Enhanced Competency Framework on Green and Sustainable Finance

Banking Policy Department
Our Ref: B9/166C
28 July 2023
The Chief Executive
All Authorized Institutions
Dear Sir/Madam,
Enhanced Competency Framework on Green and Sustainable Finance I am pleased to announce the launch of the Core Level of the Enhanced Competency Framework on Green and Sustainable Finance (ECF-GSF). The ECF-GSF is a collaborative effort of the HKMA, the Hong Kong Institute of Bankers (HKIB) and the banking industry in establishing a set of common and transparent competency standards required of GSF-related job roles in the banking sector. This framework will facilitate banking practitioners to acquire GSF knowledge and develop professional competencies in the GSF-related area more effectively. Given that GSF is still a new and emerging area at this stage, the HKMA plans to launch the ECF-GSF in two phases: (i) Phase One – Core Level, which will lay a solid foundation on the knowledge and application of GSF; and (ii) Phase Two – Professional Level, which will focus on specialised domain areas covering upcoming market developments and regulatory trends. Details of the Core Level of the ECF-GSF, including its scope of application, competency standards, qualification structure, modular exemption, certification and grandfathering arrangements, as well as continuing professional development (CPD) requirements are set out in the Guide attached to this letter. As the Supervisory Policy Manual module CG-6 “Competence and Ethical Behaviour” emphasises the importance of ensuring continuing competence of staff members, authorized institutions (AIs) are strongly encouraged to adopt the ECF￾GSF as part of their overall staff recruitment and development efforts. The HKMA expects AIs to adopt appropriate measures to monitor and maintain the competence levels of their staff.

• 2 -
  Apart from supporting their staff to attend trainings and examinations that meet the ECF certification, AIs are also advised to keep proper records of the relevant training and qualification of their staff and to provide them with necessary assistance in their applications for grandfathering and certification, and fulfilment of CPD training under the ECF-GSF. The HKIB is the administrator of the ECF-GSF, whose major roles include handling certification and grandfathering applications, providing the training programmes, administering the examinations and CPD requirements, and maintaining a public register of qualified certification holders. AIs may direct any enquiries regarding certification, grandfathering, training and other related matters to the HKIB at 2153 7800. Meanwhile, if there are any enquiries concerning this circular, please feel free to contact Ms Ivy Yong at 2878 8495 or Miss Rita Kong at 2878 8303. Yours faithfully, Daryl Ho Executive Director (Banking Policy) Encl cc: FSTB (Attn: Mr Justin To) HKIB (Attn: Ms Carrie Leung)