HKMA Steering Group Welcomes Launch of Carbon Marketplace
The Green and Sustainable Finance Cross-Agency Steering Group of the Hong Kong Monetary Authority (HKMA) welcomed the launch of Core Climate, the international carbon marketplace set up by the Hong Kong Exchanges and Clearing Limited (HKEX).
Core Climate is an international carbon marketplace that aims to provide effective and transparent trading of voluntary carbon credits and instruments across Asia and beyond, to connect capital with climate-related products and opportunities. This development was followed by the publication of the Steering Group’s Preliminary Feasibility Assessment of Carbon Market Opportunities for Hong Kong, published in March 2022, which supports Hong Kong to develop a global, high-quality voluntary carbon market and foster cooperation with the Guangdong-Hong Kong-Macao Greater Bay Area and the Mainland. Going forward, the Steering Group will continue to work closely with all stakeholders to take further actions together in developing carbon market for a more sustainable future and mobilize finance for the transition to a low carbon economy.
Keywords: Asia Pacific, Hong Kong, Banking, Sustainable Finance, ESG, Climate Change Risk, Carbon Markets, Low-Carbon Economy, Steering Group, HKMA
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