The 35th Anniversary Forum cum Celebration Ceremony
The Hong Kong Quality Assurance Agency (HKQAA) marked a significant milestone in its history by hosting the 35th Anniversary Forum cum Celebration Ceremony at the prestigious Ballroom, Level 3, JW Marriott Hotel Hong Kong. The event was a grand celebration of the agency’s three and a half decades of service to the quality assurance community in Hong Kong.
Keynote Speaker: Mr. Ban Ki-moon
The highlight of the ceremony was the keynote speech delivered by Mr. Ban Ki-moon, the former Secretary-General of the United Nations. Mr. Ban Ki-moon is a renowned diplomat and statesman who has played a pivotal role in shaping global policies and promoting international cooperation. Key takeaways from Mr. Ban Ki-moon’s speech:
- The importance of quality assurance in promoting sustainable development
- The need for international cooperation to address global challenges
- The role of quality assurance in building trust and confidence in institutions
- The use of ISO 14001 (Environmental Management System) to reduce environmental impact
- The implementation of ISO 9001 (Quality Management System) to improve product quality and customer satisfaction
- The adoption of ISO 45001 (Occupational Health and Safety Management System) to promote workplace safety and well-being
- Enhanced credibility and trust in the green finance market
- Improved transparency and accountability
- Increased confidence in the quality of green bonds
- Better alignment with international standards and best practices
- The agreement establishes a global stocktake process to assess collective progress towards achieving the agreement’s goals. It also sets a framework for countries to increase their ambition and submit new Nationally Determined Contributions (NDCs) every five years. The agreement includes a mechanism for countries to provide financial support to developing countries to help them adapt to the impacts of climate change. ## Climate Resilience and Sustainable Development*
- Climate resilience is essential for sustainable development because it allows communities to adapt to the impacts of climate change and maintain their economic and social stability.
Mr. Liurong has been instrumental in shaping China’s financial sector and has played a key role in the development of the country’s financial infrastructure.
The Power of Sustainable Finance
Sustainable finance is a rapidly growing field that seeks to align financial markets with environmental, social, and governance (ESG) considerations. The goal is to create a more resilient and sustainable financial system that supports long-term economic growth and environmental protection.
Key Principles of Sustainable Finance
- Environmental Considerations: Sustainable finance considers the environmental impact of investments and financial products. This includes assessing the carbon footprint of investments, promoting renewable energy, and supporting sustainable infrastructure projects. Social Considerations: Sustainable finance also considers the social impact of investments and financial products. This includes promoting financial inclusion, supporting small and medium-sized enterprises (SMEs), and addressing social inequality. Governance Considerations: Sustainable finance promotes good governance practices in financial institutions and companies.
The 2022 Global Green Finance Forum
The 2022 Global Green Finance Forum was a pivotal event that brought together over 800 senior executives from diverse backgrounds to discuss the future of green finance. The forum, held in Beijing, China, was a platform for industry leaders to share knowledge, experiences, and best practices in promoting sustainable financial practices.
Key Takeaways
- The forum focused on the intersection of green finance and climate change, highlighting the need for financial institutions to adopt environmentally friendly practices. Keynote speakers emphasized the importance of green finance in driving economic growth, improving environmental outcomes, and supporting sustainable development.
The Hong Kong Monetary Authority (HKMA) has announced that it has awarded 70 units, corporate, banks and financial service institutions from Hong Kong, Mainland China and overseas, with the prestigious Hong Kong Excellence in Financial Services Award.
The Hong Kong Excellence in Financial Services Award
The Hong Kong Excellence in Financial Services Award is a prestigious recognition of excellence in financial services in Hong Kong.
HKQAA also launched the “HKQAA Sustainability Awards” to recognize and celebrate the outstanding achievements of organisations that have made significant contributions to the development of sustainable practices in their respective industries. HKQAA’s ESG Connect Program is designed to foster collaboration and knowledge-sharing among participants. The program encourages participants to work together to address industry-wide challenges and develop innovative solutions to promote sustainable development. Through the program, participants can share their expertise, best practices, and experiences to help others improve their ESG performance.
