China News Service, Hong Kong, December 17 (Reporter Shi Bingyun) The green and sustainable finance inter-institutional steering group jointly established by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) in May this year, 17 The strategic plan for green and sustainable finance and five major action plans are released daily to consolidate Hong Kong’s financial ecosystem and build a greener and more sustainable future in the long run.
The steering group stated that in order to improve the transparency of Hong Kong’s future direction, the steering group formulated a strategic plan to consolidate Hong Kong’s financial ecosystem in six aspects, including: strengthening the management of climate-related financial risks; promoting the circulation of climate-related information at all levels to facilitate risks Management, fund allocation and investor protection; enhance the relevant skills of the industry to promote public attention to green and sustainable finance; encourage product innovation and research measures to promote capital flow to green and sustainable projects; grasp the business opportunities brought by the mainland, Develop Hong Kong as a green financial center in the Guangdong-Hong Kong-Macao Greater Bay Area; strengthen regional and international cooperation.
The steering group also put forward five action plans that need to be implemented in the short term: relevant industries must disclose climate-related information in accordance with the recommendations of the Climate-Related Financial Disclosure Working Group by 2025; under the international sustainable financial platform, to adopt common Targeting the Green Classification Catalog; supporting the development of international sustainable financial reporting standards; encouraging climate-focused contextual analysis; and establishing a platform and sustainable financial database that coordinate regulatory agencies, industry stakeholders, and academic institutions.
The Chief Executive Officer of the China Securities Regulatory Commission Oudali said that as a global financial center, Hong Kong's capital market has a total value of 45.7 trillion Hong Kong dollars and is closely related to mainland China's capital. He believes that it plays an important role in guiding the allocation of capital resources and promoting green finance.
Monetary Authority President Yu Weiwen said that the Hong Kong green bond market is very active. As the central government promotes the goal of achieving “carbon neutrality” by 2060, the demand for green financing in the Mainland will increase significantly. Hong Kong can assist green financing projects in the Mainland to contact international investors .
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