The Green and Sustainable Finance Cross-Agency Steering Group in Hong Kong has outlined its strategic priorities for 2025, aimed at strengthening the city’s position as a leader in sustainable finance. The group, co-chaired by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), focuses on fostering growth in green and sustainable finance.
The group’s first priority is to implement the International Sustainability Standards Board (ISSB) Standards within Hong Kong. This will involve providing technical assistance, developing a sustainability assurance framework, and rolling out capacity-building programs in collaboration with industry stakeholders.
Secondly, the Steering Group aims to enhance the Hong Kong Taxonomy for Sustainable Finance by incorporating transition elements and new sustainable activities. The initiative will include publishing sector-specific guidance on transition finance and launching a Transition Finance Knowledge Hub on its website. In addition, efforts will be made to position Hong Kong as a regional carbon trading hub, bolstered by increased engagement with stakeholders and the expansion of regional training programs.
The third key priority is the launch of the Hong Kong Green Fintech Map in the first half of 2025, designed to support the development of green fintech. This initiative will be complemented by improvements in public data tools, including the introduction of greenhouse gas emissions calculation tools and the Climate and Environmental Risk Questionnaire for SMEs and non-listed companies. These efforts aim to enhance sustainability reporting and make environmental data more accessible.
The Steering Group, established in May 2020, consists of members from various key bodies, including the Financial Services and the Treasury Bureau, the Environment and Ecology Bureau, the Insurance Authority, and Hong Kong Exchanges and Clearing Limited, among others.
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