Key Features of the ESG Connect Program
- Industry-wide collaboration: The program brings together organisations from various sectors to work together on common challenges and develop solutions that benefit the industry and the community. Knowledge-sharing: Participants can share their expertise, best practices, and experiences to help others improve their ESG performance. Innovation and creativity: The program encourages participants to develop innovative solutions to promote sustainable development. * Capacity building: The program provides opportunities for participants to develop their ESG skills and knowledge. ## Benefits of the ESG Connect Program**
Benefits of the ESG Connect Program
- Improved ESG performance: By sharing knowledge and best practices, participants can improve their ESG performance and contribute to the sustainable development of their industry and community.
The Rise of China Construction Bank (Asia)
China Construction Bank (Asia) has been a major player in the Asian banking industry for several years. Its success can be attributed to its strategic expansion and diversification of services. The bank has established a strong presence in various countries across Asia, including China, Hong Kong, and Southeast Asia.
Key Services Offered
- Retail banking services: China Construction Bank (Asia) provides a range of retail banking services, including personal loans, credit cards, and deposit accounts. Commercial banking services: The bank offers commercial banking services, including corporate loans, trade finance, and cash management. Corporate banking services: China Construction Bank (Asia) provides corporate banking services, including mergers and acquisitions, debt financing, and equity financing. ### Industry-Leading Advantages*
Industry-Leading Advantages
- RMB services: China Construction Bank (Asia) has a strong presence in RMB services, including RMB deposits, RMB loans, and RMB remittances. FinTech: The bank has a significant FinTech presence, including online banking, mobile banking, and digital payment systems. Cross-border services: China Construction Bank (Asia) offers cross-border services, including international trade finance, foreign exchange, and remittances. Green finance: The bank has a strong focus on green finance, including sustainable loans, green bonds, and environmental impact assessments.
Building on Strengths
CCB (Asia) has established itself as a leading player in the Asian financial market, thanks to the unwavering support of its parent company, CCB Group. This partnership has enabled the bank to tap into the vast resources and expertise of its parent, allowing it to expand its reach and capabilities in the region.
Key Benefits of the Partnership
- Enhanced access to global markets and resources
- Increased expertise and knowledge sharing
- Improved risk management and compliance
- Enhanced customer service and experience
Geographical Advantage
CCB (Asia) has a unique geographical advantage, with a presence in multiple countries across Asia.
Aiming for Sustainability
Cathay United Bank’s commitment to sustainability is evident in its ambitious goals. The bank’s strategy focuses on reducing its environmental impact and promoting eco-friendly practices. To achieve this, CUB has set a target to reduce its carbon footprint by 50% by 2030. Key initiatives:
- Investing in renewable energy sources
- Implementing energy-efficient technologies in its operations
- Promoting sustainable lending practices
- Providing green loans to support renewable energy projects
- Investing in green bonds and other green financial instruments
- Offering green deposits to investors
- Engaging in sustainable development projects and initiatives
- A green loan of 100 million yuan was provided to a renewable energy company to support the development of a wind farm
- The bank’s investments in green bonds helped to attract investment to a green project, resulting in the creation of 100 new jobs
- The bank’s green deposits attracted 500 million yuan in investment from environmentally conscious investors
- Complexity of operations: Energy production involves complex systems, equipment, and processes, which can lead to accidents and injuries. High-pressure environments: Energy production often takes place in high-pressure environments, such as oil rigs or nuclear power plants, where a single mistake can have catastrophic consequences. Exposure to hazardous materials: Energy production involves the handling of hazardous materials, such as chemicals, fuels, and radioactive substances, which can pose significant risks to workers and the environment. ### The Role of Safety in Energy Production**
- Preventing accidents: Safety measures can help prevent accidents and injuries, reducing the risk of harm to workers and the environment.
Hashtag: #HKQAA The issuer is solely responsible for the content of this announcement.
Green Loan Balance
Cathay United Bank has made significant progress in achieving its green loan balance goal. As of 2022, the bank’s green loan balance stood at NT$43.8 billion, exceeding its target of NT$40 billion. This achievement demonstrates the bank’s commitment to supporting environmentally friendly projects and reducing its carbon footprint.
