The Green and Sustainable Finance Cross-Agency Steering Group, co-chaired by the Hong Kong Monetary Authority and the Securities and Futures Commission, set strategic priorities for 2026–2028 to strengthen Hong Kong’s sustainable finance ecosystem. The programme is structured around two pillars: consolidating Hong Kong’s position as a sustainable finance centre and developing strengths in emerging areas, including transition and adaptation finance. Priorities under the first pillar include building out the sustainability disclosure ecosystem, covering sustainability assurance, higher-quality transition plan disclosure and the effective use of technology. Market development measures focus on facilitating sustainable capital flows through Hong Kong and strengthening cross-border carbon market collaboration, complemented by external engagement and capacity-building initiatives. For emerging areas, the plan envisages scaling transition finance through practical guidance, enabling tools and case studies, and supporting adaptation finance by building market readiness, identifying capability gaps, promoting product innovation and strengthening physical risk assessment capabilities. Members also reviewed progress on the Roadmap on Sustainability Disclosure in Hong Kong, which sets a pathway for large publicly accountable entities to fully adopt International Sustainability Standards Board standards no later than 2028, and took stock of ongoing work to strengthen the disclosure ecosystem, including enhancements to the Hong Kong Taxonomy for Sustainable Finance Phase 2A that expand the scope to six sectors, increase covered economic activities from 12 to 25, introduce transition elements and add climate change adaptation as a new environmental objective.

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