HKEX Signs Agreement with China Beijing Green Exchange to Promote Green Finance and Sustainable Development

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Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with the China Beijing Green Exchange (CBGEX) on 28 November 2023 to explore cooperation in a number of areas, including building an ESG ecosystem, promoting green and sustainable finance and contributing to the green development of the Belt and Road Initiative (BRI).

Under the agreement, HKEX and CBGEX will work together to explore cross-border sustainable development, in particular addressing the demand generated from China’s increased focus on green infrastructure investments and its shift to a low-carbon economy. The two exchanges will also conduct research related to green and transition finance, collaborate on capabilities building for ESG standards and information disclosure, as well as explore opportunities in the carbon market.

HKEX Head of Emerging Business & FIC, Glenda So, said: “We are delighted to be signing an MOU with CBGEX, one of China’s leading carbon marketplaces, as we leverage the resources and market development experience of both exchanges. This partnership, coupled with other recent initiatives such as HKEX’s own commitment to carbon neutrality and net zero, highlights our ongoing commitment to combating climate change, fostering a sustainable global investment ecosystem and driving the transition to a low-carbon economy. We look forward to working together to explore regional and international market opportunities that will support a more resilient planet, driving positive change and delivering sustainable growth for the region and beyond.”

A signing ceremony for the MOU was held today at the HKEX Connect Hall. Beijing Mayor Yin Yong, and Hong Kong Secretary for Financial Services and the Treasury, Christopher Hui, were among the distinguished guests who witnessed the signing.

As a regulator, market operator, and company, HKEX has been actively working to create a vibrant ecosystem that supports companies in becoming more climate resilient and sustainable. HKEX provides a range of products and tools to help companies achieve their goals, including Core Climate, a carbon trading platform, green bonds trading on its markets, and the ESG Academy for listed issuers. Earlier this year, HKEX published a consultation paper suggesting the mandatory inclusion of climate-related disclosures in ESG reports for all issuers, in order to promote the ESG and sustainability commitments of listed companies.

Founded in 2008, CBGEX is the designated trading platform for the Emissions Trading Scheme (ETS) under the Beijing Municipal Government. As the designated operator and management entity of the Chinese national GHGs voluntary emission reduction trading system, CBGEX provides centralised trading and settlement services for the Chinese Certified Emission Reductions (CCER) scheme.

231128 HKEXBJ MOU signing

HKEX Group Head of Emerging Business & FIC Glenda So (front row, right) and China Beijing Green Exchange Chairman Wang Naixiang (front row, left) signed an MOU at HKEX Connect Hall, witnessed by Mayor of Beijing Yin Yong (middle back), Vice Mayor of Beijing Sima Hong (back row, fourth from left), Secretary General of the People’s Government of Beijing Municipality Mu Peng (back row, third from left), Hong Kong Secretary for Financial Services and the Treasury Christopher Hui (back row, fourth from right), HKEX Chief Executive Officer Nicolas Aguzin (back row, third from right), Hong Kong Permanent Secretary for Financial Services and the Treasury (Financial Services) Salina Yan (back row, second from right), Executive Director of Supervision of Markets of the Securities and Futures Commission Rico Leung (back row, second from left), HKEX Co-COO and Head of Equities Wilfred Yiu (back row, first from left) and HKEX Co-COO Bonnie Y Chan (back row, first from right).

 

Source: Hong Kong Exchanges and Clearing Limited

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