Hong Kong has issued US$22b in green bonds: report

Proceeds for the bonds have been allocated or earmarked for green projects.

Hong Kong has issued green bonds close to US$22b in value to fund various green projects in the city, the Green Bond Report 2023 revealed.

Notable issuances include the 1-year HK$800m tokenised green bond released on 16 February this year.

Hong Kong also issued the world’s largest green bond issuance in January 2023, with 8 tranches across three currencies: US dollar, Euro, and Chinese renminbi, for a total of around US$5.75b worth of green bonds.

The government extended its streak with another green bond issuance in June, releasing close to US$6b worth of green bonds, the report said.

ALSO READ: Vietnam’s 2050 energy transition plan sparks green lending surge

The proceeds raised through these have been fully allocated to or earmarked for green projects, the government said.

Projects include a district cooling system for Tung Chung New Town Extension (East), a three-dimensional air pollution monitoring network, the Kai Tak Sports Park, and the replacement of the storm-detecting weather radar at Tai Mo Shan.

Secretary for Financial Services & the Treasury Christopher Hui said that the green bond issuances demonstrates Hong Kong’s commitment to consolidate Hong Kong’s position as a regional and international green and sustainable finance hub.