Coal Industry Credit Facility Reduction
Cathay United Bank has also made efforts to reduce its credit facility for the coal industry. The bank aims to eliminate its coal industry credit facility by the first quarter of 2027.
The bank’s green financing initiatives have been recognized globally, with several international organizations and institutions acknowledging its efforts.
The Rise of Green Finance
Green finance has become a significant aspect of CUB’s business strategy, with the bank actively promoting sustainable development and environmental protection. The bank’s commitment to green finance is evident in its various initiatives, which aim to reduce the environmental impact of its operations and support the development of green industries. Key features of CUB’s green finance initiatives:
The Impact of Green Finance
CUB’s green finance initiatives have had a significant impact on the environment and the economy. By providing green loans to support renewable energy projects, the bank has helped to reduce carbon emissions and promote sustainable development. The bank’s investments in green bonds and other green financial instruments have also helped to attract investment to green projects and support the development of green industries. Examples of the impact of CUB’s green finance initiatives:
Global Recognition
CUB’s commitment to green finance has been recognized globally, with several international organizations and institutions acknowledging its efforts.
This partnership aims to support the bank’s commitment to sustainability and environmental responsibility.
The Partnership and Its Objectives
The partnership between CUBHK and HKQAA is built on a shared vision of promoting sustainable finance and reducing environmental impact. The MOU outlines the framework for collaboration, including the development of ESG (Environmental, Social, and Governance) financing solutions that cater to the needs of CUBHK’s customers.
BSL is dedicated to promoting the rights and welfare of the blind and visually impaired community in Hong Kong.
The Mission and Vision of BSL
BSL’s mission is to empower the blind and visually impaired community in Hong Kong to live independently and participate fully in society.
The branch has also been recognized as a leader in green finance by the Hong Kong Monetary Authority (HKMA) and the China Banking Regulatory Commission (CBRC).
The Rise of Green Finance in China
In recent years, China has witnessed a significant surge in the adoption of green finance, with the country’s financial institutions playing a crucial role in promoting sustainable development.
The Importance of Safety in the Energy Sector
The energy sector is one of the most hazardous industries, with numerous risks and challenges. According to the International Labour Organization (ILO), the energy sector is responsible for a significant number of work-related fatalities and injuries worldwide. The sector’s high-risk nature demands a strong emphasis on safety, which is reflected in Zhongyu Energy’s commitment to safety.
Key Factors Contributing to the High-Risk Nature of the Energy Sector
The Role of Safety in Energy Production
The Role of Quality Assurance in Sustainable Development
Mr. Ban Ki-moon emphasized the critical role of quality assurance in promoting sustainable development. He highlighted the importance of ensuring that products and services meet the highest standards of quality, safety, and environmental sustainability. Examples of quality assurance in sustainable development:
International Cooperation and Quality Assurance
Mr. Ban Ki-moon also stressed the need for international cooperation to address global challenges.
Green finance gains credibility through external reviews.
This has helped to ensure that the bonds meet the required standards, thereby supporting the growth of the green finance market in Hong Kong.
The Importance of External Reviews in Green Finance
External reviews are a crucial component of the green finance framework. By providing an independent assessment of the environmental, social, and governance (ESG) criteria, external reviewers help to ensure that green bonds meet the required standards. This is particularly important in the context of green finance, where the focus is on promoting sustainable development and reducing environmental impact. Key benefits of external reviews include:
HKQAA’s involvement in the external review process has been instrumental in promoting the growth of the green finance market in Hong Kong.
He was the first UN Secretary-General to have a personal connection to the issue.
The Paris Agreement: A Global Framework for Climate Action
The Paris Agreement, adopted in 2015, is an international accord that sets a global framework for addressing climate change. The agreement aims to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit it to 1.5°C. The agreement also sets a long-term goal of achieving net-zero greenhouse gas emissions by 2050.
Key Provisions of the Paris Agreement
Climate Resilience and Sustainable Development
Climate resilience and sustainable development are closely linked. Climate resilience refers to the ability of communities and ecosystems to withstand and recover from the impacts of climate change. Sustainable development, on the other hand, aims to meet the needs of the present without compromising the ability of future generations to meet their own needs.
