Speakers had attended the UN Climate Change Conference (COP29) in Baku and they shared their experience of being there in-person and how it compared to the earlier COPs. The speakers also shared the key outcomes from COP 29 especially the breakthroughs in climate finance and carbon market standardisation.
The opportunities for HK especially around climate finance were discussed. It was highlighted that HK has been a pioneer in green tokenised bonds and this was a topic of interest for participants from other countries in the conference. HK could leverage on this expertise and its role as an International Financial Centre to play a leading role in climate finance.
The importance of standards in the Carbon market was discussed with great interest by not only the speakers but also by the participants at the event. The corporate perspective was also discussed where the speaker also highlighted their experience in participating in different Carbon markets in APAC and the difficulties they faced due to lack of common standards. The talk concluded with the speakers highlighting that while there are still challenges, the progress made at COP 29 augurs well and we should be optimistic especially on topics like standardisation in Carbon markets.
