The Green and Sustainable Finance Cross-Agency Steering Group (CASG) has launched a significant update to its website.
Formed in May 2020 and jointly led by the Hong Kong Monetary Authority and the Securities and Futures Commission, the steering group comprises representatives from a broad spectrum of financial and environmental agencies, including the Insurance Authority (IA). Its mission is to streamline the approach to managing climate and environmental risks in the financial sector, boost the development of green and sustainable finance in Hong Kong, and align with the government's climate objectives.
The website changes include a suite of new features designed to establish it as a premier source of information on green and sustainable finance for banks, corporations, and the public.
A key update to the website is the introduction of a digital Sustainability Disclosure e-Portal. This platform transforms the Climate and Environmental Risk Questionnaire, initially crafted for non-listed companies in 2022 in collaboration with CDP, into a digital format. Aimed primarily at assisting SMEs in initiating sustainability reporting, this move simplifies the reporting process and facilitates the exchange of consent-based data between businesses and financial institutions.
Furthermore, the CASG, in collaboration with the Hong Kong University of Science and Technology, has developed innovative tools for the calculation and estimation of greenhouse gas (GHG) emissions. These tools are particularly beneficial for SMEs, allowing them to compute their GHG emissions accurately using real activity data. Financial institutions, on the other hand, are provided with estimation tools to gauge the GHG emissions linked to their portfolios, a critical feature when direct data is not readily available.
The website also consolidates a wealth of sustainability-related information, including data, regulations, news, events, and opportunities for training and internships – all accessible through an enhanced user interface designed for ease of navigation.
The continuous upgrades to the website are part of Hong Kong's efforts to solidify its position as a leading centre for green and sustainable finance on both a regional and global stage.
