Hong Kong's government has taken a significant step in the financial world by issuing 6 billion Hong Kong dollars (approximately $765 million) in digital green bonds. This innovative move introduces the world's first multi-currency digital bond offering, available in Hong Kong dollars, Renminbi, US dollars, and euros. Digital green bonds, or tokenised green bonds, are represented on blockchain technology, offering benefits like increased transparency, quicker transactions, and traceability.
Sunset at Dragon's Back hiking trail in Hong Kong. AI generated picture.
This initiative marks Hong Kong's second venture into digital green bonds, following a $102 million issuance earlier in 2023. Christopher Hui, Secretary for Financial Services and the Treasury, emphasised the government's commitment to supporting innovative bond issuances and green transformation. He highlighted this issuance's role in bolstering sustainable development awareness and reinforcing Hong Kong's position as a premier hub for green and sustainable finance.
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Issued under the Government Green Bond Programme, these bonds support projects across various eco-friendly sectors, including renewable energy, nature and biodiversity conservation, pollution mitigation, and clean transportation. Paul Chan, the Financial Secretary, praised the issuance for showcasing Hong Kong's capabilities in integrating green finance, bond markets, and fintech. He stressed the government's dedication to promoting fintech innovation and the use of new technologies to improve the financial sector's efficiency, transparency, and security.
Read more: How to use DGB Group's carbon footprint calculator on your journey to net zero
The worldwide effort to reduce carbon footprints highlights the vital role of nature-based solutions and the verified (voluntary) carbon market (VCM) in achieving significant reductions in carbon emissions. DGB Group is at the forefront of this evolution, providing premium carbon units (carbon credits) and green bonds to support this cause. DGB offers a pathway for companies, investors, and individuals to actively participate in environmental conservation via the carbon market. Our extensive selection of nature-inspired solutions enables you to contribute to reforestation projects, protect biodiversity, and empower local communities.
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