Hong Kong Exchange & China Beijing Green Exchange Form Partnership to Build ESG Ecosystem, Promote Green & Sustainable Finance, Contribute to Green Development of Belt & Road Initiative
29th November 2023 | Hong Kong
The Hong Kong Exchange (HKEX) & China Beijing Green Exchange (CBGEX) have formed a partnership with the signing of a Memorandum of Understanding (MOU) to build an ESG Ecosystem, promote Green & Sustainable Finance, and contribute to the Green Development of Belt & Road Initiative (ESG ~ Environmental, Social & Governance). HKEX: “Under the agreement, HKEX and CBGEX will work together to explore cross-border sustainable development, in particular addressing the demand generated from China’s increased focus on green infrastructure investments and its shift to a low-carbon economy. The two exchanges will also conduct research related to green and transition finance, collaborate on capabilities building for ESG standards and information disclosure, as well as explore opportunities in the carbon market.” More info below:
“ Hong Kong Exchange & China Beijing Green Exchange Form Partnership to Build ESG Ecosystem, Promote Green & Sustainable Finance, Contribute to Green Development of Belt & Road Initiative “
HKEX Head of Emerging Business & FIC, Glenda So: “We are delighted to be signing an MOU with CBGEX, one of China’s leading carbon marketplaces, as we leverage the resources and market development experience of both exchanges. This partnership, coupled with other recent initiatives such as HKEX’s own commitment to carbon neutrality and net zero, highlights our ongoing commitment to combating climate change, fostering a sustainable global investment ecosystem and driving the transition to a low-carbon economy. We look forward to working together to explore regional and international market opportunities that will support a more resilient planet, driving positive change and delivering sustainable growth for the region and beyond.”
Hong Kong Exchange & China Beijing Green Exchange Form Partnership to Build ESG Ecosystem, Promote Green & Sustainable Finance, Contribute to Green Development of Belt & Road Initiative
28th November 2023 – Hong Kong Exchanges and Clearing Limited (HKEX) is today (Tuesday) pleased to announce that it has signed a Memorandum of Understanding (MOU) with the China Beijing Green Exchange (CBGEX) to explore cooperation in a number of areas, including building an ESG ecosystem, promoting green and sustainable finance and contributing to the green development of the Belt and Road Initiative (BRI).
- Under the agreement, HKEX and CBGEX will work together to explore cross-border sustainable development, in particular addressing the demand generated from China’s increased focus on green infrastructure investments and its shift to a low-carbon economy. The two exchanges will also conduct research related to green and transition finance, collaborate on capabilities building for ESG standards and information disclosure, as well as explore opportunities in the carbon market.
- A signing ceremony for the MOU was held today at the HKEX Connect Hall. Beijing Mayor Yin Yong, and Hong Kong Secretary for Financial Services and the Treasury, Christopher Hui, were among the distinguished guests who witnessed the signing.
As a regulator, market operator, and company, HKEX has been actively working to create a vibrant ecosystem that supports companies in becoming more climate resilient and sustainable. HKEX provides a range of products and tools to help companies achieve their goals, including Core Climate, a carbon trading platform, green bonds trading on its markets, and the ESG Academy for listed issuers. Earlier this year, HKEX published a consultation paper suggesting the mandatory inclusion of climate-related disclosures in ESG reports for all issuers, in order to promote the ESG and sustainability commitments of listed companies.
Founded in 2008, CBGEX is the designated trading platform for the Emissions Trading Scheme (ETS) under the Beijing Municipal Government. As the designated operator and management entity of the Chinese national GHGs voluntary emission reduction trading system, CBGEX provides centralised trading and settlement services for the Chinese Certified Emission Reductions (CCER) scheme.
About HKEX
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 Metal 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 the 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.
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