The Hong Kong Monetary Authority (HKMA) today (21 October) launched the Sustainable Finance Action Agenda (Action Agenda), setting out its vision to further consolidate Hong Kong’s position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond.
The Action Agenda includes eight goals in four areas:
I. Banking for net zero
II. Investing in a sustainable future
III. Financing net zero
IV. Making sustainability more inclusive
Mr Eddie Yue, Chief Executive of the HKMA, said, “Climate change is the defining challenge of our time. Hong Kong, as an International Financial Centre and Asia’s sustainable finance hub, has the duty and capability to up our game in facilitating sustainable fund flows and ensuring that banks manage the risks associated with the net zero transition properly. The Action Agenda sets out the HKMA’s vision in this regard, including where we are heading, when we endeavour to reach various milestones, and how we expect the industry to join hands with us in the sustainable journey.”
The HKMA will now work on implementing the Action Agenda, including providing further guidance and supporting tools for the industry. Taking into account market development and industry feedback, the HKMA will also review and refine the Action Agenda as and when necessary.
Hong Kong Monetary Authority
21 October 2024
The Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue, announces the Sustainable Finance Action Agenda.
The Hong Kong Monetary Authority (HKMA) today (21 October) launched the Sustainable Finance Action Agenda. (From left) Photo shows the Executive Director (External) of the HKMA, Mr Kenneth Hui; Deputy Chief Executive, Mr Arthur Yuen; the Chief Executive, Mr Eddie Yue; the Executive Director (Banking Policy), Mr Donald Chen; and the Chief Strategy Officer of the Exchange Fund Investment Office, Mr Leong Cheung.