To meet the Climate Action Plan 2050 published in 2021 which sets out the plan to achieve carbon neutrality before 2050, the HKMA has released Phase 2A of the Hong Kong Taxonomy for Sustainable Finance to provide a systematic framework for defining and classifying environmentally sustainable economic activities. The primary goal is to scale up green and sustainable finance flows, thereby addressing the growing need for targeted financial support in the region and globally to drive the transition to a low-carbon economy.

The latest release, Taxonomy Phase 2A, evolves beyond its initial focus of Climate Mitigation to also include Climate Adaption, covering 6 major industries: Energy, Transportation, Construction, Waste, Manufacturing and Information and Communications Technology.

In this webinar, we have selected 3 of the 6 major industries covered under the Phase 2A release. These industries (Transportation, Construction and Manufacturing) together account for over 80% of the total carbon emission in Hong Kong, and represent the sectors where local financial institutions are most active in.

1. Moving from carbon mitigation to carbon adaptation, what does it mean, and what are the implications for financial institutions
2. The key determinants for Green, Transition and Exclusion activities
3. Business opportunities, from carbon mitigation to carbon adaptation
4. Transition activities and Transition Measures under the Taxonomy
5. Interoperability and the Common Ground Taxonomy

The webinar is intended for banking professionals, asset managers and other financial services professionals who have had exposure to sustainable finance or climate change-related topics in finance.

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