The HKMA plans to issue its second tokenized green bond, using blockchain to enhance efficiency and transparency.
The Hong Kong Monetary Authority (HKMA) announced plans to issue a second tokenized green bond within the next few months, further solidifying the region's commitment to sustainable finance.
According to HKMA Chief Executive Eddie Yue, the new tokenized bond will incorporate blockchain technology into the redemption process. This aims to increase efficiency and provide investors with enhanced transparency into the environmental impact of their investments.
The move comes as part of the HKMA's broader efforts to promote green finance, including the organization of a "Green Finance Week" in February 2024. The week will feature a global climate business forum in collaboration with the World Bank's International Finance Corporation to discuss accelerating green finance transformation.
Yue emphasized the massive growth Hong Kong has already achieved in green bonds and loans, which surged from around $11 billion two years ago to $80 billion currently.
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