TAIPEI, Nov. 22, 2024 /PRNewswire/ -- Cathay Financial Holdings (Cathay FHC) has been actively participating in the UN's 29th Climate Conference (COP29), aligning with global efforts to address urgent climate challenges. As the only financial institution from Taiwan to host a conference in COP29's Blue Zone, Cathay co-host the "Asia Finance Event" with the World Climate Foundation (WCF). This is the fourth consecutive year of COP participation, Cathay FHC leverages this platform to engage with global stakeholders from government, industry, and academia, showcasing Asia's perspectives in the climate finance dialogue and amplifying Cathay FHC's influence in international climate action.
The "Asia Finance Event," emphasized the critical role of climate finance in enabling a global low-carbon transition. Themed "Catalyzing Climate Finance via Public-Private Partnerships: Perspectives from Asia," the event sought to strengthen collaboration between public and private sectors to create an enabling environment for low-carbon transition in Asia.
The event opened with remarks by Cathay FHC President Chang-Ken Lee, followed by a presentation by Sophia Cheng, Chief Investment Officer of Cathay Financial Holdings. Cheng moderated the event by inviting four panelists providing profound insights. Panelists included Anjali Viswamohanan, Director at the Asia Investor Group on Climate Change (AIGCC); Filipe B. Oliveira, Senior Advisor for Sustainable Energy for All (SEforALL); Hiro Mizuno, former Chief Investment Officer of Japan's Government Pension Investment Fund (GPIF); and Laila Nordine, Senior Sustainable Finance Manager at the International Finance Corporation (IFC). Together, they discussed strategies and key success factors for accelerating climate finance growth, focusing on public-private partnerships for Asia's hard-to-abate sectors—such as cement, steel, chemicals, and transportation—and the energy sector's low-carbon transition. The discussions underscored the need for innovative solutions and partnerships to secure the necessary funding for a successful transition.
In his opening remarks, Lee stated, "This event provides a platform to explore new investment tools and financial models that can multiply climate finance. With profound experience in climate finance and public-private partnerships, the esteemed speakers and candidates' share their valuable insight. Their expertise undoubtedly will enrich our discussion and inspire actionable solutions for advancing climate finance in Asia and beyond."
Jens Nielsen, Founder and CEO of WCF, praised Cathay FHC as a model for leadership in sustainability and climate action. Reflecting on their four-year partnership, he commended Cathay FHC's commitment to bold actions, innovative solutions, and a consistent dedication to sustainable finance, stating, "Cathay FHC has not only advanced its own sustainable practices but also set a benchmark across Asia's financial industry."
Cheng outlined the challenges Asia is facing in the low-carbon transition, noting that over 70% of global electricity demand growth is concentrated in Asia, projected to consume half of the world's electricity by 2025. High-carbon emitting sectors account for over 40% of Asia's GDP and employment, creating significant green and just transition risks. She emphasized the need for a robust climate finance ecosystem to ensure the transition actions are bankable and investable, highlighting that since Asia's climate finance largely depends on public funds, effective public-private partnerships are essential to reach the $9 trillion annual global climate finance goal by 2030.
The expert panel addressed Asia's low-carbon transition from three key lenses. First, on overcoming obstacles to public-private partnerships, Mizuno highlighted that blended finance includes time-consuming and complex designs which deter investors. He noted that standardizing procedures and models, along with involving local experts could save time and enhance investor engagement. Oliveira, despite the net-zero pledges committed by companies, called attention to inconsistencies in the carbon market. He suggested that unified standards for carbon trading could foster greater corporate commitment and accelerate climate finance.
Second, regarding the energy transition and hard-to-abate sectors in Asia, Viswamohanan stressed the importance of clearly-defined goals and timelines set by governments, along with tailored transition pathways for each sector. Nordine added that a just transition requires social safeguards to balance interests and minimize sacrifices, while Mizuno advocated for financial institutions, other than engagement with clients and investees, to work closely with policymakers to establish clear transition pathways.
Third, regarding climate finance through comprehensive public-private partnerships, Nordine called for aligning financing efforts to avoid keeping subsidizing or investing in high-emitting industries while supporting green energy. Cheng concluded that multi-stakeholder climate finance platforms are essential for sharing expertise and fostering actionable projects across governments and the private sectors, driving systemic change. Mizuno echoed this, emphasizing that while sustainable actions are costly, the cost of inaction is far greater, commending Cathay FHC's leadership in climate finance.
