The Green and Sustainable Finance Cross‑Agency Steering Group (Steering Group) convened its 12th meeting on 29 January, setting out its strategic priorities for 2026 to 2028, to further strengthen Hong Kong’s role as a competitive and future‑ready sustainable finance centre.
Building on the solid foundation of the 2023 to 2025 plan, the Steering Group’s strategic priorities for the next three years are anchored around two key pillars:
- Consolidate and strengthen efforts to solidify Hong Kong as a sustainable finance centre
- Strengthening the sustainability disclosure ecosystem, including sustainability assurance, supporting high-quality transition plan disclosure, and the effective use of technology.
- Expanding and deepening sustainable finance markets through facilitating sustainable capital flows through Hong Kong and strengthening cross border carbon market collaboration.
- Strengthening external engagement via events and participation in global dialogues.
- Supporting talent development through capacity building initiatives.
- Develop Hong Kong’s strengths in emerging areas
- Scaling transition finance with practical guidance, enabling tools and case studies, while encouraging wider industry adoption of transition planning.
- Supporting adaptation finance by building market readiness, identifying capability gaps, and supporting product innovation and development, while strengthening physical risk assessment capabilities.
Mr Eddie Yue, Co-Chair of the Steering Group and Chief Executive of the Hong Kong Monetary Authority (HKMA), said, “Hong Kong’s sustainable finance market has witnessed significant development in the past few years. The 2026 to 2028 priorities will reinforce our groundwork for building a robust sustainable finance ecosystem, while positioning Hong Kong to capture the emerging opportunities in Asia’s transition to a low-carbon and climate-resilient economy.”
Ms Julia Leung, Co-Chair of the Steering Group and Chief Executive Officer of the Securities and Futures Commission (SFC) said, “These new priorities underscore our ongoing commitment to ensuring Hong Kong remains globally aligned, forward‑looking, and responsive to market needs. Enhancing disclosures and scaling transition finance are essential to supporting credible outcomes, transparent and science‑based pathways across the financial system.”
During the meeting, members also reviewed the progress made on the implementation of the Roadmap on Sustainability Disclosure in Hong Kong (Note 1), including ongoing work on sustainability assurance (Note 2) and initiatives to strengthen the sustainability disclosure ecosystem. They also acknowledged the significant strides in establishing Hong Kong as a leading hub for sustainable and transition finance, including enhancing the Hong Kong Taxonomy for Sustainable Finance (Note 3), developing transition planning guidance for the banking sector, developing carbon market, and hosting major sustainable finance events in Hong Kong.
For details on the initiatives of the Steering Group and its members, please visit https://sustainablefinance.org.hk/en/.
About the Steering Group
Established in May 2020, the Steering Group is co-chaired by the HKMA and the SFC. Members include the Financial Services and the Treasury Bureau, the Environment and Ecology Bureau, the Insurance Authority, the Mandatory Provident Fund Schemes Authority, the Accounting and Financial Reporting Council, and Hong Kong Exchanges and Clearing Limited. The Steering Group aims to coordinate the management of climate and environmental risks to the financial sector, accelerate the growth of green and sustainable finance in Hong Kong and support the Government’s climate strategies.
Notes:
- In December 2024, the HKSAR Government launched the Roadmap on Sustainability Disclosure in Hong Kong, providing a well-defined pathway for large publicly accountable entities in Hong Kong to fully adopt the ISSB Standards no later than 2028.
- The Accounting and Financial Reporting Council published the Consultation on the Proposed Regulatory Framework for Sustainability Assurance in Hong Kong on 29 December 2025. The consultation marked a critical milestone in the Roadmap on Sustainability Disclosure in Hong Kong.
- The HKMA published the Hong Kong Taxonomy for Sustainable Finance Phase 2A on 22 January 2026. Key updates include expanding the taxonomy scope to six sectors, increasing economic activities from 12 to 25, introducing transition elements and adding a new environmental objective on climate change adaptation to address growing physical climate risks and extreme weather challenges.
