Description
Our Vision: Raise awareness of stakeholders on ESG and carbon neutrality through Regenerative Finance and web3 technology.
Our vision for ReFi Hong Kong is to create a transformative paradigm that merges environmental, social, and governance (ESG) principles with cutting-edge web3 technology. By doing so, we aim to raise awareness among stakeholders about the importance of ESG factors and carbon neutrality, ultimately fostering a regenerative economy that prioritizes sustainability and positive impact.
Considering our main focus is raising awareness, we believe that by leveraging ReFi and web3 technology, we can effectively educate stakeholders about ESG principles and carbon neutrality, make ESG strategy easier and more attractive. Through innovative financial mechanisms and web3, we will empower and incentivize individuals, businesses, and organizations to understand and actively participate in sustainable practices. By highlighting the interconnectedness between financial decisions and the environment, society, and governance, we can foster a mindset shift towards regenerative approaches.
Thus, emphasizing on transformative potential of ReFi, by harnessing the power of web3 technology, we envision a financial ecosystem that promotes transparency, traceability, and accountability. Through these mechanisms, we aim to catalyze the transition towards a carbon-neutral economy in Hong Kong, where businesses and individuals actively contribute to the regeneration of natural resources and the enhancement of social well-being.
Our Mission:
Based on the innovation of Web3 in technical and financial field, the ReFi DAO HONG KONG could help various stakeholders (government, WEB3 enthusiast, financial institutions and family offices and etc.) included but not limited:
- To achieve their own carbon neutrality, and to implement innovative methods to practise the CONCEPT of NET ZERO.
- To explore opportunities on ESG, green and sustainable finance field
- To wake up public awareness of ESG
- To accelerate the youth-led education in web3 and regenerative-oriented field.
Background: The Opportunity in Hong Kong
Hong Kong's government has recently taken a proactive stance in supporting the growth of the crypto and Web3 industries by creating a safe space for companies to operate.
The government has launched a new policy initiative called "Hong Kong: Asia's World City for Crypto & Blockchain," which aims to promote the city as a leading hub for these technologies. This initiative will provide a regulatory framework that balances innovation and investor protection, fostering a stable and safe environment for companies to operate.
The Hong Kong government is also showing a strong commitment to ESG. In 2019, the government launched the Green Finance Certification Scheme, which encourages financial institutions to develop green finance products and services, and provides certification to those that meet certain criteria. The government has also set a target of reducing Hong Kong's carbon intensity by 65-70% by 2030, compared to 2005 levels, and has implemented various policies and initiatives to promote renewable energy and efficiency. In addition, Hong Kong has been a signatory to the UN-supported Principles for Responsible Investment since 2016, and the government has recently launched a new initiative to promote sustainable finance in the city.
Challenges From ESG to ReFi
ReFi is the next evolution of ESG. Rather than simply reducing harm, ReFi aims to support regenerative practices that restore and improve ecosystems and communities. Additionally, finance instruments can empower regenerative solutions with efficiency and scalability.
Still, lack of self-awareness among individuals and communities regarding the value of ReFi is the key challenges for the Hong Kong local node. The society is in the early stages of seeing a thriving regeneration and web3 ecosystem emerge, and local communities are skeptical about how effective ReFi could be in tackling climate challenge. We cooperate with several initiatives such as Carbonbase, Arkreen, BTC Club and interact proactively with local investment communities. These initiatives offer a solid foundation for the ReFi Hong Kong community to build upon and create a network of like-minded individuals and organizations committed to regenerative finance and sustainable investment.
Although the prospects of ReFi in HongKong is bright and brilliant, the path is hard and tortuous. We are facing some realistic challenges. Convincing the highly discerning communities that are raised in an international and developed society is not an easy job, we need to keep constant visiting, impressing them with detailed cases and work, such as arranging high-quality roundtable meetings, exhibitions and other activities. All these brings financial callenges for us and we wholeheartedly appreciate the granting from government, academia and of course, the web3 community like you.
Action: 1st Online Twitter Space Talk:
27th July 2023, ReFi Hong Kong organized the 1st online Twitter Space Talk. Hosting by ReFi Hong Kong contributor, we invited 4 speakers from different industry (Carbon World, RGRT, New Energy Nexus & Allinfra) to share their exploration and practice of ESG and ReFi in Hong Kong.
We intend to raise: 5,000 USD that will be well spent to generate the following ambitious outcomes by the end of 2023:
Your donations will help make this all possible!
1. Engage the local community: 2,000 USD
- Host Twitter Space Talks
- Host at least 2 offline events in H2 2023. (Meetup is always the most effective way to gathering people together to DO something SPECIAL:).)
- These events will invite expert/guest speakers in ReFi, Web3, and ESG in Hong Kong.
- The cost may used in venue rental and refreshment arrangement.
2. Education is essential to building a regenerative future. 2,000 USD
- Partner with universities to do some projects together.
- Arrange workshops/seminars to educate young generation on ESG and ReFi
- The cost may used in venue rental and refreshment arrangement.
3. Promotion and advertisement: 500 USD
- To promote the event like create posters, banners, and etc.
4. Human resources: 500 USD
- Core team members need to be meetups regularly to discuss the coming activities organization
- Host monthly meetings on the third Tuesday of every month, to align with all the contributors what we have done and what we will do.
Impact by the end of 2023
Ideally, we would like to increase the members of ReFi Hong Kong from 33 to 100 in telegram. Reach the followers from 89 to 150 in Twitter. Through organizing offline events, to involve more young people from university into the community.