HKMA deputy chief flags Hong Kong taxonomy consultation aimed at SME transition finance
A welcome speech by HKMA Deputy Chief Executive Darryl Chan at a CASI Sustainability Forum sets out three strands of Hong Kong policy aimed at making sustainable finance more accessible to small and medium enterprises. Compliance and sustainable finance teams tracking Hong Kong taxonomy developments or green bond grant schemes should note the consultation timeline referenced here.
- The HKMA opened a public consultation on Phase 2B of the Hong Kong Taxonomy this week, covering transition activities such as iron and steel and adaptation measures such as battery storage and sustainable fuels.
- The HKMA earlier this year expanded its grant scheme that subsidises green and sustainable debt issuances to also cover advisory services for developing sustainable finance frameworks and transition plans.
- A steering group of Hong Kong financial regulators has developed a free online greenhouse gas emissions calculator that lets companies estimate their carbon footprint from energy and water bills, and is adding Southeast Asian emission factors.
- Hong Kong arranged around 40% of Asia's international green and sustainable bonds in 2025, according to the speech.
- SMEs account for roughly two-thirds of employment and nearly 40% of economic output across Asia, the speech cites from the ADB Asia Small and Medium-Sized Enterprise Monitor 2025.