Hong Kong Monetary Authority releases Phase 2A of "Hong Kong Sustainable Finance Taxonomy"

On January 22, the Hong Kong Monetary Authority (HKMA) released the Phase 2A of the "Hong Kong Green and Sustainable Finance Taxonomy" ("Hong Kong Taxonomy"), taking an important step towards promoting green and sustainable finance and supporting low-carbon transformation in the region. The HKMA has developed the "Hong Kong Taxonomy" in stages to establish a robust and transparent framework to define economic activities that contribute to green and sustainable development. Following the release of the Phase 1 of the "Hong Kong Taxonomy" in May 2024, the HKMA conducted a public consultation on the prototype of the Phase 2A in September 2025, seeking feedback on expanding the scope of the taxonomy and related optimization measures. During the consultation period, the HKMA received feedback from various stakeholders including banks, professional bodies, asset management companies, businesses, non-government organizations, think tanks, and public entities. Respondents generally supported expanding the coverage of the taxonomy, incorporating transition elements and climate adaptation categories, and welcomed the HKMA's efforts to enhance the clarity and utility of the Hong Kong Taxonomy. In response to the feedback collected during the public consultation, the HKMA revised the prototype and officially released the Phase 2A of the "Hong Kong Taxonomy". The HKMA also published a consultation report summarizing the feedback received and the corresponding responses. The HKMA will continue to update the "Hong Kong Taxonomy" and implement the next phase of promotion work, focusing on market development, public policy, industry priorities, and advancements in technology, while actively engaging with market participants and stakeholders throughout the process.