The HKICPA strongly believes that this move by the Government of Hong Kong demonstrates its commitment to creating a sustainable and green economy. The issuance of green bonds is an essential step in facilitating the growth of green finance and fintech, which will drive investment opportunities for domestic and international investors.
The HKICPA also encourages the Government to continue advocating for green finance standards and taxonomies in the international arena. This will not only spur global collaboration on green finance but also promote investment opportunities that are both environmentally responsible and financially sound, thereby creating a virtuous cycle of growth.
To further support the development of green and innovative transportation, The HKICPA proposes that the Government should provide incentives for businesses that switch to electric vehicles by replacing their old commercial cars. Such incentives would encourage green technology adoption and help companies save on energy costs. In addition, the Euro VI emission standards should also be adopted for non-electric commercial vehicles. This would help reduce emissions from older vehicles, such as heavy trucks and vans, thereby providing a cleaner environment for everyone.