Business & Investment

HKEX launches Hong Kong International Carbon Market Council and announces carbon market plan

The Hong Kong Stock Exchange (HKEX) today announced the inauguration of the Hong Kong International Carbon Market Council (Council). HKEX has partnered with many major companies and financial institutions as the first council member to explore carbon opportunities in the region.

The main focus of this collaboration is to leverage Hong Kong’s position as a world-leading financial center to achieve its carbon-neutral goals and to Hong Kong, mainland China, and beyond. The council gathers insights from its members on the development of an efficient and effective Hong Kong-based international carbon market with best-in-class market infrastructure, products and services.

The inauguration of the council will lay the foundation for Hong Kong’s growth as a major carbon hub in Asia and beyond, and will contribute to global efforts to achieve a low carbon economy.

Nicolas Aguzin, Chief Executive Officer of the HKEX, said: This focus on regulatory, market operator and corporate sustainability uniquely positions us as a leader in sustainable finance. We are very pleased to announce this important partnership with prominent and influential Hong Kong, mainland China, and international organizations today. We are working together to drive the growth of a sustainable financial ecosystem both inside and outside the region. This is an important step forward in our collective journey to achieve Net Zero. “

The first members of the council consist of Hong Kong, mainland China, and international companies and financial institutions. These include Australia and New Zealand Bank Group Limited Hong Kong Branch, Bank of China (Hong Kong) Limited, BNP Paribas Hong Kong Branch, Cathay Pacific Airways Limited, China Energy Conservation and Environmental Protection Group, China Forestry Group Corporation, Industry and Commerce. Bank of China (Asia) Limited, Standard Chartered Bank (Hong Kong) Limited, State Power Investment Corporation Limited, Tencent Holdings Limited, The Hongkong and Shanghai Banking Corporation Limited.

“The Hong Kong International Carbon Market Council welcomes participants from institutions and companies from China, Asia and around the world and plays an important role in supporting our vision of building a major carbon market. Over time, we believe that more and more participants who share the same goals and ambitions will take part in this journey to Net Zero and secure the future of the next generation, “says Agjin.

Details of the planned carbon market will be announced at a later date.

This announcement is the latest in HKEX’s recent carbon-related initiative. In March, HKEX signed an agreement with the Guangzhou-based China Emissions Exchange (CEEX) seeking cooperation in tackling climate change and promoting sustainability through carbon finance. Last November, HKEX joined the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Financial Services Provider Alliance (NZFSPA). This is part of our ongoing commitment to long-term sustainable development of global financial markets.

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is a listed company (HKEX Securities Code: 388), one of the world’s leading global exchange groups, with a variety of stocks, derivatives, commodities, bonds and other finance. We provide markets and products. Services including the London Stock Exchange.

As a east-west super connector and gateway, HKEX is a capital between China and the rest of the world through pioneering Connect schemes, an increasingly diversified product ecosystem, and deep, fluid and international markets. Promotes a two-way flow of ideas, ideas and dialogue.

HKEX is a purpose-driven organization that aims to connect, promote and develop the market and communities that support the prosperity of all through its entire business and the activities of the HKEX Foundation.

www.hkexgroup.com

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HKEX launches Hong Kong International Carbon Market Council and announces carbon market plan

https://www.hkex.com.hk/News/News-Release/2022/220705news?sc_lang=en HKEX launches Hong Kong International Carbon Market Council and announces carbon market plan

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