Hong Kong Exchange Launches Hong Kong International Carbon Market Council: Bank of China, ICBC, HSBC, Standard Chartered, BNP Paribas, ANZ, Cathay Pacific, Tencent & More
7th July 2022 | Hong Kong
Hong Kong Exchange (HKEX) has launched the Hong Kong International Carbon Market Council with inaugural members including Bank of China, ICBC, HSBC, Standard Chartered, BNP Paribas, ANZ, Cathay Pacific, Tencent, China Energy Conservation & Environmental Protection Group and China Forestry Group State Power Investment. With leading corporates and financial institutions as inaugural Council members and partners & HKEX, the council will explore carbon opportunities in the region and to develop an international carbon market that leverages Hong Kong’s position as a leading global financial centre, and contributing to the realisation of carbon neutrality goals and the development of the green and sustainable finance ecosystem in Hong Kong, Mainland China and globally. The new Council will gather insights from 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 launch of the Council will lay the foundation for Hong Kong’s growth as a premier carbon hub in Asia and beyond as well as contribute to global efforts towards achieving a low-carbon economy.
“ Hong Kong Exchange Launches Hong Kong International Carbon Market Council “
HKEX Chief Executive Officer, Nicolas Aguzin
HKEX Chief Executive Officer, Nicolas Aguzin: “At HKEX we have an unwavering commitment to the success and prosperity of our community as a whole. This focus on sustainability, as a regulator, market operator and corporate, uniquely places us to be a leader in sustainable finance. I am very pleased today to announce this important collaboration with distinguished and influential Hong Kong, Mainland China and international organisations – together we are committed to advancing the growth of sustainable finance ecosystem in the region and beyond. This is a significant step forward in our collective journey to achieving net zero.
The Hong Kong International Carbon Market Council will play a vital role in supporting our vision to build a leading carbon market, welcoming institutional and corporate participants from China, Asia and around the world. We believe that, over time, more participants sharing the same goal and ambition will join us on this net-zero transition journey, securing the future for the next generation.”
The announcement is the latest in HKEX’s recent carbon-related initiatives. In March, HKEX signed an agreement with Guangzhou-based China Emissions Exchange (CEEX) to explore 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 Service Providers Alliance (NZFSPA), part of its ongoing commitment to the long-term sustainable development of global financial markets.
Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code:388) and one of the world’s leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metals Exchange.
As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.
HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.