Wealth for Good summit: the next unicorn will emerge from technology start-ups that help the world shift into a net-zero economy
- Sustainable technology will probably spawn the next billion-dollar start-up, say experts at Hong Kong’s inaugural Wealth for Good philanthropy summit
- Hong Kong is poised to serve as green-tech hub, and family offices are well-placed to help nurture SusTech companies, experts say
The city, the world’s fourth-largest capital market, has the financial ecosystem, talent pool and regulations to attract and nurture companies that develop sustainable technology (SusTech) to wean the global economy off fossil fuels and move towards zero emissions, they said.
Family offices managed by ultrawealthy tycoons are well-placed to nurture these SusTech companies, as they approach these investments with an eye towards doing social good instead of purely chasing returns.
“The timing is perfect for ESG [environmental, social and governance] impact investments, [which] should be alpha-generating, not just risk mitigating,” said Poman Lo, founding managing partner of the sustainable technology fund AlphaTrio Capital, who moderated a Wealth for Green panel at the summit. “Family offices can turn these transition risks into opportunities.”
