Hong Kong – Government launches Pilot Green and Sustainable Finance Capacity Building Support Scheme (with photos/video)

     The Government announced today (December 13) the launch of the three-year Pilot Green and Sustainable Finance Capacity Building Support Scheme to encourage local eligible practitioners and prospective practitioners to participate in training related to green and sustainable finance in response to the new trend of developing low‑carbon and sustainable economy.
 
     “In light of the efforts of our country and the rest of the world in promoting green and low-carbon transformation, there is accelerating demand for green finance. We are committed to developing Hong Kong into a regional hub for green and sustainable finance, and nurturing talent is a crucial task in supporting such development. I announced in the 2022-23 Budget that the Government would launch the Pilot Scheme and earmark $200 million to provide subsidies to eligible persons participating in the training, with a view to building up the local green and sustainable finance talent pool and thereby supporting the development of green and sustainable finance in Hong Kong,” the Financial Secretary, Mr Paul Chan, said.
 
     The Pilot Scheme is open for application by Hong Kong residents who are market practitioners and prospective practitioners of green and sustainable finance, namely students and graduates in relevant disciplines. After completing eligible programmes, applicants can apply for a subsidy of up to 80 per cent of the relevant fees (full-time student applicants can apply for a subsidy of up to 100 per cent of the relevant fees), subject to a ceiling of $10,000.
 
     Since this October, the Pilot Scheme has been accepting applications for registration as eligible programmes. Nineteen of them have been registered as eligible programmes, which are provided by the professional and continuing education schools of local universities, professional institutions, international training providers, etc, and the list of eligible programmes will continue to be updated. Details including the eligibility requirements, procedures for subsidy applications, and the list of eligible programmes are available on the Pilot Scheme’s website (www.greentalent.org.hk).
 
     The Pilot Scheme is administered by the Centre for Green and Sustainable Finance, a public-private collaboration platform launched under the Green and Sustainable Finance Cross-Agency Steering Group.
 
About the Steering Group
 
     Established in May 2020, the Steering Group is co-chaired by the Hong Kong Monetary Authority and the Securities and Futures Commission. Members include the Environment and Ecology Bureau, the Financial Services and the Treasury Bureau, the Hong Kong Exchanges and Clearing Limited, the Insurance Authority and the Mandatory Provident Fund Schemes Authority. The Steering Group aims to co-ordinate the management of climate and environmental risks to the financial sector, accelerate the growth of green and sustainable finance in Hong Kong and support the Government’s climate strategies.
 
About the Centre for Green and Sustainable Finance
 
     The Centre for Green and Sustainable Finance is a cross-sector platform launched by the Steering Group in July 2021. The Centre co-ordinates the efforts of financial regulators, relevant government agencies, industry stakeholders and academia in capacity building and improving data availability for the financial industry.