Sustainable HKMA

Under the HKMA’s Sustainable Finance Action Agenda unveiled in October 2024, we have committed to achieving net zero in our corporate operations by 2030. To this end, we have drawn up a roadmap to guide our net zero transition pathway. We plan to completely eliminate Scope 1 emissions through transitioning all our existing cars to electric vehicles, and to reduce Scope 2 emissions by implementing various decarbonisation strategies within our operations. We will also endeavour to mitigate our Scope 3 emissions, as far as practicable, from various sources, such as our supply chain, waste generation and business air travel. Additionally, we have been exploring the use of carbon insetting tools to reduce Scope 2 and 3 emissions within our value chain and assessing the use of carbon offsets for emissions that are challenging to abate.

To deliver on our commitments, our priority is to manage the environmental impact of our operations responsibly, including:

• Incorporating environmental considerations in designing, operating and maintaining our office premises and data centres, with a view to obtaining relevant green accreditations from authoritative certification bodies;
• Switching all petrol cars to electric vehicles to achieve full green mobility;
• Boosting energy efficiency by conducting regular reviews of energy consumption and energy-saving practices;
• Building a digitally empowered workplace to enhance virtual collaboration within the organisation, and adopting eco-friendly business practices;
• Advocating a green culture within the organisation, promoting the four ‘R’ principles of refuse, reduce, reuse and recycle to minimise waste generation and manage waste disposal; and
• Taking into account the factors of sustainability and environmental friendliness in our procurement practices, in addition to aligning with the green specifications on the Government’s Green Procurement List.

As we take measures to reduce our carbon footprint, we calculate and report our corporate emissions, using the GHG Protocol¹, in our annual sustainability reports. All our disclosed performance data are independently validated by a third party. 

On risk management, we continuously review the actual and potential implications of various climate-related risks that may affect the maintenance of the HKMA’s premises and operational ability of the organisation. To address these risks while ensuring business continuity, we have integrated various measures into the office design to mitigate potential physical hazards and other emergencies. In addition, we regularly update our business contingency plans and conduct drills on activation of back-up facilities to ensure that staff are familiar with the business contingency measures.

Find out more about our environmental sustainability strategies and performance on pages 49 to 52 of the Sustainability Report 2024.

Catalysing transition

The HKMA has been taking the lead in fuelling the low-carbon transition in the marketplace, and advocating measures that enhance operational efficiency and minimise resource consumption for the HKMA, the financial industry and the economy:

• Enabling electronic submissions of reports and regulatory data by banks to the HKMA, and disseminating information to banks electronically;
• Recirculating coins through the Coin Collection Programme; and
• Encouraging the public to adopt electronic payments, by promoting the use of the Faster Payment System and Stored Value Facilities, in particular, giving out electronic lai sees and using good-as-new banknotes during the Chinese New Year.

¹ The GHG Protocol Corporate Accounting and Reporting Standard

Our staff are valuable assets of the HKMA.  We promote work-life balance and seek to foster a healthy and inclusive workplace that enhances staff’s well-being.  We value every employee’s opinion and provide various communication tools for staff to offer their advice and express concerns.

In fulfilling our social responsibility, we look beyond the immediate corporate boundaries to upstream and downstream sectors to broaden our impacts. 

Volunteer and Charitable Activities

We are committed to giving back to the communities by encouraging our staff to participate in volunteer and charity work. We partner with various community organisations to address community causes. Examples of how our staff bring positive impact to our communities can be found on pages 62 of the Sustainability Report 2024.

Managing supply chain

We source goods and services from suppliers that uphold sustainability values. In selecting suppliers, we consider, among other things, a supplier’s track record in complying with labour and health and safety regulations. We engage with social enterprises, including them on our list of local vendors.

Community Engagement and Public Education

We actively run various community engagement and education initiatives through different communication channels and multiple media to promote smart and responsible use of banking and financial services. We also seek to help the public, particularly the young generation, to learn about developments and career opportunities in the financial industry in Hong Kong.

Advocating Financial Inclusion

To promote financial inclusion in Hong Kong, we work closely with the banking industry to enhance access to basic banking services by different segments of society. 

Find out more about the principles and recommended good practices set out in the industry guidelines for banks on banking services for people with physical, visual, hearing and intellectual impairments, and dementia on the webpage of the Hong Kong Association of Banks.