Hong Kong green financing steering group unveils 2025 priorities

The group group is led by the HKMA and the SFC.

The Green and Sustainable Finance Cross-Agency Steering Group announced three key priorities for this year to foster the growth of sustainable finance in Hong Kong.

First, the Steering Group will implement the ISSB Standards in Hong Kong by providing technical assistance, developing a sustainability assurance framework, and launching capacity-building programmes with industry partners.

Second, the Steering Group will expand the Hong Kong Taxonomy for Sustainable Finance to include transition elements and new sustainable activities. It will also publish sector-specific guidance on transition finance and launch a Transition Finance Knowledge Hub on its website. Additionally, it will work towards establishing Hong Kong as a carbon trading hub in the Asia-Pacific region by increasing stakeholder engagement and regional training initiatives.

Third, the Steering Group will launch the Hong Kong Green Fintech Map in the first half of 2025 to support green fintech development. It will also enhance public data tools, including two greenhouse gas emissions calculation tools and the Climate and Environmental Risk Questionnaire for SMEs and non-listed companies, to improve sustainability reporting and data accessibility. Mandatory Provident Fund Schemes Authority, the Accounting and Financial Reporting Council, and Hong Kong Exchanges and Clearing Limited.

Established in May 2020, the Steering Group is co-chaired by the Hong Kong Monetary Authority and the Securities and Futures Commission. Members include the Financial Services and the Treasury Bureau, the Environment and Ecology Bureau, the Insurance Authority, the Mandatory Provident Fund Schemes Authority, the Accounting and Financial Reporting Council, and Hong Kong Exchanges and Clearing Limited.