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The MPFA held the MPF Symposium today (24 February) to discuss with the MPF industry the development of and strategies for sustainable investment, and issued a circular letter providing guidance to MPF trustees on how to enhance the transparency of "Environmental, Social, and Governance" (ESG) funds in MPF schemes, with a view to enhancing scheme members' understanding of ESG funds for making investment decisions.

Addressing the MPF Symposium today, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, said that MPFA has been embedding sustainable investing in its mission and guidance for the industry. It is also diversifying MPF portfolios by integrating sustainable instruments with a pioneering mechanism established to prioritise the allocation to MPF schemes of institutional green bonds issued by Government.  These initiatives advanced the environmental agenda while bolstering the long-term sustainability of the MPF System. 

Mr Hui anticipated that today’s Symposium would collect wisdom of industry leaders, professionals and stakeholders to help cement Hong Kong’s role as a global leader in green finance and retirement protection and at the same time explore how finance can serve not only as a cornerstone for retirement protection, but also as a transformative force for the future of the planet.

Recognizing sustainable development as one of the most critical issues of our time, MPFA Chairman Mrs Ayesha Macpherson Lau emphasized in her opening address that the long-term impact of sustainability risks on MPF investments cannot be ignored. In this regard, the MPFA has developed principles for sustainable investing for the MPF industry.

“We are also working full steam ahead on our flagship sustainability project: the eMPF Platform,” said Mrs Lau. “By using technology, the eMPF Platform helps reduce both costs and paper consumption, making MPF operations more efficient and eco-friendly and benefiting all employers and scheme members. Our aim in the long run is to continue to move towards a greener operating environment, with the ultimate goal of being fully paperless and 100% digital!” 

Highlighting the growing momentum of sustainable investments in MPF, which has seen an almost 50-fold increase over the past decade, Mrs Lau urged the MPF industry that there is still more to be done. “Notwithstanding the good progress, MPF trustees should set higher expectations for investment managers of MPF funds to drive change in investment and risk management and launch more thematic ESG funds,” she added.

In the circular letter issued by the MPFA today, MPF trustees are required to improve disclosure by setting out in the MPF scheme brochures the ESG foci, investment strategies, and mechanisms to monitor and measure attainment of the ESG foci of ESG funds. Additionally, trustees should regularly assess the extent to which the funds’ established ESG foci is attained and disclose this in the annual governance reports of their MPF schemes. This approach enables scheme members to evaluate whether the funds’ ESG performance aligns with their expectations, thereby enhancing overall transparency.

Concluding the Symposium, MPFA Managing Director Mr Cheng Yan-chee said, “Integrating sustainability factors into investment decision-making not only helps manage related risks and facilitate planning for retirement protection in the long run; it also contributes to a more sustainable future. The MPFA's latest regulatory measure is intended to deepen MPF scheme members' understanding of ESG funds and help them make investment decisions.” 

Photo 1: Secretary for Financial Services and the Treasury Mr Christopher Hui, Guest of Honour of the Symposium, delivers his speech at the Symposium.

Photo 2: Speaking at the Symposium, MPFA Chairman Mrs Ayesha Macpherson Lau says the launch of the eMPF Platform helps reduce both costs and the use of paper, making MPF operations more efficient and eco-friendly.

Photo 3: Secretary for Financial Services and the Treasury Mr Christopher Hui (middle) officiates at the Symposium as Guest of Honour, with MPFA Chairman Mrs Ayesha Macpherson Lau (left) and Managing Director Mr Cheng Yan-chee (right). 

Photo 4: Guest of Honour Secretary for Financial Services and the Treasury Mr Christopher Hui (middle), MPFA Chairman Mrs Ayesha Macpherson Lau (fifth left), Managing Director Mr Cheng Yan-chee (fifth right), Chief Operating Officer Ms Cynthia Hui (second right), Chief Corporate Affairs Officer Mr Wallace Lau (first right), Executive Director (Members and Supervision) Mr Kenneth Chan (first left), Senior Director of Investment Products of the SFC Ms Alexandra Yeong (fourth right), Chairman and President of the Hong Kong Green Finance Association Dr Ma Jun (fourth left), Chief Executive Officer of BOCI-Prudential Trustee Limited Mr Andrew Law (third left), Head of Sustainable Investing Strategy of Fidelity International Mr Gabriel Wilson-Otto (third right), and Director of Sustainability Solutions of S&P Global Sustainable1 Mr Pak Wing Chung (second left).

Photo 5: MPFA Executive Director (Members and Supervision) Mr Kenneth Chan introduces the details of the new circular letter issued to trustees on enhancing disclosure of ESG funds and the MPFA's recent efforts to promote sustainable investing at the Symposium. 

Photo 6: Chairman and President of the Hong Kong Green Finance Association Dr Ma Jun introduces the latest developments on green finance in the Mainland and Hong Kong.

Photo 7: Senior Director of Investment Products of the Securities and Futures Commission (SFC) Ms Alexandra Yeong shares the SFC’s latest initiatives to promote sustainable finance. 

Photo 8: The Symposium features a panel discussion hosted by MPFA Chief Operating Officer Ms Cynthia Hui, who is joined by Chief Executive Officer of BOCI-Prudential Trustee Limited Mr Andrew Law; Head of Sustainable Investing Strategy of Fidelity International Mr Gabriel Wilson-Otto; and Director of Sustainability Solutions of S&P Global Sustainable1 Mr Pak Wing Chung. They share their insights on the challenges in promoting sustainable investing and the strategies to address them. 

Photo 9: MPFA Managing Director Mr Cheng Yan-chee delivers the closing remarks at the Symposium.

Photo 10: MPFA Chairman Mrs Ayesha Macpherson Lau (middle), Managing Director Mr Cheng Yan-chee (seventh left), and Chief Executive Officer of the eMPF Platform Company Mr Eric Lui (seventh right) meet with board chairmen/ representatives of the 12 MPF trustees in recognition of their staunch support to onboarding the eMPF Platform and their dedicated efforts in the process.

– Ends – 
24 February 2025