Page 74 - 2023 White Paper on the Business Environment in China
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3 White Paper on the Business Environment in China
services. Networks and platforms like the AVPN family office hub with the support of the GBA. At
and Dream Impact will be crucial incubators for the same time, with its developed social enterprise
impact projects, where investors can engage in ecosystem, Hong Kong can act as a gateway for
fund matching and social ventures can make impact investing, connecting global investors
introductions to investors for their impactful with GBA impact projects. This connection allows
projects. Impact capital matching and social global investors and Asian philanthropists to play
ventures can offer opportunities to bridge impact a more active role in tackling societal problems
financing and partner with ventures, building with innovative business solutions, benefiting local
social capital over the long term. communities and stimulating the growth of the
local economy.
It is worth noting that impact investing in
mainland China is still in its early stages but The GBA has the potential to allocate resources
has tremendous potential, with a growing to sustainable projects and, with Hong Kong's
number of social investment alliances in the guidance, can direct international funding towards
GBA. For instance, the China Alliance of Social quality sustainable projects that contribute to
Value Investment (CASVI) is the first licensed China's carbon goals, and position the GBA as
international NPO specializing in building the a decarbonization leader in Asia. By connecting
ecosystem of sustainable finance in China. The the thriving and robust development of social
organization has formed partnerships with more innovation and impact investing, the GBA can
than 50 social entrepreneur foundations to foster make a significant impact on sustainability, with
industry exchange and accelerate social ventures. the public sector, private sector and civil society
working together to drive sustainability efforts in
GBA’s role and prospect their respective spheres.
With the growing number of impact investing The role of Green and Sus-
networks in the GBA region, investors have the tainable Finance in promot-
opportunity to do good for the community while ing ESG and supporting key
also generating financial returns. By transforming industries
their asset and fund portfolios into sustainable
and impactful ones, investors can leverage their Support of the Center for Green
footprint in the GBA53. and Sustainable Finance (GSF) in
the GBA
According to a survey by the Family Office
Association Hong Kong (FOAHK), 90% of As part of the overall plan for the GBA, Hong
respondents agreed that Hong Kong is the family Kong will leverage its status as an international
office hub in Asia, and 79% of those in the family financial center and increase investment in
office industry had allocated assets to ESG or building a green and sustainable financial center.
impact investing in 2021. The World Economic The green and sustainable financial center plays
Forum suggests that many multi-generational a crucial role in providing financial support for
family offices are now exploring impact investing low-carbon transition and ESG development. The
as a way to unite families around shared values demand for GSF products is on the rise, with the
and create positive legacies54. Hong Kong Monetary Authority estimating that the
amount of green and sustainable debt (including
Given the growing interest and demand for bonds and loans) issued in 2021 exceeded HK$50
impact investing from family offices, Hong Kong billion, four times the amount issued in 202055.
can continue to strengthen its role as a regional As an international financial center, Hong Kong
is quick to adapt to market changes in order to
53 Hubbis, https://www.hubbis.com/news/foahk- stay competitive in the GSF field. To keep pace
survey-family-offices-to-ramp-up-esg-allocations-
in-2022 55 HKSAR Government, https://www.info.gov.hk/
54 World Economic Forum, https://www3.wefo- gia/general/202202/23/P2022022200567.htm
rum.org/docs/WEFUSA_FamilyOfficePrimer_Report.pdf
74
services. Networks and platforms like the AVPN family office hub with the support of the GBA. At
and Dream Impact will be crucial incubators for the same time, with its developed social enterprise
impact projects, where investors can engage in ecosystem, Hong Kong can act as a gateway for
fund matching and social ventures can make impact investing, connecting global investors
introductions to investors for their impactful with GBA impact projects. This connection allows
projects. Impact capital matching and social global investors and Asian philanthropists to play
ventures can offer opportunities to bridge impact a more active role in tackling societal problems
financing and partner with ventures, building with innovative business solutions, benefiting local
social capital over the long term. communities and stimulating the growth of the
local economy.
It is worth noting that impact investing in
mainland China is still in its early stages but The GBA has the potential to allocate resources
has tremendous potential, with a growing to sustainable projects and, with Hong Kong's
number of social investment alliances in the guidance, can direct international funding towards
GBA. For instance, the China Alliance of Social quality sustainable projects that contribute to
Value Investment (CASVI) is the first licensed China's carbon goals, and position the GBA as
international NPO specializing in building the a decarbonization leader in Asia. By connecting
ecosystem of sustainable finance in China. The the thriving and robust development of social
organization has formed partnerships with more innovation and impact investing, the GBA can
than 50 social entrepreneur foundations to foster make a significant impact on sustainability, with
industry exchange and accelerate social ventures. the public sector, private sector and civil society
working together to drive sustainability efforts in
GBA’s role and prospect their respective spheres.
With the growing number of impact investing The role of Green and Sus-
networks in the GBA region, investors have the tainable Finance in promot-
opportunity to do good for the community while ing ESG and supporting key
also generating financial returns. By transforming industries
their asset and fund portfolios into sustainable
and impactful ones, investors can leverage their Support of the Center for Green
footprint in the GBA53. and Sustainable Finance (GSF) in
the GBA
According to a survey by the Family Office
Association Hong Kong (FOAHK), 90% of As part of the overall plan for the GBA, Hong
respondents agreed that Hong Kong is the family Kong will leverage its status as an international
office hub in Asia, and 79% of those in the family financial center and increase investment in
office industry had allocated assets to ESG or building a green and sustainable financial center.
impact investing in 2021. The World Economic The green and sustainable financial center plays
Forum suggests that many multi-generational a crucial role in providing financial support for
family offices are now exploring impact investing low-carbon transition and ESG development. The
as a way to unite families around shared values demand for GSF products is on the rise, with the
and create positive legacies54. Hong Kong Monetary Authority estimating that the
amount of green and sustainable debt (including
Given the growing interest and demand for bonds and loans) issued in 2021 exceeded HK$50
impact investing from family offices, Hong Kong billion, four times the amount issued in 202055.
can continue to strengthen its role as a regional As an international financial center, Hong Kong
is quick to adapt to market changes in order to
53 Hubbis, https://www.hubbis.com/news/foahk- stay competitive in the GSF field. To keep pace
survey-family-offices-to-ramp-up-esg-allocations-
in-2022 55 HKSAR Government, https://www.info.gov.hk/
54 World Economic Forum, https://www3.wefo- gia/general/202202/23/P2022022200567.htm
rum.org/docs/WEFUSA_FamilyOfficePrimer_Report.pdf
74
