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Budget Speech

Green and Sustainable Finance

83. The development of green and sustainable finance in Hong Kong offers promising prospects.  By leveraging our advantages as an international financial centre, we can facilitate matching between international capital and quality green projects, contribute proactively to helping our country achieve its "3060 Target" in relation to carbon emission peak and carbon neutrality, as well as propelling Hong Kong towards our carbon neutrality target by 2050 and promoting green transformation of our economy.

84. Since the launch of the Government Green Bond Programme in 2018, a total of more than US$7 billion equivalent of green bonds targeting global institutional investors has been successfully issued.  Several important milestones have been achieved, including the issuance of a 30‑year US dollar‑denominated green bond and a 20‑year euro‑denominated green bond and, both of which are the first issuance among Asian governments, and have established an important reference benchmark for the thriving development of the bond market in Hong Kong.  The successful issuance of RMB green bonds by the Shenzhen Municipal Government in Hong Kong has set a leading example for GBA cities to make good use of the Hong Kong market for green financing.  It has also further strengthened Hong Kong's functions as an offshore RMB hub and a green financial centre.  This year, we will continue to issue green bonds totalling about US$4.5 billion or equivalent.

85. The Green and Sustainable Finance Grant Scheme launched last year has been well received by the industry.  Over 50 applications have been approved so far, covering various kinds of green and sustainable debt instruments.  Among the applications approved, many of them involved subsidies for covering the external review costs relating to green and sustainable loans.  To support enterprises in obtaining green financing, we will lower the minimum loan size from $200 million to $100 million in respect of applications for subsidies for covering external review costs under the scheme.



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