International Green Technology and Financial Center”. Bringing together leaders from the academia, industry and government, the roundtable addressed the significance of green technology in driving Hong Kong’s transition towards a green economy, and discussed the urgency and ways to foster green technology innovation and adoption and nurture green talent in order to bolster Hong Kong’s capabilities as an international financial center.
The roundtable’s expert panel, featuring representatives from the Financial Services Development Council, HKUST, GoImpact Capital Partners, Ernst & Young Advisory Services Limited, MioTech and the Fintech Association of Hong Kong, was attended by industry practitioners across the financial services, sustainability, technology and fintech sectors through a live broadcast. The discussion delved into the various impacts that technology can bring to the sustainability and financial services sectors, and Hong Kong’s strengths in both technology and finance that position it favorably within the Greater Bay Area and enhance collaboration with the international market. Notably, the panel emphasized in the roundtable that building a strong talent pool is critical for Hong Kong’s green transition and its efforts to revitalize its economy.
Echoing the government’s policy agenda of developing Hong Kong into an international green technology and green finance center, the roundtable provided a platform to converge perspectives across industry players and foster cross-sectoral collaboration to create a vibrant ecosystem for green technology and fintech development in Hong Kong.
Prof. Kar Yan TAM, Vice-President for Administration and Business of HKUST, said, "Technology is a powerful catalyst that can revolutionize the world of finance, propelling us towards a sustainable future. The advancement of green technology is imperative for Hong Kong as it seeks to enhance its competitiveness as an international financial center. To support this effort, HKUST is proud to serve as a trusted platform, fostering the sharing of expertise and collaboration between the public sector, private enterprises, and academia to explore the applications and expedite the innovation and adoption of technology in this domain.”
Ms. Helene LI, Co-Founder and CEO of GoImpact, said, “As a leading international financial center with a thriving tech ecosystem, Hong Kong is poised to become the nexus where green, fin and tech converge. Harnessing the collective power of cross-sector collaborations allows us to leverage Hong Kong's unparalleled resources to propel the global sustainability agenda and forge a greener, more resilient future.”
Mr. Jason TU, Founder and CEO of MioTech, said, “Hong Kong's advancements in climate and green fintech are setting a pioneering example in sustainable innovation, driving positive environmental impact while also fostering financial growth. As the leading climate and green fintech provider in Asia, MioTech reaffirms our commitment to technology developments in the city and a greener, more sustainable future for generations to come.”
Dr. King AU, Executive Director of Financial Services Development Council, said, “The confluence of green finance, and technology is where true innovation happens, creating unparalleled synergy and driving sustainable growth. Hong Kong's financial services industry stands at the forefront of this transformative journey, leveraging its robust infrastructure and global connectivity to support and scale groundbreaking green technologies. By combining our strengths in green finance and technology, we can unlock new opportunities and build a sustainable future for all.”
Mr. Chris BARFORD, Board Member of the FinTech Association of Hong Kong, said, “Hong Kong's strategic role as a super connector is increasingly vital, especially in harnessing China's prowess in electric vehicles and renewable energy. By bridging the gap between financial expertise and cutting-edge sustainable technologies from both China and locally-grown Green Tech startups, Hong Kong has the opportunity to swiftly pilot green finance solutions."
Mr. Jeff TANG, Partner, Market Development Leader of Consulting at Ernst & Young Advisory Services Limited, said, “The convergence of green technology and finance requires a transformative change in skillsets and mindsets. We anticipate structural changes within our workforce, including an increased focus on core skills and learning agility to complement the surge in innovative technology. All stakeholders - public, private and educational sectors, must reconsider the roles we play to collectively cultivate a robust talent marketplace. As for organizations, it’s time for us to engage in honest conversations on the evolution of jobs, pinpointing capability and mindset gaps, and support our workforce to navigate the complexities of change through a dynamic process of unlearning and relearning.”
As part of HKUST's commitment to driving sustainable development, the University has been actively collaborating with the government to develop practical tools that leverage technologies such as data science and analytics for industry’s use. This includes the greenhouse gas (GHG) emission calculation and estimation tools, co-developed with the Green and Sustainable Finance Cross-Agency Steering Group (CASG), which were designed to enable small and medium sized enterprises and financial institutions to manage their environmental footprint and facilitate their sustainability reporting.
Building on the success of this roundtable, HKUST Business School will host the inaugural Green Tech Summit in October 2024, in collaboration with the industry partners GoImpact and MioTech, and with the support from community partners including Financial Services Development Council, InvestHK and Cyberport. This high-level global event will encompass a range of activities, such as exhibitions, business-matching, keynotes, presentations and panel discussions, covering crucial themes such as AI, climate tech, clean energy, sustainable supply chain management, green investments, and green talent. The Summit will bring together key stakeholders from the green, technology, finance and policy sectors worldwide to drive synergies and collaborations that can accelerate the transition towards a more sustainable economy. More information about the Green Tech Summit will be announced in the coming months.
The roundtable featured esteemed speakers including Dr. King Au, Executive Director of Financial Services Development Council (first from right), Mr. Chris Barford, Board Member of the FinTech Association of Hong Kong (second from right), Ms. Helene Li, Co-Founder and CEO of GoImpact Capital Partners (third from right), Prof. Kar Yan Tam, Vice-President for Administration and Business of HKUST (fourth from right), Mr. Jeff Tang, Partner, Market Development Leader of Consulting at Ernst & Young Advisory Services Limited (third from left), and Mr. Jason Tu, Founder and CEO of MioTech (second from left). The discussion was moderated by Mr. Clarence T'ao, Co-Founder of GoImpact Capital Partners (first from left).
The roundtable was broadcasted live to engage industry participants in exploring ways to leverage green technology and green finance to strengthen Hong Kong's capabilities as a leading international financial center.