The Hong Kong International Carbon Market Council has launched by Hong Kong Exchanges and Clearing with the principal focus of developing an international carbon market that leverages Hong Kong’s position as a financial center.
This move is seen as a timely contribution to carbon neutrality goals and the development of a green and sustainable finance ecosystem in the region.
The said council sets to gather insights from members on the development of an efficient and effective Hong Kong-based international carbon market.
Inaugural members of the council comprise Hong Kong, mainland and international corporates and financial institutions. Among them are Australia and New Zealand Banking in Hong Kong, Bank of China, BNP Paribas Hong Kong, Cathay Pacific Airways, China Energy Conservation and Environmental Protection Group, China Forestry Group Corp, Industrial and Commercial Bank of China, Standard Chartered Bank, State Power Investment Corp, Tencent Holdings, and HSBC (Hongkong and Shanghai Banking Corp).
“The Hong Kong International Carbon Market Council will play a vital role in supporting our vision to build a leading carbon market,” said HKEX chief executive Nicolas Aguzin.
