The Hong Kong Green and Sustainable Finance Talent Development and Strategy

11 Training the Public Sector In June 2020, Singapore Management University (SMU), alongside the World Bank Group (WBG) and Infrastructure Asia (Infra Asia), developed a capacity building program for senior and mid-level regional government officials in the infrastructure sector. The program combines WBG’s experience on capacity building programs and expertise in private sector financing and structuring, and Infra Asia’s deep knowledge of the ASEAN region. SMU serves as the academic partner delivering the program, anchored by faculty from its schools of Business, Economics and Information Systems. The program aims to serve as an interactive and collaborative platform comprising real-life case studies, site visits and fireside chats with international thought leaders. Tertiary Education At the tertiary education level, Singapore’s universities are also showing rapid developments to better position students to capture the opportunities that will emerge from the green economy. In February 2022, the National University of Singapore (NUS) launched a Master of Science in Sustainable and Green Finance (MSc SGF) program, a collaboration between the NUS Business School and the University’s Sustainable and Green Finance Institute (SGFIN). 13 The SGFIN is a new institute for research and education in sustainable and green finance established by NUS and supported by MAS. SGFIN provides crucial support for the growing needs of regional and global investors, regional households and corporations, and policymakers. It aims to establish thought leadership, provide educational programs, and develop measurement tools to capture the sustainability and environmental impacts of various corporate and investment decisions. Takeaway: Hong Kong can reference Singapore’s approach in training the public sector and offering tertiary-level and professional programs. The important skills and competencies can also be linked to licensing requirements for certain professional positions. University programs represent a major educational commitment to green and sustainable finance as they lay the foundation for learners in understanding sustainability. However, it is important for academic education to conjoin with progressive professional training and certification. Turning Hong Kong into a successful green and sustainable finance hub will require large-scale systems change. Providing public officials in industrial and infrastructure sectors can maximize the impact of green finance in their respective portfolios. Whether it is for hospitals, schools, leisure and cultural centers or other public infrastructure, creating a shared understanding about the objectives and processes involved in scaling green finance can ease policy barriers and challenges on the ground, and help to expand the project pipeline. 13. Singapore Management University (2022). Growing Infrastructure Programme. Available at: https://exd.smu.edu.sg/public- programmes/growing-infrastructure-course. Accessed August 21, 2022. specific knowledge and skills as a guide to upskill, pivot into or progress in the relevant financial sector sustainability roles. Participants who enrol in IBF-accredited training programs can defray up to 90% of training expenses under the IBF-Standards Training Scheme grant. Singapore’s SF TSCs help structure the important skills and attributes needed to move forward on green and sustainable finance. This skill framework can be a reference point for training and education providers to develop training products that can address market needs and also qualify for grants under a government-sponsored training scheme.