Hong Kong-based financial expert Grace Hui said that the Macau SAR has the potential to develop a green bond market by focusing on a niche market related to raising money for the adaptation process to the impact of climate change, namely the rising sea levels.
“You can have a very niche sustainable finance market,” said Ms Hui, founder and CEO of Net Zero Asia Limited, at the inaugural instalment of the “Sustainable Business Series” held on Saturday by the University of Saint Joseph’s Faculty of Business and Law.
Ms Hui, who previously held the position of Chief Operating Officer in the listing division at the Hong Kong Stock Exchanges and Clearing Limited, suggested that Macau could consider becoming an adaptation finance hub by focusing on raising money for adaptation to rising sea levels and the impact of climate change. “If you want to build a sustainable finance market, why compete with Hong Kong or Singapore?” Grace Hui stressed while making the case for a niche market approach.
Macau’s bond market has been developing in recent years, with the former Chairman of the China Security Regulatory Commission, Xiao Gang, speaking highly of the expansion of the city’s financial market.
In her talk on “Trends of Sustainable Finance in the Greater Bay Area,” Grace Hui addressed the potential for internationally recognized green bond institutes in Hong Kong to support Macau in developing special financial products and services such as leasing, and a green finance platform for Sino-Lusophone countries’ financial services platform.
The expert emphasised that the financial sector plays an essential role in the decarbonisation of society, noting that the Outline for the Development Plan for the Guangdong – Hong Kong – Macau Greater Bay Area is a golden opportunity for the development of sustainable finance.