Hong Kong Treasury Department: As of the first quarter of this year, a total of 190 ESG funds have been approved by the Hong Kong Securities and Futures Commission, with assets under management exceeding one trillion Hong Kong dollars.

The Hong Kong Treasury Bureau announced that as of the first quarter of this year, there were a total of 190 ESG funds approved by the Hong Kong Securities and Futures Commission, with assets under management of approximately $139.1 billion (equivalent to about $108.49 billion Hong Kong dollars). The total amount of green and sustainable bonds issued in Hong Kong by 2025 exceeded $76 billion. According to statistics from the International Capital Market Association, the total amount of Asian international green and sustainable bonds arranged for issuance in Hong Kong is approximately $38 billion, accounting for 40% of the total in the region, and has been ranked first in the Asian market for eight consecutive years since 2018. In addition, the Hong Kong government will continue to work with financial regulatory agencies and the industry to promote green and sustainable finance in Hong Kong, providing infrastructure and impetus to support market development. Specifically, the progress of the latest measures includes: (1) Green and Sustainable Finance Cross-Institutional Supervisory Group: The supervisory group, following its work plan for 2023-2025, established its strategic focus for 2026-2028 in January of this year, focusing on two key areas: first, consolidating and deepening Hong Kong's role as a sustainable finance center; second, expanding Hong Kong's advantages in emerging areas, further cementing its role as a competitive and future-oriented sustainable finance center. The transformation finance working group of the supervisory group, through its industry working groups, recently published the first stage of transformation finance practice guidance in May, using the information and communications technology industry as the first industry example. The report focuses on financing and investment practices at the institutional level, analyzing how financial institutions can support their overall climate transition strategies through conventional corporate finance and provide practical tools for financial institutions and businesses to implement international frameworks and principles related to transformation finance. (2) Hong Kong Government Sustainable Bond Plan: As of mid-May 2026, the Hong Kong government has successfully issued a total of approximately HK$258 billion equivalent of green bonds, providing important benchmarks for potential issuers in Hong Kong and the region. In November 2025, under the "Government Sustainable Bond Plan," the Hong Kong government issued around HK$10 billion equivalent of digital green bonds, covering Hong Kong dollars, renminbi, US dollars, and euros. This issuance attracted a wide range of global institutional investors, including asset management companies, banks, insurance companies, private banks, and other institutions, including investors who subscribed to digital bonds for the first time. (3) Sustainable Disclosure: In December 2024, the Hong Kong Treasury Bureau (Treasury Bureau) launched the "Hong Kong Sustainability Disclosure Roadmap," which requires large public interest entities to fully adopt the International Financial Reporting Sustainability Disclosure Standards (ISSB Standards) by no later than 2028, providing a clear path forward. The Hong Kong Institute of Certified Public Accountants published the "Hong Kong Sustainability Disclosure Standards" in December 2024, fully aligning with the ISSB Standards, and will confirm Hong Kong as one of the jurisdictions aiming to fully adopt the ISSB Standards by June 2025, demonstrating Hong Kong's commitment to enhancing information transparency for sustainable development in the capital markets, enabling investors to make informed investment decisions, and promoting global capital flows. The Financial Reporting Council of Hong Kong conducted public consultations on the proposed local regulatory framework for sustainable assurance from December 2025 to March 2026, with the results expected to be announced in the second half of 2026. The proposed framework aims to promote high-quality assurance through the adoption of international standards; enhance the credibility and reliability of sustainable disclosures, and ensure that all assurance providers operate in a fair competitive environment. The Hong Kong Treasury Bureau will continue to work with financial regulatory agencies and stakeholders to optimize sustainable disclosure support tools and promote the use of technology, such as artificial intelligence, to assist institutions in sustainable disclosure and measures, as well as expand training on sustainable disclosure and assurance, particularly providing support tailored to specific industries. (4) "Green and Sustainable Finance Assistance Program": To encourage more green financing activities in Hong Kong, the government launched the "Green and Sustainable Finance Assistance Program" in May 2021, which supports eligible issuers of green and sustainable bonds, as well as loan borrowers, in their issuance and external review services expenditure. The Assistance Program was extended for three years until 2027 in May 2024 and expanded its scope to include transition bonds and loans to further encourage industries in the region to utilize Hong Kong's transformation financing platform to gradually reduce carbon emissions. As of April this year, the program has supported over 680 issuances of green and sustainable debt instruments in Hong Kong, with the total debt amount exceeding $190 billion. (5) Sustainable Taxonomy: The Hong Kong Monetary Authority released the first phase of the "Hong Kong Sustainable Finance Taxonomy" in May 2024, providing an assessment tool for the industry and enabling market participants to make informed decisions in green and sustainable finance, alleviating concerns about "greenwashing" and directing more funds towards relevant activities. To support the region's low-carbon transition, following a public consultation, the Hong Kong Monetary Authority released the 2A stage of the Hong Kong Taxonomy in January of this year. The main updates in the 2A stage include expanding the industry scope to six sectors, increasing the number of economic activities from 12 to 25, introducing transition elements, and adding climate adaptation as a new environmental objective to address the growing entity climate risks and extreme weather challenges. The Hong Kong Monetary Authority has commenced work on the next phase to expand the coverage of the Hong Kong Taxonomy, including introducing more green and transition activities and enhancing measures related to climate adaptation. The Authority will continue to engage actively with market participants and stakeholders based on market development, public policy, industry priorities, and the latest technological advancements. (6) Bank Transformation Planning: The Hong Kong Monetary Authority completed the first industry consultation on the draft of Unit GS-2 of the "Regulatory Policy Manual" on Transformation Planning in 2025. The draft guidelines outline the requirements for banks to undertake transformation planning, including establishing climate risk governance structures, consulting with customers to understand their transformation plans, etc., to assist banks in addressing the net-zero transition of the economy and managing related risks more effectively. Based on the feedback received, the Authority revised the draft, conducted a second round of industry consultations, and aims to finalize the guidelines within 2026. (7) Green Technology and Financial Innovation: The Hong Kong Treasury Bureau will support discussions with mainland China and international multilateral financial institutions to explore the establishment of a Green Technology Project Accelerator in Hong Kong, to support the incubation, acceleration, and development of green technology projects in the Belt and Road region, providing innovative examples for Hong Kong's green financial services. The Bureau will also study ways to facilitate financial institutions' access to utility consumption-related data with the consent of enterprises to enhance the efficiency of green financing and risk assessment. Building on the success of the past two editions, the Hong Kong Monetary Authority will once again host the "Green Finance Technology Symposium" as the flagship event of Hong Kong Green Week in September this year. The symposium aims to promote collaboration and exchange between the financial and technology sectors, enhance the application of green financial technology, and further consolidate Hong Kong's leading position as a hub for green finance. (8) Talent Training: In December 2022, the government launched a three-year "Green and Sustainable Finance Training Pioneer Program" for eligible local employees, professionals, students studying relevant disciplines, and graduates to apply. Upon completion of eligible training or qualifications, applicants can receive up to $10,000 in funding. The Pioneer Program has been extended until 2028 to continue supporting the training of local green finance talents. As of April this year, there are 117 eligible training courses and qualifications, provided by local universities' professional continuing education colleges, professional institutions, international training institutions, and will be updated continuously. Over 10,400 applications have been approved under the Pioneer Program, with a total funding amount exceeding HK$59 million. Last Thursday, Standard Chartered Bank announced the issuance of the first HK$2 billion green dim sum bond, the first financial institution to publicly issue a green bond denominated in Hong Kong dollars, which was well received in the Hong Kong market, reflecting the bank's ability to raise funds across currencies and regions. This issuance is Standard Chartered's largest green bond offering to date, surpassing the previous record of HK$1.5 billion. The market response was enthusiastic, with a record high peak subscription amount of over HK$3.8 billion, reflecting global market demand for bonds and its unique portfolio of sustainable financial assets. The proceeds from this issuance will primarily be used for renewable energy, green building, and circular economy projects in the Asian region, supporting cleaner electricity supply, more efficient commercial real estate development, and pollution reduction, in line with Standard Chartered's "Sustainable Development Bond Framework."