Hong Kong Launches Green & Sustainable Fintech Proof-of-Concept Funding Scheme to Boost Green Finance Solutions

The seminar on “Inexperienced Fintech: Catalyst for Scaling Sustainable Finance”, which centered on inexperienced finance know-how, was one of many key occasions of Hong Kong Inexperienced Week held by the Authorities earlier this 12 months. Through the occasion, the Inexperienced & Sustainable Finance Cross-Company Steering Group introduced the Prototype Hong Kong Inexperienced Fintech Map, offering one-stop data on the present standing of inexperienced fintech corporations in Hong Kong and associated providers, with a view to elevating the businesses’ profile. At present, over 50 enterprises are featured on the map.

To encourage the business to develop extra fintech tasks and promote their commercialisation, we at the moment are launching the model new Inexperienced & Sustainable Fintech Proof-of-Idea Funding Assist Scheme, which is modelled after the Fintech Proof-of-Idea Subsidy Scheme. Administered by Cyberport, this scheme will present early-stage funding to assist know-how corporations or analysis institutes that are registered and have commenced enterprise in Hong Kong, and conduct inexperienced fintech actions, to collaborate with native enterprises (similar to monetary establishments, listed corporations, carbon credit score entities and so on), which might profit from adopting the inexperienced and sustainable fintech options, to co-develop new tasks out there that may handle business ache factors. The scheme goals to facilitate the options involved to finish the commercialisation and proof-of-concept stage, in order to allow wider adoption of inexperienced and sustainable fintech options with potential within the enterprise panorama of Hong Kong.

The scheme covers 5 key areas which fulfil the purpose of integrating fintech and sustainable improvement. They’re (i) inexperienced and digital finance and funding; (ii) ESG (environmental, social and governance) disclosure, compliance and regulatory reporting; (iii) carbon buying and selling, analytics and know-how; (iv) ESG knowledge, intelligence and analytics; and (v) ESG/local weather danger modelling and evaluation. The utmost grant for every accepted mission is $150,000.

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Know-how and sustainable improvement are the main forces shaping the way forward for the monetary business. We’re assured that the brand new scheme can speed up the great improvement of inexperienced fintech in Hong Kong, elevating enterprises’ motivation in adopting inexperienced fintech, additional selling Hong Kong’s place as a inexperienced fintech hub in Asia. The applying interval of the scheme will run from June 28 to September 20 and Cyberport will launch software particulars shortly. I encourage eligible inexperienced fintech corporations and enterprises to hitch arms to take part within the scheme, make good use of the funding assist, and let your inexperienced and sustainable fintech options lead the inexperienced transformation of companies.