In response to the “White Paper on Green and Sustainable Banking” published by the Hong Kong Monetary Authority in June 2020, CCA co-organised a webinar with the Treasury Markets Association (TMA) on 29 October 2020. Entitled “How to turn banks green”, this webinar focused on ways to turn banks into green institutions from the policy level down to practical tools and actions. These cover low-carbon transition pathways, carbon accounting for financed emissions, science-based targets, internal carbon pricing, carbon neutrality demands in consumer banking, sustainable investment practices, green finance tools and more.

Mr John Sayer, Director of CCA, started the webinar with an overview of climate risk and its impact on financial institutions. He then elaborated on the business opportunities arising from climate change. He stressed that ‘green banks’ should stop financing sectors that are contributing to greenhouse gas emissions. Instead, they should direct their financing towards emissions reduction projects that contribute to their government’s zero carbon objective.

The sharing was taken further by Ir Albert Lai, Chief Executive Officer of CCA. He explained in detail the drivers of financed emissions measurement and introduced the various types of sustainable finance instruments. To conclude the webinar, Mr Lai shared CCA’s proprietary three-sided approach to green and sustainable banking — Carbon Accounting for Financed Emissions (CAFÉ) which emphasizes risk management, target setting and carbon pricing.

If you wish to acquire more information on green banking health check, or a sustainability roadmap for the banking industry, or to obtain the latest CCA insights on green finance and our support services, please contact us on info@carboncareasia.com.

CCA Director Mr John Sayer gave an overview on the impacts of climate risk on financial institutions and the opportunities arising from them.

Various solutions for banks to become green and sustainable were suggested by Ir Albert Lai, CEO of CCA.