Unlocking impact capital in Hong Kong: Learnings from global ecosystems

Unlocking impact capital in Hong Kong: Learnings from global ecosystems was developed in partnership with the Institute of Philanthropy and Tri-Sector Associates and our Social Finance Global Network partner, Social Finance US. Hong Kong’s Financial Services Development Council and the Hong Kong Academy for Wealth Legacy also supported this work.

Published:7 September 2026

Updated:11 September 2026

Alongside Tri-Sector Associates, who led research and stakeholder engagement in Hong Kong, Social Finance took a deep dive into how impact capital markets have developed in the UK, Japan and Singapore. We asked what made them grow, which institutions mattered and what helped promising ideas become reality. We also spoke to people who had helped shape those markets at key moments.

Together, we tested these international lessons against local realities for Hong Kong, with a goal was not to copy another market, but to help lay the foundations for Hong Kong to build its own. The research included conversations with more than 50 stakeholders and their teams across four markets, and a poll of 20 Hong Kong-based family offices.

Social Finance UK: Bethan Phillips, Charlotte Haywood, Jane Newman and Saskia Thomas; and independent consultant Sarah Baillie.

Social Finance US: Hanna Jamal and Tracy Palandjian. 

Tri-Sector Associates: Bryan Wong, Carol Tan, Esther Quek, Kevin Tan and Yu Ting Poh.