9 in 10 GBA companies see Hong Kong as a key sustainable development facilitator
99% of Mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services
99% of mainland businesses committed to sustainable investment choose Hong Kong as a source for related professional services, according to a joint report by the Hong Kong Trade Development Council (HKTDC) and the Association of Chartered Certified Accountants (ACCA).
The report, which came as part of Seizing Opportunities in China’s Sustainable Investment report, said that the city has long functioned as a key facilitator for mainland businesses keen to enhance their sustainability credentials. This has partly stemmed from its legacy role as a conduit for international capital investments to flow into mainland China (bringing-in strategy), as well as its preeminent contribution to helping manage mainland China’s outbound investment portfolio (going-global strategy) – about two-thirds of such capital is funnelled through
Hong Kong.
90% of companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) acknowledge Hong Kong as a strong facilitator for sustainable development, citing its strengths in a wide range of green applications and financial services. This is largely attributed to the city’s service providers maintaining international standards and understanding the mainland’s sustainability needs.
Meanwhile, 82% of Mainland businesses cited cost pressures as a challenge, slowing action rate on agreed measures. There was also uncertainty over how best to access these channels. Moreover, awareness is still relatively low, with some 47%-56% indicating a lack of familiarity.
Regardless, 70% said they were considering using a green financing channel.