With the national overall goal of "carbon peaking" and "carbon neutrality", the innovation and collaboration of green finance in the Guangdong-Hong Kong-Macao Greater Bay Area has been given a new historical mission. Relying on the huge potential of the national market, relying on its own industrial upgrading and financial industry Advantages, the Greater Bay Area is expected to become the backbone of the global green finance development.
The data shows that Guangdong's green finance is developing rapidly. In 2021, the green credit balance of major banking institutions will break through the trillion mark for the first time, with a year-on-year increase of 41%; the Guangzhou Carbon Exchange's carbon quota spot trading volume has accumulated 200 million tons, ranking first in the country.
In addition, green financial innovation projects such as the first carbon-neutral bond in the Guangdong-Hong Kong-Macao Greater Bay Area have been launched one after another, fully supporting the development of energy conservation and environmental protection, clean energy, and green infrastructure upgrades.
In this regard, Chen Qingyao, Vice President of HSBC Bank (China) Co., Ltd. and General Manager of the Greater Bay Area Office, said that as a leading international bank in the Guangdong-Hong Kong-Macao Greater Bay Area, HSBC has always regarded sustainable development as a strategic focus, and continuously launched innovative green Financial products and services to support enterprises in the Greater Bay Area to achieve low-carbon transformation.
In the future, HSBC will combine its global service experience and continue to explore and innovate in the field of green finance to provide green power for the development of the Greater Bay Area.
Promoting financial innovation to facilitate low-carbon transition
As a manufacturing base in China and around the world, the Guangdong-Hong Kong-Macao Greater Bay Area is home to 80% of the country's supply chain companies.
The sustainable development of supply chain industries in the Greater Bay Area is not only the key to achieving green development in the Greater Bay Area, but will also drive China's overall industrial upgrading and low-carbon transformation.
Chen Qingyao said: "In order to better support the implementation of the 'dual carbon' goal, HSBC has guided capital flows to low-carbon projects through financial instruments such as green bonds, green deposits and loans, and sustainable development-linked loans, contributing to the sustainable development of the Greater Bay Area. provide assistance.”
HSBC recently launched the market's first Greater Bay Area Sustainability Credit Fund, providing US$5 billion in financing support for companies in the region to promote low-carbon emission reductions in the next 18 months.
The credit fund will adopt the HSBC Group's green credit standards, and will focus on supporting the development of green industries such as new energy in the region and the low-carbon transformation of traditional industries, through financial solutions such as green loans and green trade financing, as well as exclusive approval channels, ESG consulting Training and other services to provide support for enterprises in the Greater Bay Area to achieve low-carbon emission reduction goals.
Strengthening Multi-Party Cooperation to Build a Green Bay Area
In the Greater Bay Area, years of industrial upgrading and transformation, accelerated digital transformation of enterprises, and continuous government investment in new infrastructure projects such as renewable energy, low-carbon transportation, and 5G have created favorable conditions for the green development of the region's economy. .
However, in addition to multi-channel financial support, enterprises still need more support in practicing sustainable development, especially in formulating unified industry standards.
Taking the electronic information industry, the core industry of the Greater Bay Area as an example, because the number of suppliers involved in the entire supply chain management is very large, and each region has different industry standards, each big brand also has its own supply chain manufacturers. Requirements, manufacturers often lack uniform standards and effective practical tools.
In order to help electronic information companies solve this pain point, HSBC China, in cooperation with the Social Responsibility Working Committee of China Electronics Industry Standardization Technology Association, launched the "Green Supply Chain Innovation Pioneer Project" in the Greater Bay Area to promote suppliers in the electronics industry to improve environmental compliance. Regulations, starting from the upstream and downstream ends of the supply chain, establishing a unified green benchmark, and promoting the sustainable development of the electronics industry.
Chen Qingyao said that as an important engine of China's future economic growth, the Guangdong-Hong Kong-Macao Greater Bay Area can play a leading role in promoting the realization of the "dual carbon" goal.
HSBC Group has always regarded the Guangdong-Hong Kong-Macao Greater Bay Area as one of the key areas for business expansion in China. In the future, it will continue to work closely with all parties in the region to explore innovative solutions for green finance and continue to promote the sustainable development of the Greater Bay Area.