1、Hong Kong:Showcasing how Impact Capital Makes a DifferenceSeptember 2025Hong Kong:Showcasing How Impact Capital Makes a Difference1ContentsExecutive Summary.3Introduction.6The purpose and timing of this update.6Reframing the agenda from awareness to execution.7Navigating the next phase of impact cap

2、ital deployment.10Global and regional market overview.10Evolving impact preferences in Asia.11The rising importance of blended finance.13Snapshot:Hong Kongs position in 2025.16Growing momentum and strengthening ecosystem infrastructure.16Market activation and stakeholder engagement.17In conversation

3、 with PWMA and SFi Hong Kong as a regional capital hub:Transforming private wealth into meaningful impact.19Stories of success:cases of local expertise.25Case 1:A legal prototype for Hong Kongs impact investing future Community Resilience Fund.25Case 2:Social Impact Partners:Nurturing growth stage i

4、mpact.29Case 3:Capitalising on climate adaptation:Investment opportunities in Hong Kong.32Conclusion.36Annex 1:Examples of innovative and blended financing initiatives in Asia.38Executive SummaryHong Kong:Showcasing How Impact Capital Makes a Difference3Executive SummaryImpact capital aligns finance

5、 with purpose.As more asset owners explore their options to deploy capital for a good cause,the global impact market has experienced substantial growth in recent years,more than doubling in size in five years rising from approximately US$715 billion in 2020 to over US$1.57 trillion in 2024.1,2 This

6、expansion signifies a shift in mindset,emphasising the growing alignment of capital with purpose and the widespread adoption of impact strategies to tackle critical global challenges,such as climate change,infrastructure development,and social inclusivity.As the impact investment landscape evolves,i