Hong Kong Begins Accepting Program Providers for Green & Sustainable Finance Capacity Building 3-Year Support Scheme, $25 Million Subsidies to Market & Prospective Practitioners
3rd November 2022 | Hong Kong
Hong Kong Green & Sustainable Finance Cross-Agency Steering Group has began accepting program providers applications for Hong Kong “Green & Sustainable Finance Capacity Building 3-Year Support Scheme”, with $25 million (HKD 200 million) of subsidies to market & prospective practitioners. Announcement: “The Scheme was announced by the Financial Secretary in the 2022-23 Budget. In view of the new trend of developing low-carbon and sustainable economy, the Government has earmarked $200 million for launching the three-year pilot Scheme to provide subsidies for the training and acquisition of relevant professional qualifications in sustainable finance as part of a collaborative effort to build capability for the industry. The Scheme is administered by the Centre for Green and Sustainable Finance, a public-private collaboration platform launched under the Steering Group.” The scheme had began accepting applications from programme providers. Further details are set out on the Scheme’s website at www.greentalent.org.hk.
“ Hong Kong Begins Accepting Program Providers for Green & Sustainable Finance Capacity Building 3-Year Support Scheme, $25 Million Subsidies to Market & Prospective Practitioners “
The Scheme is expected to be officially launched later this year. The eligibility requirements and procedures for subsidy application by individuals, the first batch of eligible programmes, as well as other details will be published then.
Pilot Green and Sustainable Finance Capacity Building Support Scheme
In recent years, green and sustainability issues have been gaining much attention in the international community. Hong Kong is also firmly committed to promoting green and sustainable finance (GSF) to address climate-related financial risks, and raise market awareness as well as participation. In order to strengthen Hong Kong market players’ capacity on GSF, there is a critical need to expand the talent pool and enhance the capacity building for practitioners as well as prospective practitioners.
As announced by the Financial Secretary in the 2022-23 Budget, the Pilot Green and Sustainable Finance Capacity Building Support Scheme (the Scheme) aims to support talent development in GSF by providing subsidies to market practitioners as well as prospective practitioners in taking up relevant training and acquiring relevant professional qualifications. The Scheme will run for a pilot period of three years and is administered by the Secretariat of the Centre for Green and Sustainable Finance.
Programmes must be registered under the Scheme as Eligible Programmes in order to be reimbursable under the Scheme.
Please refer to the Guide to Registration of Programmes for details.
Green and Sustainable Finance Cross-Agency Steering Group and the Centre for Green and Sustainable Finance
With a view to co-ordinating the management of climate and environmental risks to the financial sector, accelerating the growth of green and sustainable finance in Hong Kong and supporting the Government’s climate strategies, the Green and Sustainable Finance Cross-Agency Steering Group (CASG) was jointly initiated by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) and established in May 2020. Other members include the Environment and Ecology Bureau (ENB), the Financial Services and the Treasury Bureau (FSTB), Hong Kong Exchanges and Clearing Limited (HKEX), the Insurance Authority (IA) and the Mandatory Provident Fund Schemes Authority (MPFA).
In July 2021, the CASG launched the Centre for Green and Sustainable Finance (GSF Centre) as a cross-sector platform to coordinate the efforts of financial regulators, Government agencies, industry stakeholders and the academia in capacity building and policy development, and to serve as a repository for resources.
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