Islamic finance hub, high-tech hub, biotech hub, TCM hub, Green finance hub, you name it, we've got a hub for you! Come jump on our bandwagon!
And now ESG finance. This is a notion from America, the latest iteration of an environmental and social justice agenda engulfing the United States. Let's not let it engulf us.
As the founder and ex-owner of an SME in Hong Kong (Wall Street Institute) I speak against this ESG push. It will only increase the red tape strangling our hard-working entrepreneurs.
Elon Musk has called ESG a "scam". His company, Tesla, was removed from the ESG 500 Index, due to a disputed instance, since resolved, of alleged racism in the factory. The Index removal was despite the fact that at the time Tesla had produced more electric vehicles than the rest of the world combined. How can that make any sense?
I call on the Trade Development Council to find better things to do with our money than to follow this latest Boondoggle. I join the "reluctant and wary small business owners" to demand our government give this latest gravy train a pass. Let it chug on by, as we stand — smiling and waving — with our feet firmly rooted to the ground.
