The HKMA Infrastructure Financing Facilitation Office (IFFO) and the International Finance Corporation (IFC), a member of the World Bank Group, co-organised a seminar today (6 May 2019). Entitled “ESG & Impact Investing: Creating Long-Term Value”, the seminar was supported by the Ministry of Finance of China. The event was attended by around 40 senior executives, comprising institutional investors, financiers, project developers and operators, insurers, and professional service providers.
On the environmental, social, and governance (ESG) aspect of the programme, IFC specialists used investment cases to elaborate on how ESG is embedded in IFC’s investment process, and the importance of ESG in creating long-term value. IFC also introduced its Disclosure & Transparency Toolkit, which provides best practice guidance on information disclosure for companies attracting private sector investment. Also on impact investing, the IFC introduced their “Operating Principles for Impact Management” (the Principles) – a market standard launched recently for impact investing in which investors seek to generate positive impact for society alongside financial returns in a disciplined and transparent way.
Mr Eddie Yue, Deputy Chief Executive of the HKMA and Director of IFFO, said, “We are glad to co-host this seminar with IFC, a trendsetter in ESG standards and a pioneer in impact investing. We are also honoured to have the support of the Ministry of Finance for this event. The collaborations with IFC and Ministry of Finance signify Hong Kong’s role as a gateway between Mainland China and rest of the world to promote ESG and impact investing. IFFO will continue to work with market leaders to build industry capacity in ESG and impact management, with a view to further promoting sustainable infrastructure, particularly in emerging economies."
Mr Vivek Pathak, Director for East Asia and Pacific, IFC, said, “Impact investing needs to offer investors a transparent basis on which they can focus investment to achieve positive measurable outcomes for society in addition to adequate financial returns. The Principles facilitate this process by creating clarity and consistency regarding what constitutes managing investments for impact to bolster confidence in the market.”
HKMA Infrastructure Financing Facilitation Office
As part of the HKMA, IFFO’s mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:
providing a platform for information exchange and experience sharing;
building capacity and knowledge on infrastructure investments and financing;
promoting market and product development; and
facilitating infrastructure investment and financing flows.
By establishing IFFO, the HKMA can play a valuable role as a catalyst in the facilitation of infrastructure investments and their financings with its mandate to promote Hong Kong as an international financial centre.
For more information about IFFO, please visit http://www.iffo.org.hk
About International Finance Corporation (IFC)
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. IFC works with more than 2,000 businesses worldwide, using their capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, IFC delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit http://www.ifc.org