The Hong Kong Exchanges and Clearing Limited (HKEX) has signed a Memorandum of Understanding (MOU) with the China Beijing Green Exchange (CBGEX) for green finance and sustainable development.
The agreement aims to foster cooperation in various areas, notably in building an ESG ecosystem, enhancing green finance, and supporting the green development of the Belt and Road Initiative.
This partnership marks a strategic move by both exchanges to focus on cross-border sustainable development. It addresses the growing demand for green infrastructure investments in China and the country’s transition towards a low-carbon economy.
The collaboration will include research in green and transition finance, development of ESG standards, information disclosure practices, and exploring opportunities in the carbon market.
The signing ceremony was attended by notable figures including Beijing Mayor Yin Yong and Hong Kong Secretary for Financial Services and the Treasury, Christopher Hui.
HKEX has been proactively working towards fostering a climate-resilient and sustainable ecosystem. It offers various tools and platforms, such as Core Climate for carbon trading, green bonds, and the ESG Academy, to assist companies in meeting their sustainability goals. Earlier this year, HKEX proposed mandatory climate-related disclosures in ESG reports for all listed issuers.
Established in 2008, CBGEX is a key player in China’s Emissions Trading Scheme, managing the Chinese national GHGs voluntary emission reduction trading system and providing centralised trading and settlement services for the Chinese Certified Emission Reductions scheme.
Glenda So, Head of Emerging Business & FIC at HKEX said,
“This partnership, coupled with other recent initiatives such as HKEX’s own commitment to carbon neutrality and net zero, highlights our ongoing commitment to combating climate change, fostering a sustainable global investment ecosystem and driving the transition to a low-carbon economy.
We look forward to working together to explore regional and international market opportunities that will support a more resilient planet, driving positive change and delivering sustainable growth for the region and beyond.”
