PANews reported on September 14th that Hong Kong Financial Secretary Paul Chan Mo-po stated in his latest memoir that Hong Kong is a leader in green and sustainable finance in Asia, but that, in addition to volume, it is crucial to provide innovative products that meet the development needs of different countries and regions. Catastrophe bonds and infrastructure securitization are good examples. The Hong Kong Monetary Authority is exploring, through the Ensemble Sandbox project, how tokenization can improve the issuance and trading of carbon credits, thereby enhancing the liquidity and depth of the carbon market.