Persons in custody at Lo Wu Correctional Institution attain good examination results
Sixty-eight persons in custody (PICs) at Lo Wu Correctional Institution (LWCI) of the Correctional Services Department (CSD) were presented with certificates at a ceremony today (April 2) in recognition of their continuous efforts in pursuing further studies.
In 2024, a total of 125 PICs at LWCI passed 215 papers with 106 distinctions and credits in various distance learning course and public examinations, covering different subjects including language and literature, English language, business finance, economics, marketing and psychology, organised by the Hong Kong Metropolitan University (HKMU), the Hong Kong Examinations and Assessment Authority, and Caritas Institute of Community Education. The 68 PICs who received certificates today passed 111 papers with 44 distinctions and credits. Among them, two PICs were awarded Bachelor's Degrees in Social Sciences and one was awarded an Associate Degree in General Studies by the HKMU.
Officiating at the ceremony, the Bishop of the Catholic Diocese of Hong Kong, Cardinal Stephen Chow, said that the Diocese has long attached importance to the well-being of PICs and provided prison ministry services for PICs to serve their religious needs and spread the Gospel. The Diocese has been highly supportive of the rehabilitation work of the CSD. It set up the Light Up Education Fund of the Catholic Church in 2023, running for at least three years, with an annual donation of $1 million to the CSD to provide education subsidies for PICs aged 35 or below with financial difficulties, so as to actively encourage them to pursue continuing studies. The Diocese has also collaborated with the CSD to help PICs create a new life plan and rebuild family relationships, as well as to provide them with job opportunities after their release.
During the ceremony, about 30 PICs took part in a musical to demonstrate their determination to turn over a new leaf in the prison and reset life goals for rehabilitation. Thereafter, the PICs presented thank-you cards to the volunteer vocal tutor and choreography tutor to express gratitude for their guidance, which enabled them to overcome challenges with perseverance and hard work.
In the sharing session, a PIC shared her experience in the course of rehabilitation and thanked her family members for their unwavering support. She resumed her studies during imprisonment and found her direction in life in the course of pursuing her studies. Her mother also shared her happiness of witnessing her daughter's positive changes and expressed gratitude for the CSD's assistance in helping her daughter rehabilitate.
Also attending the ceremony were representatives of non-governmental and community organisations, community leaders and family members of the certificate recipients.
LWCI is a medium security institution for female adult convicted PICs, female adult remand PICs and female adult drug addicts undergoing treatment programmes under the Drug Addiction Treatment Centres Ordinance.
Persons in custody at Lo Wu Correctional Institution attain good examination results Source: HKSAR Government Press Releases
Persons in custody at Lo Wu Correctional Institution attain good examination results Source: HKSAR Government Press Releases
Persons in custody at Lo Wu Correctional Institution attain good examination results Source: HKSAR Government Press Releases
Persons in custody at Lo Wu Correctional Institution attain good examination results Source: HKSAR Government Press Releases
Acting SFST's speech at Earth Forum 2025
Following is the speech by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, at the Earth Forum 2025 today (April 22):
Plato (Chairperson of Friends of the Earth (HK), Mr Plato Yip), King (Executive Director of the Financial Services Development Council (FSDC), Dr King Au), Dr Leng (Board Member of the International Sustainability Standards Board of the IFRS Foundation, Dr Bing Leng), Dr Guo (Chairman of the China Sustainable Investment Forum (China SIF), Dr Guo Peiyuan), distinguished guests, ladies and gentlemen,
Good afternoon. It is my great honour and pleasure to join you today at the Earth Forum 2025, a gathering of visionaries committed to shaping a sustainable future. First of all, I would like to express my gratitude to Friends of the Earth, FSDC and China SIF for organising this pivotal event and to all of you for your unwavering dedication to advancing green finance.
As Asia's leading international financial centre, Hong Kong has also become Asia's premier hub for green and sustainable finance. To align with the target of achieving carbon neutrality by 2050, Hong Kong has made significant commitments of its own. These targets are not merely aspirational; they are driving systemic reforms across various sectors, including energy, transportation, and finance.
