The Hong Kong Monetary Authority has launched a public consultation on the Phase 2A prototype of the Hong Kong Taxonomy for Sustainable Finance, continuing its phased development of a framework that defines what constitutes green and sustainable activities. The taxonomy is positioned as a market tool to support decision-making in sustainable finance, scale capital flows and address greenwashing concerns. Building on Phase 1, published in May 2024, the Phase 2A prototype expands the taxonomy from four to six sectors by adding manufacturing and information and communications technology. It also increases the number of economic activities from 12 to 25, including 13 new activities and updates to technical screening criteria for certain Phase 1 activities. New transition elements include interim decarbonisation targets, measures to support transition and sunset dates, and a new environmental objective, climate change adaptation, has been added to reflect funding needs linked to physical climate risks and extreme weather. The consultation is open until 8 October 2025.
Hong Kong Monetary Authority 2025-09-08
Hong Kong Monetary Authority launches consultation on Phase 2A prototype of Hong Kong Taxonomy expanding sector coverage and adding transition and climate adaptation elements
The Hong Kong Monetary Authority has initiated a public consultation on the Phase 2A prototype of the Hong Kong Taxonomy for Sustainable Finance, expanding its framework to include six sectors and 25 economic activities. This phase introduces new transition elements such as interim decarbonisation targets and climate change adaptation objectives to address greenwashing and support sustainable finance decision-making.