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On 15 July 2021, Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group (Steering Group), representing a critical mass of Hong Kong’s financial regulatory bodies, announced next steps to advance green and sustainable finance in the Special Administrative Region (the Announcement). According to the Announcement, the regulators will prioritize:

  • climate-related disclosures;
  • carbon market opportunities; and
  • a new cross-sector platform to help the financial industry manage climate change-related risks and opportunities.

In this Blog Post, we highlight key aspects of the Announcement and points for market participants to consider as Hong Kong moves toward a more sustainable future.…

Continue Reading Mandatory Climate Disclosures, Carbon Markets Attract Regulatory Attention in Hong Kong

China - Hong Kong

Hong Kong’s Securities and Futures Commission (SFC) has issued new guidelines on enhanced disclosures required for Hong Kong-authorised funds incorporating environmental, social and governance factors as their key investment focus (ESG funds).

The new guidance, announced on 29 June 2021 via a circular (the Circular), will take effect from 1 January 2022, supplanting existing guidelines last updated in April 2019.…

Continue Reading New Hong Kong Guidelines on Enhanced Disclosures for ESG Funds in 2022

China - Hong Kong

On May 4, 2021, the Hong Kong Monetary Authority (HKMA) released the details of its Green and Sustainable Finance Grant Scheme (GSF Grant Scheme), which will consolidate Hong Kong’s existing Pilot Bond Grant Scheme and Green Bond Grant Scheme into one new program. According to the Chief Executive of the HKMA, Mr. Eddie Yue:

“The global green bond market has grown from practically non-existent ten years ago to US$270 billion in 2020.  In Hong Kong, we have taken early and proactive steps to strengthen Hong Kong’s position as a regional green and sustainable finance hub, including the issuance of two rounds of Government green bonds since 2019 and the establishment of the Green and Sustainable Finance Cross-Agency Steering Group to coordinate cross-agency market development efforts.  The launch of a new [GSF] Grant Scheme to support green and sustainable bond issuance and lending will further enrich the green and sustainable finance ecosystem in Hong Kong.”

Continue reading for more details on the GSF Grant Scheme.…

Continue Reading Hong Kong’s New Green And Sustainable Finance Grant Scheme Begins May 10

China - Hong Kong

On April 16, 2021, the Stock Exchange of Hong Kong Limited (SEHK) issued a consultation paper (the “Consultation“) seeking public comment on proposed amendments to the SEHK’s Corporate Governance Code and Listing Rules intended to promote good corporate governance practices among listed companies and IPO applicants. Amidst the global surge in…

On December 17, 2020, Hong Kong’s Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) published its Strategic Plan to Strengthen Hong Kong’s Financial Ecosystem to Support a Greener and More Sustainable Future (Strategic Plan). The Strategic Plan sets out six key focus areas to strengthen Hong Kong’s financial ecosystem and…