Advertisement
Environmental science is most sought after academic background for sustainable finance professionals in Hong Kong, says HKUST survey
- Such a qualification is particularly important as allegations of ‘greenwashing’ – making false sustainability claims – often arise
- ‘Without the scientific knowledge, it is hard to question, challenge and assess these claims,” says dean of HKUST’s school of business and management
Reading Time:3 minutes
Why you can trust SCMP
Environmental science is the most sought after academic background for sustainable finance professionals in Hong Kong, according to a survey of industry employers by the Hong Kong University of Science & Technology.
Such a qualification is particularly important because allegations of “greenwashing” often arise when there is “no science to back up claims” of sustainable practices made by firms, said Tam Kar-yan, dean of HKUST’s school of business and management at the launch of the study on Wednesday afternoon.
Greenwashing refers to sustainability claims that are not backed by clear, agreed definitions, which can lead to a false impression of the overall benefits.
Advertisement
“Without the scientific knowledge, it is hard to question, challenge and assess these claims,” said Tam.
“Green finance … is the translation of climate risk into financial risk. There needs to be a solid understanding of both areas, otherwise you cannot make sense of the most important part of how to translate those risks.”
04:18
Hong Kong’s 11-year-old climate activist on a mission to urge adults help save future generations
Hong Kong’s 11-year-old climate activist on a mission to urge adults help save future generations
The survey of senior executives of 55 companies from different financial sectors, including banks, smaller firms and family offices, found that environmental science was chosen by over 60 per cent of respondents as their favoured academic background for sustainable finance staff.
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x