Cathay FHC has a long-standing commitment to sustainable finance through RE100 membership, SBTi-aligned carbon reduction targets, and increased low-carbon investments. In 2024, Cathay joined AVPN and is the anchor sponsor for the Asia's Clean Energy Transition Initiative launched by AVPN to foster fair and equitable energy transitions across Asia-Pacific.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Cathay Financial Holdings Advances Climate Finance Leadership at COP29, Championing Public-Private Partnerships and Asia's Low-Carbon Transition
Cathay Financial Holdings Advances Climate Finance Leadership at COP29, Championing Public-Private Partnerships and Asia's Low-Carbon Transition
Cathay Financial Holdings Advances Climate Finance Leadership at COP29, Championing Public-Private Partnerships and Asia's Low-Carbon Transition
Rowing and Penny Farthing Take Center Stage
Boosting Hong Kong as a "Centre for Mega International Sports Events"
HONG KONG, Nov. 22, 2024 /PRNewswire/ -- Organized by the Exhibition Group, "Hong Kong Outdoor & Sport Expo cum FITech Expo 2024" ("the Expo") is being held from today until November 24 (Friday to Sunday) at Hall 3DEFG of the Hong Kong Convention and Exhibition Centre. Riding the wave of national enthusiasm sparked by Hong Kong's outstanding performance of 2 gold and 2 bronze medals at the Paris Olympics, this year's expo has expanded to two additional exhibition halls, attracting over 100 exhibitors with nearly 300 booths showcasing the latest developments in outdoor sports and related products. The exhibition boasts a comprehensive range of products, including sports equipment, fitness gear, hiking and camping equipment, and sports medical and health technologies. The event features a diverse array of exciting activities, comprising over 20 sports competitions, multiple sports experiences, and outdoor classrooms, catering to sports enthusiasts while providing the industry with a professional platform to explore cutting-edge products in depth.
The 2024 Policy Address emphasized the long-term objectives for sports development, demonstrating commitment to transforming Hong Kong into a "Centre for Mega International Sports Events" through enhanced sports infrastructure and hosting major international sporting events. The Expo directly responds to the sports development policies outlined in the Policy Address. The opening ceremony was attended by Herman Hu, Hong Kong deputies to the National People's Congress (NPC) and the Vice-President of the Sports Federation & Olympic Committee of Hong Kong, China, Alvin Chiu, Political Assistant to Secretary for Culture, Sports and Tourism, Carl Wong, Chairman of Exhibition Group, Shirley Chu, General Manager of Exhibition Group, Cantlie Chan, Director of Fit-Max Centre (HK) Ltd, George Lee, Vice President of Business Development Team, Hong Kong & Macau, Mastercard Worldwide, Kennis Fu, Founder of Perfit, Eric Cheung, Organizer Consultant and CEO of Ericnoah Workshop Limited, Lynn Xiong, Ambassador of Perfit, Wong Kam-po, Renowned cyclists and star-studded athletes.
According to the Hong Kong Monthly Digest of Statistics published in August 2024, sports and related activities contributed significantly to Hong Kong's economy in 2022, generating HK$62 billion, which represents 2.2% of the city's GDP and creating 74,000 employment opportunities. This data underscores the gradual formation of a robust sports industry ecosystem. Concurrently, "sports tourism" has emerged as a promising new trend. The government continues to invest strategically in sports infrastructure, with the imminent launch of the Kai Tak Sports Park standing as a pivotal milestone. This world-class venue is set to become a landmark for sports and events, not only providing top-tier facilities for global sporting competitions but also positioning Hong Kong to attract more international-level events and accelerate the city's long-term sports development.
Carl Wong, Chairman of the Exhibition Group, stated: "This year marks several significant milestones for the sports scene in Hong Kong, including our Olympic team's historic performance, the upcoming Kai Tak Sports Park, and the upcoming 15th National Games to be co-hosted by Guangdong, Hong Kong, and Macau. These moments not only showcase Hong Kong's sports development but also drive demand across the sports industry ecosystem, including sports infrastructure, sports equipment manufacturing and trade, sports tourism, and supporting services. Compared to last year, this year of the expo has expanded by two additional exhibition halls. Our aim is to leverage this platform to provide the industry with opportunities for networking and showcasing the latest products. By hosting over 20 competitions, we seek to enable citizens to experience a diverse range of sports, thereby further propelling the continuous development of Hong Kong's sports industry."
