HKMA Published Hong Kong Taxonomy for Sustainable Finance

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Congratulations to HKMA for publishing the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy) on 3 May 2024, which is a milestone in Hong Kong’s green finance landscape, enabling informed decision making on #green and #sustainable finance and facilitating relevant finance flows.

 

Press release

Hong Kong Taxonomy

 

The Hong Kong Taxonomy covers 4 key sectors:

– Electricity, Gas, Steam and Air Conditioning Supply

– Transportation and Storage

– Water Supply; Sewerage, Waste Management and Remediation Activities

– Construction

Notably, the Hong Kong Taxonomy is a living document and the HKMA will seek to expand the coverage of the taxonomy to include more sectors and activities, including transition activities.

 

The release of the Hong Kong Taxonomy is expected to drive impactful cross-border investments in sustainability by providing a common language of sustainable finance. It will be guided by scientific and other principles to ensure its credibility, scientific approach and alignment with important benchmarks. One of the core principles of the Hong Kong Taxonomy is its interoperability with other taxonomies including the Common Group Taxonomy – one of the key referenced taxonomies. Read HKGFA’s Common Ground Taxonomy Research Series for more insights in sustainable finance taxonomy developments.

Phase 1

Phase 2

Phase 3

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