Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT

The report examines the green infrastructure landscape of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), highlighting significant investment needs across sectors such as low-carbon transport, renewable energy, and green buildings. It details the role of green finance, specifically green bonds and asset-backed securities, in bridging the funding gap between public budgets and the capital required for climate-resilient infrastructure. The document provides a sample pipeline of 70 green and potentially green projects and offers six strategic recommendations to unlock private capital, including the harmonisation of green definitions and the promotion of local government green bonds.

• The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is highly vulnerable to climate change, specifically facing significant risks from sea level rise and natural disasters, with some studies suggesting it has the "highest flood risks in the world".
• Guangdong Province has set ambitious green investment targets for its 14th Five-Year Plan (FYP), with total infrastructure investment expected to reach RMB5tn (USD776.9bn), of which at least RMB1.9tn (USD299bn) is earmarked for green infrastructure.
• The GBA is expanding its low-carbon transport network, with a plan to reach 4,700 kilometres of rail network by 2025 and 5,700 kilometres by 2035 to cover cities above the county level.
• Guangdong Province aims to significantly increase its offshore wind capacity, planning to install approximately 30GW by the end of 2030, requiring an investment exceeding USD69bn.
• Water scarcity is a critical constraint in the GBA, particularly in Shenzhen and Dongguan, where per capita water resources are below the global critical value for severe water shortage of 500 m3.
• Green building adoption is high in Guangdong, where urban green buildings accounted for 62% of new buildings during the 13th FYP, and the province issued its first local regulations on green buildings in November 2020.
• The GBA is prioritizing 'new infrastructure'—defined as digital, smart, and innovative—with Guangdong planning to build 200 hydrogen fuelling stations by the end of 2022 and 250,000 charging piles by 2025.
• Green debt instruments are growing in the GBA, with issuance from GBA entities totaling USD16.9bn as of December 31, 2020, with buildings being the dominant theme in 2020 at 41% of the total volume.
• To unlock private capital, the report recommends promoting green securitisation, issuing local government green bonds, leveraging Hong Kong's capital markets, harmonising green definitions, improving project visibility via an online database, and integrating sustainability into post-COVID recovery.

APA

Zhu, L., & Lau, I. (2021). Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/cbi_gba_giio_02c.pdf

Chicago

Zhu, Laqiqige, and Ivy Lau. Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT. Climate Bonds Initiative, 2021. https://www.climatebonds.net/files/documents/publications/cbi_gba_giio_02c.pdf.

Wikipedia

{{cite report |last1=Zhu |first1=Laqiqige |last2=Lau |first2=Ivy |title=Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT |publisher=Climate Bonds Initiative |date=June 2021 |url=https://www.climatebonds.net/files/documents/publications/cbi_gba_giio_02c.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{zhu2021green, author = {Zhu, Laqiqige and Lau, Ivy}, title = {{Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT}}, institution = {Climate Bonds Initiative}, year = {2021}, month = jun, url = {https://www.climatebonds.net/files/documents/publications/cbi_gba_giio_02c.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }