Xu Zhengyu: Hong Kong can act as a bridge for connecting carbon markets and help Chinese mainland standards for CCER "go international".

Kenneth Kok, Director of the Hong Kong Financial Services and Treasury Bureau, stated that Hong Kong has unique advantages and can serve as a key bridge between the mainland and international markets. In the short term, Hong Kong will participate in discussions with the mainland to establish voluntary carbon credit standards and methods. Subsequently, efforts will be made to attract mainland Chinese investment in overseas emission reduction projects to list and trade in Hong Kong. In the long term, there will be a focus on exploring the connectivity of carbon markets. He mentioned that the mainland's voluntary carbon market CCER is currently undergoing a transition phase and only allows domestic companies to participate, with foreign capital unable to enter. Hong Kong, with its positioning as an international gateway, can assist in the internationalization of CCER standards. Kok also emphasized Hong Kong's strength in international connectivity and will actively support the internationalization of mainland CCER standards. The primary task is to collaborate with mainland regulators and relevant institutions to study how to participate in the international carbon market, including the establishment of voluntary carbon credit standards and methods, and promote the recognition of the entire system internationally. In the future, efforts will be made to attract mainland Chinese institutions' overseas emission reduction projects to list and trade on Hong Kong Stock Exchange's voluntary carbon market. Long-term cooperation with the Greater Bay Area carbon market will be explored to test cross-border trading and settlement pathways, as well as the connectivity of carbon markets. It is emphasized that the essence of carbon markets is different from the stock market - it is not for investment or speculation, but to meet emission reduction needs and achieve carbon neutrality.