The Green and Sustainable Finance Cross-Agency Steering Group in Hong Kong has unveiled its strategic priorities for 2025, focusing on three main areas to enhance the region’s position as a leader in sustainable and transition finance.
These priorities are set following the latest roadmap and developments discussed in the Steering Group’s recent meeting.
Firstly, the Steering Group aims to develop a comprehensive sustainability disclosure ecosystem in Hong Kong. This initiative follows the introduction of the Roadmap on Sustainability Disclosure by the Hong Kong Special Administrative Region Government. The group plans to align with the International Financial Reporting Standards Sustainability Disclosure Standards (ISSB Standards) and will provide technical support, develop a sustainability assurance framework, and offer capacity-building programs in collaboration with local industry stakeholders.
Secondly, reinforcing Hong Kong’s role as a leading hub for sustainable and transition finance is a key goal. The Steering Group is working to expand the Hong Kong Taxonomy for Sustainable Finance by incorporating transition elements and adding new sustainable activities. They are also developing operational guidance for transition finance and setting up a Transition Finance Knowledge Hub on its website. The commitment to transform Hong Kong into a carbon trading hub in the Asia-Pacific region was reaffirmed following the advancements at COP29, focusing on increasing stakeholder engagement and providing regional capacity-building programs.
Lastly, the Steering Group is harnessing data and technology to bolster sustainability reporting and promote sustainable financing activities. They are developing the Hong Kong Green FinTech Map, expected to be published in the first half of 2025.
This tool aims to facilitate the mobilization of sustainable capital and enhance information flow with greater transparency. Moreover, the Steering Group plans to enhance public utility data tools, including greenhouse gas emissions calculation tools and a Climate and Environmental Risk Questionnaire for non-listed companies and SMEs, available throughout the year.
Copyright © 2025 RegTech Analyst
Copyright © 2018 RegTech Analyst
