Hong Kong is world’s 10th largest green economy

It bested out Switzerland and Sweden in terms of market capitalisation.

Hong Kong has been named the world’s 10th largest green economy based on market capitalisation, according to a report by the London Stock Exchange Group.

Hong Kong and India (9th) bested out Switzerland and Sweden in 2024 to close out the top 10. The green economy refers to a market providing climate and environmental solutions.

By outstanding amount of green bonds held, Hong Kong was the 13th largest in the world behind its regional peers Japan (8th) and South Korea (12th).

Globally, the US is still the largest green economy by market, accounting for 60% of the market capitalisation of the green economy in 2024. This is a result of the sheer size of America’s equity market, LSEG noted.

Taiwan overtook China to become the second-largest market (6%) in 2024. Its semiconductor manufacturing hit green revenues of over 60%. Taiwan’s market capitalisation was close to US$600b, according to LSEG.

The green economy spans more than 50 developed and emerging markets.

China’s green economy remains within the top three (5%), although it is downsizing given the decline of its equity market. LSEG also noted that a large part of China’s green economy is not listed.