Ernst & Young Hua Ming
When it comes to green finance verification in China, Ernst & Young Hua Ming stands out, and this is in part due to the fact that the global audit firm has invested in talent under managing partner Jack Chan.
Take, for instance, Judy Li, head of green finance verification in the greater China region. She oversees a team of 70 accreditation experts in Beijing, Shanghai, Guangzhou, Shenzhen, Taiwan and Hong Kong and under her direction, Ernst & Young Hua Ming has become the leader in accreditation of green finance issues in China. The firm has a commanding market share of between 60% and 65% of the green bond accreditations.
“Ernst & Young is very committed to green finance and sustainable development,” Li says, adding that she sees “green finance and sustainable development to be a huge opportunity for our growth as a firm in China.”
Of the Rmb2 trillion ($313 billion) of bonds issued annually in China, roughly 2% are green, notes Li. China’s leaders hope the percentage will rise to between 15% and 20% in the coming decade.
The Chinese government is stimulating green bond issues through a variety of measures, including tax incentives, and the future is guaranteed to be bright for green finance participants, both issuers and those who hand out accreditations, says Li.