Hong Kong Boosts Sustainable Finance with Green Taxonomy

Hong Kong may mandate green taxonomy for banks to enhance sustainable finance

--FILE--View of the Hong Kong Monetary Authority (HKMA) in Hong Kong, China, 17 August 2014. Hong Kong Monetary Authority (HKMA), the special administrative region's de facto central bank, has pumped a total of HKD13.251 billion (USD1.68 billion) into its banking system over the last five days to maintain currency stability. HKMA most recently injected HKD3.587 billion into the market yesterday (16 April 2018) afternoon after the Hong Kong dollar touched HKD7.85 against the dollar, the weak end of its permitted range.

The Hong Kong Monetary Authority, the country’s central banking institution, is planning to make its green taxonomy framework mandatory for the banking sector to support the development of sustainable financing in the city.

Hong Kong’s de facto central bank introduced the green taxonomy in May to assist banks and investors in evaluating the sustainability of economic activities. This taxonomy encompasses 12 economic activities across four sectors:

Hong Kong may mandate green taxonomy for banks to enhance sustainable finance

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