International Experiences in Green Finance Development

70 International Experiences in Green Finance Development: Lessons for Hong Kong Table 14: Some of the Key Stakeholders in Shenzhen’s Green Finance Ecosystem Type Organization Function Government Shenzhen Municipal People’s Government The functions of the Shenzhen Municipal People’s Government in green finance include setting policy and regulation, ensuring financial regulation, promoting green investment and fostering collaboration and cooperation Shenzhen Local Financial Supervision Bureau The Bureau is responsible for regulating and supervising financial institutions and activities related to green finance in Shenzhen. This includes ensuring compliance with environmental and financial regulations, which helps maintain the integrity and stability of the green finance sector. It participates in the formulation of policies and guidelines related to green finance. These policies may involve setting standards, disclosure requirements, and incentives to encourage green investment and sustainable financial practices. Qianhai Shenzhen- Hong Kong Modern Service Industry Cooperation Zone Administration The Administration supports and encourages businesses and financial institutions within the cooperation zone to invest in green and sustainable development projects to reduce environmental risks and promote sustainable growth. Financial institution Shenzhen Emissions Exchange The Exchange is responsible for operating the carbon market and allowing businesses to buy and sell carbon emission rights. This helps control carbon emissions, encourages greenhouse gas reduction, and promotes a low-carbon economy.