SFST invites finalizing of MOU amongst HKEX and a number of carbon exchanges in Greater Bay Area
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The Secretary for Financial Services and the Treasury, Mr Christopher Hui, today (September 23) invited the finalizing of a Memorandum of Understanding (MOU) amongst the Hong Kong Exchanges and Clearing Limited (HKEX), Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange to even more promote understanding exchange and sharing, and enhance partnership in the advancement of carbon markets and the green financing environment in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Mr Hui stated, “We attach great importance to carbon markets in the GBA and actively promote co-operation with them. As the first quadripartite agreement among the carbon exchanges within the GBA, this MOU marks new heights in the orderly and healthy collaborative development of the GBA’s carbon markets. The Chief Executive’s 2025 Policy Address proposed deepening pilot co-operation with the GBA carbon market, jointly building a regional carbon market ecosystem. The signing of the MOU among the HKEX and several GBA carbon exchanges fully demonstrates the determination of the Government and the HKEX in the continuous active promotion of co-operation and joint development with Mainland carbon markets through various means, consolidating Hong Kong’s position as a leading sustainable finance centre in the region.”
Core Climate, the HKEX’s worldwide carbon trading platform, is the only voluntary carbon credit trading platform worldwide using settlement in Hong Kong dollars and Renminbi. In addition to deepening co-operation with the GBA carbon market, the Chief Executive’s 2025 Policy Address likewise revealed that the Government will deal with appropriate Mainland regulative departments and authorities to study problems surrounding the nation’s involvement in the global carbon market. The Government and the HKEX will continue to work carefully with appropriate stakeholders to collectively improve the carbon market community.