On 4 March 2024, Hong Kong witnessed the strength of the CESGA as Friends of the Earth (HK), in collaboration with EFFAS and the HKU Business School ICUBE, hosted the inaugural EFFAS Asia Summit. This significant gathering drew over a hundred participants from various sectors, both physically and virtually, showcasing a collective commitment to advancing environmental, social, and governance (ESG) principles in finance.
One of the summit’s key highlights was the presence of over 1,300 graduates from the Certified Environment, Social and Governance Analysts (CESGA) program, underscoring the growing importance of sustainability in financial analysis and decision-making. The event not only provided a platform for recognizing the achievements of these graduates but also facilitated discussions on policy development and regulations for sustainability, marking the first-ever visit of the EFFAS Board delegation to Asia.
During her speech, Ms. Yan Mei Mei, Salina, JP, Permanent Secretary for Financial Services & the Treasury of the Government of Hong Kong SAR, emphasized the pivotal role of Hong Kong in directing capital towards sustainable projects in Asia and beyond. She commended EFFAS for initiating the Asia Summit and highlighted the CESGA Programme as a significant contributor to green and sustainable finance capacity building.
Dr. Jesús López Zaballos, Chairman of EFFAS, stressed the urgent need for collaborative action in addressing global sustainability challenges. He emphasized that sustainability transcends borders and industries, urging governments, businesses, and civil society to pioneer innovative solutions. The summit, according to Dr. Zaballos, served as a platform for knowledge-sharing and collaboration to shape a sustainable future.
Mr. Anthony Cheung, Vice-chairperson & Green Finance Convenor of Friends of the Earth (HK), underscored the importance of sustainability policies and regulatory measures in driving transformative change. He highlighted the role of such measures in ensuring responsible business practices and guiding investments that align with ESG principles, ultimately fostering a sustainable economy.
The CESGA program, established over a decade ago by EFFAS, was lauded for its role in cultivating green finance talents and promoting sustainable finance development. The CESGA Award Ceremony recognized outstanding individuals in the CESGA community, with two students receiving the CESGA Scholarship Award in partnership with Friends of the Earth (HK) and The Hong Kong and China Gas Company Limited (Towngas).
The summit’s plenary session, themed “Pioneering Sustainability Policy and Regulatory Development,” featured distinguished speakers discussing ongoing developments in global sustainability policy and regulatory frameworks. Topics included advancements by the International Sustainability Standards Board (ISSB) and various market perspectives on sustainable finance.
In his closing remarks, Mr. Plato Yip, Chairperson of Friends of the Earth (HK), expressed gratitude for the insights shared by EFFAS and EFRAG delegates, emphasizing the importance of policymakers in Hong Kong and Asia learning from Europe’s regulatory initiatives in sustainable finance.
The EFFAS Asia Summit not only showcased Europe’s leadership in sustainable finance but also emphasized the importance of collaboration and effective policies in nurturing green talent for a sustainable future. As efforts continue to unite globally for environmental and social progress, events like these serve as crucial catalysts for change, fostering a more sustainable and equitable world.
