Hong Kong Monetary Authority (HKMA) Releases Hong Kong Taxonomy for Sustainable Finance Phase 2A, Previous Proposed Enhancements are 1) Expanded Sector Coverage to Include Manufacturing and Information & Communications Technology, 2) Increase of 13 Economic Activities to Total of 25, 3) Transition Elements Added (Decarbonisation Targets, Transition Support Measures & Sunset Dates and 4) Launched New Environmental Objective (Climate Change Adaptation)
22nd January | Hong Kong
Hong Kong Monetary Authority (HKMA) has released the Hong Kong Taxonomy for Sustainable Finance Phase 2A. In 2025 September, the Hong Kong Monetary Authority (HKMA) launched a public consultation on Phase 2A prototype of the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy), with key enhancements 1) Expanded sector coverage to include manufacturing and information & communications technology, 2) Increase of 13 economic activities to total of 25, 3) Transition elements added (Decarbonisation targets, transition support measures & sunset dates and 4) Launched new environmental objective (Climate change adaptation). HKMA (22/1/26): “The Hong Kong Monetary Authority (HKMA) published today (22 January) the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy) Phase 2A, marking an important step in facilitating green and sustainable capital flows and supporting the region’s transition to a low‑carbon economy. The HKMA has been developing the Hong Kong Taxonomy in phases to provide a robust and transparent framework for classifying economic activities that contribute to green and sustainable development. Following the release of Phase 1 in May 2024, the HKMA launched a public consultation on the Phase 2A prototype in September 2025 to seek views on the expanded taxonomy coverage and relevant enhancements. The HKMA received numerous submissions from a diverse group of stakeholders, including banks, professional associations, asset managers, corporates, non-government organisations, think tank, and the public sector. Respondents generally supported the expansion in taxonomy coverage and the addition of transition elements and climate change adaptation category, and welcomed the further enhancement in clarity and practicality of the Hong Kong Taxonomy by the HKMA. Drawing on the feedback gathered from the public consultation, the HKMA has refined the prototype for publication as the Hong Kong Taxonomy for Sustainable Finance Phase 2A. The HKMA also released a consultation report, which summarises the consultation feedback and the HKMA’s responses. The Hong Kong Taxonomy is a living document. Development of the next phase is underway and will continue to be informed by market developments, government policies, industry priorities, and the latest technological advancements. The HKMA remains committed to actively engaging with market participants and broader stakeholders throughout the development process. The Hong Kong Taxonomy Phase 2A and consultation report are available on the HKMA website.”
“ Hong Kong Monetary Authority (HKMA) Releases Hong Kong Taxonomy for Sustainable Finance Phase 2A, Previous Proposed Enhancements are 1) Expanded Sector Coverage to Include Manufacturing and Information & Communications Technology, 2) Increase of 13 Economic Activities to Total of 25, 3) Transition Elements Added (Decarbonisation Targets, Transition Support Measures & Sunset Dates and 4) Launched New Environmental Objective (Climate Change Adaptation) “
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Hong Kong Monetary Authority (HKMA) Launches Public Consultation on Phase 2A Prototype of the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy), Key Enhancements are 1) Expanded Sector Coverage to Include Manufacturing and Information & Communications Technology, 2) Increase of 13 Economic Activities to Total of 25, 3) Transition Elements Added (Decarbonisation Targets, Transition Support Measures & Sunset Dates and 4) Launched New Environmental Objective (Climate Change Adaptation)
8th September – The Hong Kong Monetary Authority (HKMA) has launched a public consultation on Phase 2A prototype of the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy), with key enhancements 1) Expanded sector coverage to include manufacturing and information & communications technology, 2) Increase of 13 economic activities to total of 25, 3) Transition elements added (Decarbonisation targets, transition support measures & sunset dates and 4) Launched new environmental objective (Climate change adaptation). HKMA (8/9/25): “The Hong Kong Monetary Authority (HKMA) launched a public consultation today (8 September) on Phase 2A prototype of the Hong Kong Taxonomy for Sustainable Finance (Hong Kong Taxonomy). The Hong Kong Taxonomy is an important market enabling tool for promoting informed decision-making in green and sustainable finance. By providing clear, transparent, and robust definitions of what constitutes green and sustainable activities, the taxonomy aims to scale up relevant capital flows while addressing greenwashing concerns. Building on the publication of Phase 1 of the Hong Kong Taxonomy in May 2024, the HKMA has adopted a phased approach to further enhance the taxonomy, starting with Phase 2A, and progressing through subsequent phases. The Phase 2A prototype introduces several enhancements aimed at supporting Hong Kong’s decarbonisation efforts, facilitating the region’s transition to a low-carbon economy, and reinforcing Hong Kong’s position as an international financial centre and a leading green finance hub. The prototype development has been guided by market feedback, government policies, industry needs, and the latest technological advancements. The key enhancements made in the Phase 2A prototype include: 1) Expanded sector coverage: Two new sectors critical to the decarbonisation of the region and beyond, namely manufacturing and information and communications technology, have been added to the four sectors under Phase 1, increasing the total number of sectors from four to six; 2) Increase in economic activities: 13 new economic activities have been added, bringing the total number of economic activities from 12 to 25. Updates have also been made to the technical screening criteria of a number of activities introduced under Phase 1; 3) Transition elements: Transition elements, including interim decarbonisation targets, measures to support transition and sunset dates (which specify the time by which transition elements will conclude), have been added; and 4) New environmental objective: A new environmental objective, namely climate change adaptation, has been introduced to address the growing funding needs for managing physical risks and responding to the increasing frequency of extreme weather events … … The public consultation commences today and will last until 8 October 2025. The consultation paper is available on the HKMA website. Interested parties are invited to submit their comments on or before the deadline.”
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