​Foreword

Honoring Financial Education and ESG in the Digital Financial Landscape

A daily routine with digital finance has become an essential part of many Hong Kong people. According to the World Bank Data, as of 2021, 97.8% of the population of Hong Kong has account ownership at a financial institution or with a mobile-money-service provider.

 

In May 2023, the HKMA officially commenced the e-HKD Pilot Programme, a trial run to tally its three-rail approach to implement a retail central bank digital currency (CBDC), that is, e-HKD, in the future.

 

Also, in May, the OECD International Network on Financial Education (INFE) organized a symposium in Paris to discuss financial literacy developments in the evolving digital finance landscape. The Symposium highlighted on the needs for digital financial literacy and the new implications for future financial education policy.

 

Therefore, the theme for this year is named “Honoring Financial Education and ESG in the Digital Financial Landscape” to reflect the exceptional effort in financial education against the backdrop of an evolving digital finance landscape. In light of this, we have refreshed our assessment criteria to ensure that the recognition reflects the community's needs justly. We have set out ten assessment criteria this year. A special mention that one criterion is “Digital Finance related” to echo the urgent need to educate the public in digital finance.

 

At the same time, we have also modified the mandatory ESG criteria to reflect a company’s higher commitment to the community through ESG efforts. To be eligible, an awardee must also engage in four ESG programs dedicated to internal and external stakeholders. The Institute has also prepared a little explanation on the definition of ESG for the ease of application.

 

We believe that, from commercial firms and non-profit organizations, many companies have made a long way and contributed significantly to the financial education scene. We hope to raise appreciation for these pro bono good deeds and make every effort count. A thousand miles begin with a single step. May I invite you to venture on this journey together and advance the community for the greater good.

 

The “IFPHK Financial Education Leadership and ESG Awards” is accepting application today.

 

 

Dennis Lau

CEO, IFPHK