Bridging Continents for Green Capital: How Hong Kong and Dubai Are Shaping the Future of Sustainable Finance
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Hong Kong and Dubai are actively forging a cross-border green finance corridor, combining their complementary strengths in capital markets, regulatory expertise, and technological innovation to scale sustainability investments between Asia and the Middle East.
At the 2nd DFSA-HKMA Joint Climate Finance Conference in Dubai, policymakers and market leaders explored how innovation, transparency, and collaboration can accelerate climate finance in a world where over $5 trillion annually will be needed by 2030.
East-West Synergy: Capital Meets Technology
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DFSA Chief Executive Mark Steward highlighted that Dubai and Hong Kong represent a powerful East-West partnership capable of leading the market in sustainable financial instruments. By harmonizing policies, ESG frameworks, and risk assessment standards, the two hubs aim to boost investor confidence and drive meaningful impact.
Steward also pointed to cutting-edge tools—AI-driven risk analytics, blockchain carbon registries, and digital platforms—that can make green investments more traceable, credible, and transparent.
Closing the Climate Investment Gap
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HKMA Deputy Chief Executive Darryl Chan Wai-man stressed the need for strategic prioritization. With global climate financing needs far outpacing available resources, focus should be on deploying transition technologies where they can generate the fastest and greatest impact.
Chan identified key levers for cross-border collaboration:
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Leveraging public markets to enhance private green finance yields
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Ensuring standards alignment and avoiding greenwashing
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Developing retail-accessible ESG products
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Aggregating green assets across jurisdictions
Infrastructure That Enables Cross-Border Flow
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Eric Salomons of DFM and Nasdaq Dubai highlighted regulatory flexibility as a driver for cross-listed green ETFs and sukuks. Planned links between Dubai and Hong Kong’s trading and custody systems aim to streamline transactions and unlock new liquidity, making it easier for international investors to participate in the corridor.
A Diverse, Dynamic Ecosystem
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Panelists underscored the unique complementarity of the regions. Cliff Zhang, CEO of Templewater, noted opportunities to combine China's technological and production capabilities with GCC capital markets, facilitated by Hong Kong as a conduit.
Paul Chow, HKEX Chief Sustainability Officer, described the ecosystem as rich and multifaceted, spanning adaptation and transition finance, with multiple channels connecting Middle Eastern and Asian markets.
The conference signals that cross-border green finance is no longer aspirational—it is actionable, powered by collaboration, technology, and a shared commitment to sustainability.
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