Covid restrictions hamper HK’s bid to be green investment hub

Covid-19 restrictions have hampered Hong Kong’s ambition to become a green investment hub globally as investors find it harder to attract staff, said Tony Wong, founder of ESG specialist Alaya Consulting, a strategy and reporting firm. Hong Kong has stepped up efforts in recent years to become a leader in Environmental and Social Governance (ESG). It has even created working groups with government officials and global firms to develop a local talent pool. Bankers and advisers said the risks of Beijing's “zero-Covid” policy, which involves flight bans, lengthy and expensive quarantine norms, limited access to public services, and the threat of separation from family members who test positive, has already caused a talent crunch in the Chinese territory. The Hong Kong Monetary Authority (HKMA) said the city remains committed to the effort to become a green finance hub.