Speech by SFST at HKQAA Green and Sustainable Finance Forum 2026 (English only)
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P C (Chief Executive Officer of the HKQAA, Mr P C Chan), distinguished guests, ladies and gentlemen,
A very good morning. It is a pleasure of mine to join the HKQAA Green and Sustainable Finance Forum. I thank HKQAA for bringing us together to explore how Hong Kong's green finance and commodity trading ecosystem can support global sustainable development. Today's discussions connect three important priorities: strengthening markets, building trust and turning investment into meaningful environmental progress.
The National 15th Five-Year Plan emphasises accelerating the green transition and advancing low-carbon development. It also supports Hong Kong in building a commodity trading ecosystem. These priorities provide a clear direction for Hong Kong to contribute our financial expertise, international connectivity and professional services to national development and the global green transition.
As a key "super connector" linking the Mainland with international markets, we bring together Mainland industrial capabilities and green technologies with global capital and expertise. Our green finance market clearly demonstrates Hong Kong's connecting role. Last year, green and sustainable debt issued in Hong Kong exceeded US$76 billion. Green and sustainable bonds arranged here amounted to around US$38 billion, representing approximately 40 per cent of the Asian market. Hong Kong has ranked first in Asia in this business for eight consecutive years.
Our role is not only to connect capital and green projects but to add value by having trusted standards and infrastructure that make those connections meaningful, bankable and investable.
Building on our strengths, we are broadening our green finance market, of which green commodity trading is an important emerging part of this. Hong Kong's First Five-Year Plan proposes developing a commodity trading ecosystem with gold as an entry point. On gold, we are taking forward the development of clearing system, storage, supply and infrastructure related to gold trading to fully leverage the role of gold as a strategic asset, with a view to benchmarking other major international gold trading centres in the long run while developing hardware and software simultaneously.
Measures are already taking shape. These include expanding gold storage targeting a capacity of over 2 000 tonnes by 2028 and refining capability. We will formally launch Hong Kong's dedicated gold central clearing and settlement system in the first quarter of next year, while promoting physical delivery, investment derivatives and risk management tools. The Hong Kong Monetary Authority is also exploring increasing the Exchange Fund's gold holdings to reinforce our strategic position.
Physical infrastructure, however, is only part of the equation. A credible green commodity market also needs trusted information about how commodities are produced. HKQAA's Green Commodities Registration Scheme to be launched today is a crucial building block within this ecosystem. By introducing a trusted, transparent data registry for green production, it will facilitate the expansion of the physical gold market which is of high-integrity and comparable with global ESG (environmental, social, and governance) standards and green finance demands.
I welcome the launch of this Scheme, and commend HKQAA under the Chairman and PC for helping connect commodity-market development with sustainability. Its expertise in standards, assessment and assurance will help build the trust needed to link greener production with financial opportunities.
Building that trust across our green finance market requires clear standards and comparable information. Green commodity aside, we are also strengthening our wider green finance ecosystem. The Hong Kong Taxonomy for Sustainable Finance now incorporates transition elements, while further expansion has been proposed. Our sustainability disclosure roadmap provides a pathway for large publicly accountable entities to adopt the ISSB Standards (International Financial Reporting Standards - Sustainability Disclosure Standards) fully by 2028. In this regard, I also thank HKQAA for launching in July this year the "Advancing a Sustainability Disclosure Ecosystem in the Financial Industry" initiative, which offers financial institutions a structured, credible and scalable framework for collecting and verifying sustainability data from their clients, investees, and business partners by leveraging the HKQAA's data disclosure and assurance program. Together, these measures support informed investment and greater confidence in sustainability claims.
We are also broadening the range of market tools. Through Core Climate, Hong Kong connects participants with internationally certified carbon credits. Just this month, HKEX (Hong Kong Exchanges and Clearing Limited) completed cross-boundary pilots involving Green Electricity Certificates and the settlement of Shenzhen Emission Allowance transactions, building practical experience in regional green-market connectivity.
The electricity certificate pilot, conducted with partners including HKQAA, brought together 15 corporate entities and generated transactions of around 100 000 certificates. It demonstrates how collaboration can translate policy ambitions into practical channels for companies to meet renewable electricity commitments. HKEX is working with the Guangzhou Power Exchange Centre to develop these channels further.
Another important development is HKEX Green Equity, the voluntary designation programme launched on October 20 this year, just when we had the APEC FMM (Asia-Pacific Economic Cooperation Finance Ministers' Meeting) here in Hong Kong. Through a transparent framework and independent assessment, it helps investors identify companies with significant green business activities. Alongside carbon credits and electricity certificates, this initiative expands the tools available to connect capital with the green economy.
Our ambition extends beyond Hong Kong and the Greater Bay Area. Belt and Road economies need financing, technology and expertise to build cleaner infrastructure and strengthen climate resilience. Hong Kong can help connect these needs with investment, while supporting green enterprises in reaching international markets.
The Green Accelerator, launched by the Hong Kong Green Finance Association in September this year, is a practical example. It provides incubation, acceleration and empowerment services for green technology projects in Belt and Road regions. Through project preparation and structuring, it helps address a critical obstacle: turning promising technologies into investment-ready projects that can attract private capital.
I am also very pleased to see that HKQAA and the Belt and Road Initiative International Green Development Coalition, or BRIGC, are exploring closer collaboration on developing Belt and Road standards that support green development across participating countries. This is a timely exploration, because connecting standards with financing can help promising solutions move from individual projects towards wider adoption across markets.
Our task is to connect policy with markets, innovation with investment, and ambition with credible action. I very much look forward to working with HKQAA and all our partners to build trusted commodity markets, deepen green finance and advance a more sustainable Belt and Road. On that, I wish today's forum every success and also good health to everyone here today.
Thank you.
Ends/Tuesday, October 27, 2026
Issued at HKT 10:20
Issued at HKT 10:20
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