HKEX and B3 to build cross-border carbon markets, advance sustainable finance

The agreement eyes equity cross-listings, carbon, and ESG deals.

Hong Kong Exchanges and Clearing Limited (HKEX) signed a Memorandum of Understanding with Brazilian stock exchange operator B3 to develop carbon markets and sustainable finance initiatives.

The agreement covers carbon market development and commodity opportunities in Hong Kong and Brazil, establishing communication channels for collaboration, according to a press release.

Plans include exploring equity cross-listings and identifying carbon and ESG product opportunities across Asia and South America.

Paul Chow, HKEX Chief Sustainability Officer, said the partnership builds on the Core Climate carbon marketplace to support international carbon standards and innovation.

Sérgio Gullo, B3 Director of International Business Development, added that the cooperation positions B3 in the transition towards a sustainable economy whilst providing the Brazilian market with access to international ESG products.

HKEX said the collaboration expands its sustainable finance footprint through ties with B3, acting as a connector between the two regions to support the development of carbon markets and broader financial ecosystem resilience.