HKEX inks carbon markets deal in GBA

The partnership aims to boost development of carbon markets and green financing.

The Hong Kong Exchanges & Clearing (HKEX) has entered into an agreement for the development of carbon markets in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

According to authorities, the memorandum of understanding was signed with Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange.

The MoU aims to further promote knowledge exchange and sharing, and strengthen collaboration in the development of carbon markets and the green finance ecosystem in the GBA.

The 2025 Policy Address proposed deepening pilot co-operation with the GBA carbon market, jointly building a regional carbon market ecosystem.

Core Climate, HKEX's international carbon trading platform, is the only voluntary carbon credit trading platform in the world offering settlement in Hong Kong dollars and Renminbi.

In the recent policy address, Hong Kong also announced that the government will work with relevant Mainland regulatory departments and authorities to study issues surrounding the country's participation in the international carbon market.