International Experiences in Green Finance Development

36 International Experiences in Green Finance Development: Lessons for Hong Kong Type Organization Function Academics Singapore Green Finance Centre Established by Singapore Management University Sustainable Finance Institute Asia Independent institute established to catalyze ideas on Sustainable Finance at the policy level, as well as to propel action in support of those policy ideas in Asia, particularly in the Association of Southeast Asian Nations (ASEAN) SGFIN Established by the National University of Singapore NTU Centre of Sustainable Finance Innovation (CSFI) Established by Nanyang Technological University CSP Singapore Branch of Wealth Management Centre of the University of Zurich in Switzerland International organization UN Global Compact Network Singapore UN sustainable corporate initiative branch The Singapore government’s endeavor in green finance is currently remarkable and has satisfied the demand for green finance transition. The city-state’s ranking in the GFCI in recent years has risen and it has also made remarkable progress in green finance to become the Asia’s best-performing green financial center with its rising GGFI ranking. Led by the government though, Singapore is growing a blended financial system with PPP. The government works closely with the private sector, making the green finance system inclusive. Besides, the Singapore government has a clear positioning for the country’s regional influence. Due to its location in Southeast Asia, the city-state has taken on a leadership role in the development of ASEAN taxonomy and standards.