Alan To, chief executive officer of Climate Finance Asia, shares how his weekend activities of urban farming and organising community events translates into advocating for a just transition.
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‘Don’t just sit in the boardroom’: Hong Kong climate finance chief calls on C-suite leaders to connect with nature
Interviewed by Samantha Ho of Eco Business.
When one thinks of metropolitan Hong Kong, farmers do not typically come to mind. Yet there are many farms in the New Territories surrounding Alan To’s Aromafunapy site which have seen their harvests decimated by climate change.
“Many did not have any yield last year because of extreme weather,” said To, a licensed aromatherapist who co-founded the social enterprise that runs an organic farm and organises aromatherapy workshops.
To also said this first-hand experience with the impacts of climate change gives a stronger sense of purpose and urgency to his day job as chief executive officer of Climate Finance Asia. The sustainable finance consultancy serves as secretariat to the Just Transition Working Group, an alliance of 15 global and regional banks, philanthropies and non-profits launched last October.
The group recently published the world’s first Facility-level Just Transition Guidelines for Banks to help banks develop more equitable transition plans for phasing out coal-fired plants.
According to To, who was recognised in this year’s Sustainability Leadership A-List, Asia’s major banks are the main financiers of energy transition projects in the region. However, many have yet to incorporate elements of social equity into their transition finance plans.
“A just transition requires banks, borrowers and even third parties to consider the greater impact of these projects on the communities whose economies and livelihoods depend on the operations of existing facilities,” he said.
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