To bring the joy of sports directly to citizens, the expo featured multiple on-site sporting experiences, including fencing, balance bikes, badminton, table tennis, darts, and emerging sports such as pickleball and penny farthing. Among these, pickleball, as a rapidly growing emerging sport, was promoted by the Hong Kong Pickleball Academy (Booth no. 3F-A19-20), which provided professional guidance and interactive experiences to encourage widespread participation in this new sport. The Royal Hong Kong Yacht Club (Booth no. 3F-C01), participating for the first time, also promoted sailing and rowing sports, offering on-site trial experiences and photo opportunities. Visitors could receive a certificate and a commemorative item, helping the public understand the enjoyment of water sports. The Asia Penny Farthing Association (Booth no. 3E-R15), established in June, is the first high-wheel cycling association in the Asian region. The association displayed penny farthing with their distinctive large front wheels and small rear wheels at the venue, allowing citizens to personally experience the bicycle culture of 19th-century Britain and other European regions and appreciate the unique charm of penny farthing.
The expo attracted numerous international brands making their Hong Kong debut, including GCI, ORCA, OTSO, and RUG. These brands showcased an impressive range of sports and camping equipment, from camping chairs and dining accessories to running vests and outdoor backpacks. Greatway Century Limited (Booth no. 3F-E23) offered extraordinary discounts on sporting and camping goods, featuring brands like Deplacer, Klymit, and Astage, with daily limited offers dropping prices up to 70% off. Additionally, the expo featured participation from several local outdoor brands, including Silva Artis (Booth no. 3G-J70), Autumn Grain Creation Company Limited (Booth no. 3G-H07) and Pomaru Limited (Booth no. 3G-H32). These brands provided outdoor enthusiasts with high-quality and uniquely designed original equipment and products. The Expo supporting local original merchandise, also aim to promote the development of local outdoor brands.
The three-day FITechXpo Forum brought together experts from Hong Kong Baptist University, THEi, and industry professionals to explore the intersection of sports, technology, and business. Forum topics including "Competing for Occupancy Rate: Energizing the Commercial Property Leasing Market through Sports Activities", "ESG in Clubhouse Management", "Optimizing Fitness Facility Opportunities", "Electronic Sports Games Bring Breakthrough Changes to Community Fitness Training Activities", "The Application Potential and Future Prospects of Artificial Intelligence in Sports", "Application of Technology to Game Tactical Analysis and Elite Training" and "The Role of Wearable Devices in Personalized Sports Medicine". LES MILLS offered on-site free trial classes including "DANCE", "BODYATTACK", and "BODYCOMBAT", allowing citizens to experience the latest fitness trends.
During the expo, a special camping vehicle display area and outdoor classroom were established, inviting professional mountain skills coaches and physiotherapists to share expert knowledge and techniques in outdoor sports and sports therapy. The lecture topics included comprehensive beginner camping experiences, mountain rope skill workshops, hiking and camping backpack classes, and effective prevention of hiking-related knee pain, offering guidance ranging from basic skills to in-depth knowledge. Oxfam also held a sharing session on the main stage titled " Oxfam Trailwalker: Walking 100km Against Poverty", featuring Dr Michael Wong, Director of Fundraising and Communications in Oxfam Hong Kong, Joseph Yeung, Elite Trailwalker, and Abraham Kok, former triathlon athlete, who shared their experiences navigating the muddy trails of their recent trek.
To Celebrate the 50th Anniversary of Monchhichi, multiple photo spots and a pop-up store have been set up during the Expo. In addition, the first 300 ticket buyers at the Expo can receive a free sport lucky bag, which containing sun protection items, wet wipes, electrolyte drink powder, and cooling neck rings valued at over HK$200. Customers who spend HK$250 with a single receipt using a Mastercard® at designated booths in the exhibition venue will have one chance to enter a lucky draw, with the opportunity to win round-trip tickets for two to Japan, Korea, and Taiwan (China), totaling approximately HK$110,000. This event only recognizes and accepts printed invoices. Customers can exchange lucky draw cards at the designated exchange counter, with instant scratch and reveal of lucky draw results.
Hong Kong Outdoor & Sport Expo cum FITech Expo 2024
Date
22 to 24 November 2024
Time
1100-2000
Location
Hall 3DEFG, HKCEC
Website
https://www.exhibitiongroup.com.hk/exhibitions/outdoor_sport_expo_2024
About Exhibition Group
Exhibition Group Limited is one of Hong Kong's leading exhibition planning companies.
Established in 2003 by a core group of innovative, experienced and professional exhibition professionals, it is a leading event management company specialising in the planning and management of world-class public exhibitions, conventions and trade shows across a wide range of industries. With many years of experience in the industry, we are renowned in the exhibition industry for our commitment to the development of the exhibition and marketing business.
This press release is distributed by Market Hubs Holdings Limited.
For Media Enquiry,
Market Hubs Holdings Limited
Lierence Li æŽé‘’泉
lierence@markethubsgroup.com
Debbie So
debbie@markethubsgroup.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
"Hong Kong Outdoor & Sport Expo cum FITech Expo 2024" Officially Opens
