TREASURY CHIEF LAUDS ADB SUPPORT

Secretary for Financial Services & the Treasury Christopher Hui continued to attend the 55th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) in the Philippine capital of Manila.

At the governors' business session, Mr Hui noted that amid the global pandemic, the ADB had swiftly provided necessary financial and technical support to assist member economies to overcome challenges and help achieve the goal of sustainable growth in the region.

Mr Hui echoed the theme of the annual meeting, Positioning Climate Resilient Green Economy for the Post-COVID-19 World.

He said that pandemic aside, climate change is another major challenge to the world and Hong Kong is delighted to see many encouraging initiatives being pursued by the ADB to combat climate change, such as promoting low-carbon transition.

He shared with the session that Hong Kong is striving to reduce carbon emissions by 50% before 2035, and achieve carbon neutrality before 2050 under Hong Kong's Climate Action Plan 2050.

Hong Kong has established itself as a regional green finance hub. Mr Hui noted that the city would continue to capitalise on the enormous green finance opportunities to encourage more entities, including the ADB and member economies, to make use of Hong Kong's financial and professional services for green and sustainable investment.

Mr Hui also attended the governors' seminar themed Pathways to Sustainable Green Growth in the Time of COVID-19 Recovery and the governors' luncheon at the annual meeting today.

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