(9 November 2020) The Hong Kong Association of Banks (HKAB) welcomes the signing of a partnership agreement between the Hong Kong Monetary Authority (HKMA) and the International Finance Corporation (IFC) on the Alliance for Green Commercial Banks (the Alliance). The partnership supports the transformation of financial institutions into green banks, in a bid to jointly combat global climate change. The Alliance serves as a peer-to-peer learning platform for commercial banks to acquire knowledge, tools, and business information. This will help institutions transform into credible green banks that are able to launch green financial products and services, thereby promoting the development of green commercial banks in global financial markets.

The HKAB will join hands with the HKMA and relevant stakeholders to promote the development of green finance in Hong Kong. The HKAB encourages member banks to participate proactively and make efforts to combat climate change.

The Hong Kong Association of Banks

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