Alliance for Green Commercial Banks launched in Hong Kong

November 10, 2020

HONG KONG - International Finance Corporation (IFC), a member of the World Bank Group, has signed a new partnership with the Hong Kong Monetary Authority (HKMA) to encourage commercial banks in Asia to adopt strategies and targets to become greener, the Hong Kong Special Administrative Region (HKSAR) government said.

The signing of the agreement makes the HKMA the first partner to work with IFC on the initiative to help develop green commercial banks and encourage more green finance in order to address climate change, the statement said.