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ARTICLE · 08 JUNE 2023

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Green Taxonomy Prototype For Hong Kong

Mayer Brown
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On 30 May 2023, the Hong Kong Monetary Authority (HKMA) released a discussion paper titled "Prototype of a Green Classification Framework for Hong Kong" seeking feedback...

GlobalGovernment, Public Sector
Wei Na Sim
Wei Na Sim
Mark Uhrynuk
Mark Uhrynuk
Joey C.Y. Lee
Joey C.Y. Lee
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On 30 May 2023, the Hong Kong Monetary Authority (HKMA) released a discussion paper titled "Prototype of a Green Classification Framework for Hong Kong" seeking feedback on developing and adopting a green taxonomy for Hong Kong. In an effort to support Hong Kong's role in linking green financial flows between Mainland China and the rest of the world, HKMA aims to develop a green taxonomy which facilitates interoperability with other major taxonomies such as the Common Ground Taxonomy (CGT), and the taxonomies of Mainland China and the European Union (EU).

Developing the interoperability feature of the proposed Hong Kong taxonomy is key as the CGT is not a single taxonomy and certain of the criteria in the Mainland China and EU taxonomies are only usable within their respective jurisdictions. Accordingly, the challenge has been to formulate a set of economic-activity criteria which match the ambition of those criteria outlined in the CGT and the Mainland China and

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