No U-turn for businesses

Secretary of Financial Services and Treasury Bureau, Hong Kong, Christopher Hui Ching-yu (pictured) at Unlocking capital for sustainability. Image- Eco-Business.

Jeremy Chan

Assistant Editor, EB Studio

Geopolitical and economic uncertainty have resulted in "a little bit of a shakeout" in sustainability commitments by the private sector, said Mark Konyn, group chief investment officer at insurance giant AIA this week. But under the surface, many companies remain fully committed. “We are not entering a U-turn environment,” he noted.

Konyn was speaking at Unlocking capital for sustainability, which took place for the first time in Hong Kong on 27 March 2025 amid the city's Wealth and Investment Mega Week. His comments echo the sentiment of China's climate response chief, Xia Yingxian, who spoke of his country's "consistency" in tackling climate change earlier in the week. Meanwhile, Christopher Hui Ching-yu, Hong Kong's financial services secretary, emphasised the city's role as the region's sustainable finance hub and as a strategic "bridge" to China.

Asia's energy transition was also highlighted as a high potential area for sustainable investments. At a separate event, Elrika Hamdi, deputy head of the Just Energy Transition Partnership (JETP), observed that Indonesia's energy transition is more contingent on getting clean energy projects approved than the lack of funding. Her comments came as Indonesia’s Cirebon-1 coal power plant was announced to retire seven years earlier under JETP. 

Indonesia’s energy transition and first sovereign blue bond will be discussed at the next Unlocking capital for sustainability forum, which will take place in Jakarta, Indonesia on 19 June. This week, we also unveiled the eight start-ups shortlisted for The Liveability Challenge aimed at funding the best sustainability innovations. Join us for the grand finale on 7 May at Ecosperity. - Eco-Business