Hong Kong has been established as a green hub with an objective to develop a wide range of green financial products. The Green and Sustainable Finance Cross-Agency Steering Group was set up in May 2020 with the aim to co-ordinate the management of climate and environmental risks to the financial sector, accelerate the growth of green and sustainable finance in Hong Kong and support the Governments climate strategies. It is co-chaired by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), and members comprise the Environment Bureau, the Financial Services and the Treasury Bureau, Hong Kong Exchanges and Clearing Limited, the Insurance Authority, and the Mandatory Provident Fund Schemes Authority.

Identify and describe 4 different types of green financial products/services that could be introduced under the above latest development in Hong Kong under 4 of the above different financial regulators above.

Explain their respective product features by using an example for each and how they would enhance ESG performance in Hong Kong and even the rest of the world striving for global sustainability.