The Hong Kong Monetary Authority (HKMA), has joined hands with multilateral organizations, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and International Finance Corporation (IFC), a member of the World Bank Group, to announce a strategic partnership to enhance strategic partnership for climate investment in Asia.

IFC said in a statement on Monday that the partnership marks a significant step towards strengthening strategic cooperation in sustainable finance in Asia.

The strategic partnership serves as a call to action for all stakeholders to unite against climate change, with Actis GP LLP (Actis) being one of the General Partners supporting the initiative, aiming to deploy at least $500 million in Asia.

The partners emphasize the importance of a collaborative approach involving multiple partners and institutions to address sustainability challenges in the region.

They will focus on investments in sectors that contribute to achieving net zero emissions and reducing greenhouse gases in the region, including renewable energy infrastructure, energy solutions and sustainable transportation.

“As a leading green finance hub in Asia, Hong Kong has been facilitating a significant portion of the region’s international green and sustainable bonds in recent years,

“Through strategic partnerships, we aim to demonstrate that achieving both financial return and sustainable development in Asia is not only feasible but essential for our vision of progress and environmental stewardship,” said Howard Lee, Chief Executive Officer of the Exchange Fund Investment Office of the HKMA.

Suzanne Gaboury, Director General for Private Sector Operations of the ADB, said developing economies in Asia and the Pacific face significant shortfalls in climate investments needed to clear the path to green growth.

“As the climate bank for the region, ADB is scaling up its climate financing and collaborating with like-minded organizations to channel capital to bankable and impactful development projects,” she added.

Gregory Liu, Director General, Financial Institutions and Funds Clients Department, Global, of the AIIB, said their strategic partnership with the HKMA, ADB, and IFC reflects AIIB’s commitment to advancing climate-focused investments that drive sustainable growth in Asia.

“Together, we aim to accelerate Asia’s transition to a low-carbon economy, setting a robust foundation for impactful climate action and regional resilience,” he added.

Kim-See Lim, Regional Director for East Asia and the Pacific at IFC, said climate change is the challenge of their time, and the stakes are especially high in Asia, where the crisis poses major challenges to environmental stability, economic growth and human development.

“IFC is pleased to collaborate with HKMA, Actis, ADB and AIIB to drive meaningful change by channeling capital into climate projects in countries across the region that need it most, while helping to accelerate an inclusive transition to low-carbon, resilient growth,” she added.

Shami Nissan, Partner, Head of Sustainability at Actis, said with half the world’s population, rapid industrialization, carbon intensive grids and accounting for half of global emissions, Asia is absolutely vital to our ability to deliver a net zero future.

“We are delighted to be partnering with strategic investors to support this need,” she added.

The HKMA is Hong Kong’s central banking institution. Its main functions are maintaining currency stability; promoting the stability and integrity of the financial system; helping to maintain Hong Kong’s status as an international financial center, and managing the exchange fund.

Established in 1966 and owned by 69 members—49 from the region, ADB is a regional development bank aims to achieve sustainable Asia and the Pacific.

Began operations in Beijing in 2016, the AIIB is a multilateral development bank focusing on financing infrastructure in Asia.

Actis is a global investment management firm focused on sustainable infrastructure including sustainable energy solutions.

#ClimateInvestmentAsia #HKMAPartnership #SustainableFinanceAsia #GreenInfrastructure #NetZeroAsia #Ifvex