Hong Kong Monetary Authority publishes Hong Kong Taxonomy for Sustainable Finance Phase 2A expanding coverage and adding transition and adaptation elements

The Hong Kong Monetary Authority has published Phase 2A of the Hong Kong Taxonomy for Sustainable Finance, alongside a consultation report, updating its framework for classifying economic activities that contribute to green and sustainable development. Phase 2A reflects refinements made to a prototype consulted on in September 2025, following Phase 1 released in May 2024. The updated taxonomy expands coverage, adds transition elements and a climate change adaptation category, and includes enhancements intended to improve clarity and practicality. Feedback was received from banks, professional associations, asset managers, corporates, non-government organisations, think tanks, the public sector and other respondents, who generally supported the expanded scope and the new elements. The HKMA described the taxonomy as a living document and confirmed that development of the next phase is underway, to be informed by market developments, government policies, industry priorities and technological advances.