In 2024, the total green and sustainable debts issued in Hong Kong exceeded US$84 billion, among which the volume of green and sustainable bonds arranged in Hong Kong amounted to around US$43 billion, ranking first in the Asian market for seven consecutive years since 2018 and capturing around 45 per cent of the regional total. This accomplishment solidifies our position as the region's premier platform for scaling climate-positive investments and also underscores our dedication to fostering a robust green finance ecosystem.
Hong Kong's status as a strategic nexus for green finance in Asia is central to advancing global sustainability objectives. As of the end of December last year, there are more than 220 ESG (environmental, social and governance) funds in Hong Kong authorised by our regulator, with assets under management (AUM) of around HK$1.2 trillion. This represents a remarkable increase of 136 per cent in the number of funds and a 15 per cent rise in AUM from just three years ago. These elements will solidify Hong Kong's role as the gateway to sustainable finance in Asia.
As an international financial centre, Hong Kong is uniquely positioned to mobilise the necessary capital for climate solutions while ensuring robust integrity within our financial markets. Hong Kong's multifaceted approach encompasses policy frameworks, market infrastructure, innovation ecosystems, and cross-border collaboration. Our Government Sustainable Bond Programme stands as a testament to this transformation. Having raised HK$220 billion since 2019, including the groundbreaking tokenised bond charge, we're not just starting green projects but creating new benchmarks for the market in different currencies and across different tenors. The recent expansion of the programme to include sustainable projects reflects our commitment to financing a broader range of climate solutions.
As we navigate the complexities of climate change and strive for a sustainable future, transparency and robust governance remain fundamental to our approach. In December 2024, we launched a roadmap on sustainability disclosure in Hong Kong. The roadmap sets out Hong Kong's approach to require publicly accountable entities (PAEs) to adopt the ISSB Standards (International Financial Reporting Standards - Sustainability Disclosure Standards). Assuming the role of the sustainability reporting standard setter in Hong Kong, the Hong Kong Institute of Certified Public Accountants (HKICPA) published in December 2024 following a public consultation the Hong Kong Sustainability Disclosure Standards (Hong Kong Standards) fully aligned with the ISSB Standards, with an effective date of August 1, 2025. All these ensure our regulatory framework remains aligned with international best practices while addressing the specific needs of the evolving markets.
Our regulatory framework is fundamental to creating a robust and dynamic sustainable finance ecosystem. By establishing clear guidelines and standards, we can ensure that all stakeholders are aligned in their efforts towards sustainability. The Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance in May 2024, aligns with the two mainstream taxonomies of the Mainland and the European Union (EU), and currently encompasses 12 economic activities under four sectors, namely power generation, transportation, construction, and water and waste management. It serves as a pivotal tool to raise awareness about green finance, promote common understanding of green activities, facilitate green finance flows, and provide a foundation for further applications. In its Phase 2 development, the Taxonomy will introduce transition activities and add new green activities to make it more usable and support the transition of the region.
We recognise that developing green finance talent is vital for sustaining our leadership position. Our Pilot Green and Sustainable Finance Capacity Building Support Scheme has successfully approved over 6 400 applications with a total amount of reimbursement of about HK$35.8 million. As mentioned in the 2025-2026 Budget, we will extend the scheme to 2028 to continuously support local green finance talent training.
Our progress reflects the Government's commitment to not only human capital development but also technological innovation. The Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme, launched by the Government in June last year, aims to nurture an advanced green fintech ecosystem by providing vital support for innovative projects. The Scheme facilitates the commercialisation of the solutions and the completion of the proof-of-concept stage, enabling wider adoption of green and sustainable fintech solutions with potential in the business landscape of Hong Kong. A total of 39 applicants involving 60 projects were approved, with a grant of HK$150,000 for each project. These initiatives are building the expertise required to sustain Hong Kong's leadership in sustainable finance.
Ladies and gentlemen, the transition to a sustainable future is both our greatest challenge and our most exciting opportunity. Hong Kong stands ready to play its part - as a financial hub, as an innovator and, most importantly, as your partner in this vital work. Looking ahead, we will leverage Hong Kong's unique position as an international financial centre to connect capital with climate solutions. This strategic role positions Hong Kong to make significant contributions to global climate action through financial innovation.
I look forward to today's constructive dialogue and to our continued collaboration in translating these strategic initiatives into tangible outcomes that advance Hong Kong's sustainable finance leadership. Let us work together to build a sustainable future.
Thank you.
