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In 2023, Hong Kong's aligned GSS+ debt volume grew by 236% to USD 18.2 billion, driven primarily by the HKSAR Government's green bond issuance. The market is characterized by a strong preference for green-themed debt, with low-carbon buildings and land use as the primary use-of-proceeds categories. While the HKSAR Government dominates the local market, the Hong Kong Stock Exchange remains a key hub for offshore Chinese green bonds. The report also highlights the emergence of transition finance frameworks in mainland China and the introduction of the Hong Kong Taxonomy for Sustainable Finance to improve interoperability with international standards.

In 2023, China maintained its position as the world's largest green bond issuance market, despite a slight decline in total volume. The market is characterized by a strong preference for short-dated debt and a growing reliance on Second Party Opinions to enhance credibility. While green bonds are increasingly aligned with the 100% Use of Proceeds (UoP) rule, social and sustainability bonds face challenges with transparency and disclosure. Sustainability-linked bonds (SLBs) are prolific in number but rarely utilize greenhouse gas (GHG) reduction targets. Policy drivers include the China Green Bond Principles and the China-EU Common Ground Taxonomy, alongside emerging local transition finance guidelines for hard-to-abate sectors like steel and chemicals.

The document explores the transition from electronic money to CBDCs, focusing on China's e-CNY as a tool for renminbi internationalisation and its potential impact on Africa. It details the technical differences between cryptocurrencies and CBDCs, the specific two-tier design of the e-CNY, and the risks associated with privacy and financial disintermediation. For Africa, the paper highlights opportunities for financial inclusion and more efficient remittances, while cautioning against the risks of digital divide and state surveillance. It concludes with recommendations for African civil society and policymakers to engage in the design and standard-setting of digital currency frameworks to maintain monetary autonomy.

The report identifies four 'pillars' of protest—demands, strategy, composition, and organization—that influence the size of a movement and the likelihood of regime loyalty shifts. It argues that non-violent, broad-based campaigns demanding regime change are most likely to succeed and lead to democratic consolidation. However, it notes a recent decline in the success rate of such movements and a rise in anti-liberal protests. For international democracy promoters, the report recommends investing in civil society infrastructure during stable periods rather than attempting to instigate regime shifts.

The document outlines 12 key policy interventions to accelerate the transition of hard-to-abate sectors, categorised into simplifying pathways, steering risk and opportunity, derisking green investments, and facilitating essential resource flows.

The 2022 Hong Kong GSS+ market saw a decline in bond volumes from local issuers due to macroeconomic pressures, but significant growth in debt arranged within the territory, totaling USD 80.5bn. The HKSAR Government remains a regional leader in green bond issuance, while the city continues to serve as a primary offshore financing platform for Mainland China's decarbonisation efforts.

The Asia Data Transparency Report 2023 finds that over half of the surveyed Asian economies have poor or insufficient power sector data transparency, affecting the electricity needs of 684 million people. While high-income economies generally score better, some lower-middle income nations like India, Bangladesh, and Sri Lanka are demonstrating good practice. The report emphasizes that granular, real-time, and open-access data is essential for grid optimization and evidence-based policymaking to meet decarbonisation targets. It highlights a successful public-private partnership in India between NITI Aayog and the Vasudha Foundation and provides nine practical recommendations for improving data governance, including the use of machine-readable formats and unique identifiers.

The report details the growth and composition of China's GSS+ debt market, highlighting that China was the largest global source of green bonds in 2022. It examines the shift toward 100% use-of-proceeds alignment, the emergence of transition finance for hard-to-abate sectors, and the dominance of rural revitalisation in the social bond segment.

The document defines greenwashing in the financial sector as false or misleading representations of environmental impact and warns that it can misallocate capital and undermine the Paris Agreement. It outlines five categories of evolving regulation—disclosure, labelling, ratings, taxonomies, and net zero integrity—and classifies enforcement actions into brand, product, financing, and reporting greenwashing. To mitigate risk, the guide proposes 'five pillars' of guarding against greenwashing: screening claims, ensuring transparency, aligning internal actions with public image, monitoring regulatory changes, and adhering to fiduciary duties.

The ASIA F-LIST 2023 report examines the role of advertising in sustaining fossil fuel consumption across selected Asian markets. It argues that companies use reward programs, prize giveaways, and 'purpose-washing' campaigns—such as rural development projects and environmental restoration—to distract from their contribution to the climate crisis. The report notes a gap between sustainable intent and action among Asian consumers, partly due to misleading marketing, and highlights a growing but inconsistent regulatory landscape for climate disclosure in the region.

