Hong Kong and Singapore have long competed to be Asia’s leading financial hub. This battleground is now shifting to the ESG space, with potentially trillions of dollars at stake.
From green bonds to carbon trading and asset management, the two cities seek to become the regional home base for sustainable finance as governments and businesses step up investment to tackle climate change. Combined ESG assets could reach $53 trillion by 2025, with Asia triggering the next stage of growth, according to Bloomberg Intelligence.
The race to attract all this new money and business activity to Asia will take years to unfold, but so far Singapore has an early advantage over Hong Kong.
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