Rethinking Real Estate Finance: Green Bonds and Sustainable Investment in APAC

Simon Yu is an Associate Director at CBRE, the world’s leading commercial real estate services and investment firm. With a strong track record in capital markets, Simon has advised on and executed over HK$8.5 billion (US$1 billion) in real estate transactions, demonstrating deep expertise in investment advisory, transaction structuring, and market intelligence across the APAC region.

A passionate advocate for innovation and sustainability in real estate, Simon co-founded the PropTech Institute in 2019—a non-profit organization committed to accelerating the adoption of technology in the built environment. As President, he has played a pivotal role in cultivating a dynamic ecosystem that connects startups, corporates, and industry leaders to drive digital transformation and sustainable practices in Hong Kong and the Greater Bay Area.

Simon’s leadership has been instrumental in promoting the integration of AI, data analytics, and green building solutions into real estate strategies. His vision is to create a smarter, more efficient, and sustainable property sector that benefits all stakeholders—from developers and investors to communities and end-users.

In addition to his professional endeavors, Simon actively contributes to cross-cultural and educational initiatives. He serves as President of the Western University Alumni Association in Hong Kong and was recently appointed Co-Chair of the Property Committee at the Canadian Chamber of Commerce, where he champions collaboration between Canada and Asia through talent exchange and innovation.

At ReThink 2025, Simon will host the session “Rethinking Real Estate Finance: Green Bonds and Sustainable Investment in APAC,” exploring how financial innovation can unlock capital for greener, more resilient urban development across the region.

My Sustainability Goals for 2025:

Mainstream Adoption of Green Finance Instruments
I envision a significant increase in the issuance and uptake of green bonds and sustainability-linked loans across the real estate sector. These tools should become standard practice for funding new developments and retrofitting existing assets, aligning capital flows with ESG goals.

Accelerated Decarbonization of the Built Environment

I hope to see more developers and asset owners commit to science-based targets and adopt low-carbon technologies, such as smart energy systems and green construction materials, to reduce emissions across the property lifecycle.

Stronger Public-Private Collaboration on Urban Resilience
I would like to see deeper collaboration between government, industry, and academia to co-create policies and pilot programs that enhance climate resilience, promote circularity, and support sustainable urban regeneration in Hong Kong’s dense urban fabric.

Stella has over 20 years’ banking experience and has held structured finance and industry coverage roles in Asia, the United Kingdom and Australia. She is based in Hong Kong.

She is currently the Head of Sustainable Finance, International for ANZ, with responsibility across Asia, Europe and the US, focused on originating and structuring sustainable debt product for the bank’s clients.

In addition to her Sustainable Finance responsibilities, Stella is Co-Chair of the Asia Pacific Loan Market Association Green and Sustainable Loan Committee.

Prior to this, Stella was an infrastructure finance specialist in Asia and spent 15 years’ in project finance roles, across transactions in power and renewables, utilities, and transport sectors, structuring project financing for the development of critical infrastructure across Asia Pacific based in Singapore.

She has financed large scale offshore wind projects in Taiwan, acted as Transaction Advisor to PT PLN of Indonesia for the PPP solicitation of hydroelectric projects and was Financial Advisor for the first commercial, large-scale financing for National Airports Corporation of Papua New Guinea for the expansion of Jacksons Airport, Port Moresby.

As Head of APAC at GRESB, Steven is in charge of APAC region’s commercial strategy and has been with the company for over 5 years. Prior to joining GRESB he has worked in Real Estate funds management and banking for ten years.

Carmen is an experienced sustainable finance professional with a focus in impact investing and sustainable finance. She joined CACIB’s Sustainable Investment Banking (SIB) team in 2018, and has made key contributions on the green structuring aspects in a range of milestone transactions in the Asia-Pacific region, including debut People’s Republic of China Sovereign Green Bond, the inaugural and subsequent Hong Kong SAR Government Green Bonds, the inaugural and subsequent Hong Kong Mortgage Corporation Social Bonds, debut South Korea Government Green & Sustainability Bond, ICBC’s mega Greater Bay Green Bond, AIIB’s Sustainable Development Bond Framework, and China’s first onshore tri-party green repo, etc.
She serves in the cornerstone member working group of the Alliance for Green Commercial Banks and is in the Advisory Committee for the HKUST BSc Green & Sustainable Finance programme.

Carmen started her career in UBS AG as a fixed income advisor in wealth management, and subsequently joined a boutique impact advisory firm facilitating capital flows to microfinance mandates in Asia.

Carmen obtained a degree in BBA majoring in Global Business and Operations Management from the HKUST. She is a certified ESG Analyst of the EFFAS, an Associate Green Finance Professional of the Hong Kong Institute of Bankers, a holder of the CFA Institute’s Certificate in ESG Investing, and a Carbon Audit Professional (CAP). She is a Founder Advisor of a US-based social enterprise, Generation Conscious.

My Sustainability Goals for 2025:

1. more investors moving the needle and vote for sustainability with their capital
2. more innovations to leverage digitalisation and technology to promote the green economy
3. more ways for allow green / impact projects to be bankable