Hong Kong is competing with many of its regional peers to develop itself into a green finance hub. But there is one thing that the city should first do to realise this ambition.
A rising number of Australian companies look set to turn to green financing to take advantage of a growing investor and bank willingness to offer such lending.
The city's regulator and central bank must introduce guidance and rules more aggressively if they want to show that Hong Kong is committed to green finance, say industry participants.
The territory desires to be at the centre of green financing, but shows scant care for the causes of climate change.
Hong Kong's seeming indifference to environmental, social and governance principles could rapidly shift to heavy engagement, courtesy of China's rising interest in green finance.
The nation committed to developing green finance during the G20 Leaders Summit, but needs to firmly set out its definition of the concept to gain international investor capital.