A new regional initiative to advance sustainable finance aims to set an example for all stakeholders to join forces. The Hong Kong Monetary Authority (HKMA), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and the World Bank Group’s International Finance Corporation (IFC) have forged a strategic partnership to invest in climate projects. The team stresses the importance of a collaborative approach involving multiple partners and institutions to address sustainability challenges in the region, HKMA said in a statement. One of the partnership’s first investments was made in the Actis Asia Energy Transition Fund managed by global sustainable infrastructure investment management firm Actis GP LLP. “The HKMA, AIIB, ADB and IFC collectively acknowledge the importance of collaborating to seize the climate opportunities in Asia, focusing on making investments that will strive to meet our respective net-zero targets,” HKMA deputy chief executive Howard Lee told the Asia Climate Investment Seminar in Hong Kong on 11 November when announcing the cooperation. “The strategic partnership aims to set an example, calling on all stakeholders to join forces in addressing climate ch...