Regulatory Alerts2024-10-21
Added · Updated
Sustainable Finance Action Agenda
The Hong Kong Monetary Authority launched the Sustainable Finance Action Agenda to consolidate Hong Kong's position as a regional sustainable finance hub. The agenda mandates that all banks strive for net zero in their operations by 2030 and financed emissions by 2050, while requiring transition plans on a comply-or-explain basis from 2030. Additionally, the regulator aims to enhance climate-related disclosure transparency and close talent gaps through new training modules and supervisory policy updates.
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