The Hong Kong Insurance Authority published an update from the Green and Sustainable Finance Cross-Agency Steering Group setting three priorities for 2025 to support the growth of sustainable finance in Hong Kong. The work programme focuses on building a sustainability disclosure ecosystem, strengthening Hong Kong’s position in sustainable and transition finance, and using data and technology to improve reporting and financing activity. On disclosures, the Steering Group will support implementation of the International Financial Reporting Standards Sustainability Disclosure Standards (ISSB Standards) by working with stakeholders on technical assistance for reporting, developing a sustainability assurance framework, and delivering industry capacity-building programmes. On market development, it is engaging industry to expand the Hong Kong Taxonomy for Sustainable Finance to include transition elements and new sustainable activities, developing sectoral operational guidance for transition finance, and launching a Transition Finance Knowledge Hub on its website; it also reiterated its aim to develop Hong Kong into an Asia-Pacific carbon trading hub through increased stakeholder engagement and regional capacity-building. On data and technology, the Steering Group is developing the official Hong Kong Green Fintech Map for publication in the first half of 2025 and will continue enhancing its public utility data tools throughout 2025, including greenhouse gas emissions calculation and estimation tools and a climate and environmental risk questionnaire for non-listed companies and small and medium-sized enterprises.

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