The Hong Kong Monetary Authority (HKMA), has joined hands with multilateral organisations, 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 at the Asia Climate Investment Seminar today (11 November). 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 US$500 million in Asia. The partners emphasise 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.

Mr Howard Lee, Chief Executive Officer of the Exchange Fund Investment Office of the HKMA, said, “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.”

Ms 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 organisations to channel capital to bankable and impactful development projects.”

Mr Gregory Liu, Director General, Financial Institutions and Funds Clients Department, Global, of the AIIB, said, “Our 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.”

Ms Kim-See Lim, Regional Director for East Asia and the Pacific at IFC, said, “Climate change is the challenge of our 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 channelling 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.”

Ms Shami Nissan, Partner, Head of Sustainability at Actis, said, “With half the world's population, rapid industrialisation, 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.”