The Securities and Futures Commission (SFC) published on 2 August 2022 its Agenda for Green and Sustainable Finance to set out further steps to support Hong Kong’s role as a regional green finance centre, having achieved the goals set out in its Strategic Framework for Green Finance.
The SFC will continue supporting the development of green and sustainable finance in Hong Kong and the transition to a greener economy through improving the quality of information available, increasing transparency and building trust for investors. Its work will focus on:
- Enhancing corporate disclosures;
- Monitoring the implementation of and enhancing existing measures relating to environmental, social and governance (ESG) funds and expectations for fund managers; and
- Identifying an appropriate regulatory framework for any proposed carbon markets.
“Climate change and sustainability are cross-border issues which require a coordinated response, and Hong Kong has a critical role to play as a regional and international green finance centre,” said Mr Ashley Alder, the SFC’s Chief Executive Officer. “The SFC will continue to lead global regulatory development in this space to ensure that domestic policies and international standards are aligned.”
The SFC has been at the forefront of local and global efforts (Note 2) to develop an effective regulatory framework for green and sustainable finance to ensure that investors’ information needs are met whilst upholding market integrity and investor protection. Additional details are provided in a paper, Agenda for Green and Sustainable Finance, which is available on the SFC’s website.