The report analyzes fossil fuel marketing in Asia, identifying two primary strategies: incentivizing increased fuel consumption through loyalty programs and prizes, and 'purpose-washing' to shift climate responsibility onto individuals or project a sustainable image. It notes a gap between Asian consumers' sustainable intent and action, partly due to misleading marketing, while highlighting a trend toward mandatory climate disclosures in countries like India, Japan, South Korea, Hong Kong, and Singapore.

The report finds that low-cost, repeated behaviors like reducing food waste are significantly more common than high-cost, one-time installations like heat pumps or solar panels. While many who adopted these behaviors faced minimal difficulty, non-adopters cited lack of awareness and lack of interest for low-cost actions, and high cost and home ownership issues for high-cost technologies.

The report analyzes 43 studies from 18 manuscripts published between 2006 and 2022 to assess how digital platforms can combat misinformation. It finds that content labeling and corrective information both significantly improve users' ability to perceive the accuracy of information, though results vary by topic and design. The analysis highlights a heavy reliance on USA-based samples and a high level of heterogeneity in social science research, suggesting a need for more standardized measures and diverse geographic data.

The Changing Markets Foundation and partner organisations inform WH Group that its estimated methane emissions are 0.3 million tonnes, contributing to a broader industry trend of poor transparency regarding Scope 3 emissions. The letter recommends that the company set absolute emissions reduction targets aligned with a 1.5°C limit, establish separate methane targets, reduce animal numbers in supply chains, and align with UN standards for net-zero commitments.

The report finds that while most thematic bonds meet standards, approximately 25% of green bonds and 6% of social and sustainability bonds priced in 2022 were excluded from Climate Bonds databases due to insufficient information or non-aligned Use of Proceeds (UoP). Key issues include the allocation of funds to general working capital in China, the inclusion of roads in social and sustainability frameworks in Japan, and inadequate building standards in the USA and Germany.

The document examines how emerging and disruptive technologies (EDTs)—including AI, cyber weapons, hypersonic missiles, and social media—undermine traditional nuclear deterrence by disrupting information flows, compressing decision timeframes, and transforming decision contexts. It argues that these technologies exacerbate human cognitive biases, such as automation bias and confirmation bias, which can lead to unintended nuclear escalation. To mitigate these risks, the authors propose a multidimensional strategy combining policy regulations on social media, technical tools like blockchain authentication and explainable AI, and traditional arms control measures such as 'no first use' declarations and the elimination of dual-capable delivery systems.

The document examines the legal mechanics of shareholder climate resolutions in Asia, detailing jurisdiction-specific requirements for filing, voting thresholds, and the role of company charter documents. It highlights a general trend toward increased ESG consciousness and regulatory focus on net-zero transitions in the region, while noting that legal landscapes vary significantly between countries.

The report examines the intersection of air pollution and labor markets in East and Southeast Asia, highlighting a significant gap in research and policy regarding informal workers. It finds that while formal sectors are regulated, informal workers—including street vendors and agricultural laborers—face high exposure with minimal social protection. Health burdens are highest in China and Mongolia for ambient pollution, and in Cambodia, Lao PDR, and Myanmar for household pollution. The report argues that current solutions are overly technocentric and fail to address the social inequalities and structural vulnerabilities that determine exposure levels.

The Ivory Initiative (2018-2022) focused on closing legal ivory markets in Asia and reducing demand among Chinese consumers through policy engagement and behavioral science. The initiative achieved significant reductions in ivory availability in China, with physical outlets dropping by 86% and online adverts by 86% by 2021. It successfully advocated for bans in Mainland China, Hong Kong SAR, Taiwan PoC, and Singapore, while strengthening laws in Laos, Myanmar, Thailand, and Viet Nam. Demand reduction efforts, including the #TravelIvoryFree campaign, saw the proportion of Chinese consumers intending to buy ivory fall by nearly half between 2017 and 2021. The report concludes that these efforts contributed to a decline in African elephant poaching, with the Proportion of Illegally Killed Elephants (PIKE) in 2021 reaching its lowest level since 2003.

The document argues that carbon offsets are scientifically flawed and act as a barrier to necessary emissions reductions, exposing companies to significant legal risks including consumer protection lawsuits, regulatory enforcement, and shareholder actions.