SFST: Highlighting Hong Kong's Focus on Green Finance and Sustainability Goals at Asia Climate Summit 2026 Opening Ceremony

Speech by SFST at Asia Climate Summit 2026 opening ceremony

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the opening ceremony of the Asia Climate Summit 2026 today (July 8):

Director Cao (Deputy Director of Carbon Trading Division 1 of the Ministry of Ecology and Environment, Mr Cao Yuanshu), Dirk (President and Chief Executive Officer of the International Emissions Trading Association, Mr Dirk Forrister), distinguished guests, ladies and gentlemen,

Good morning. It is a great pleasure and honour of mine to join you today at the opening ceremony of the Asia Climate Summit 2026. I thank the International Emissions Trading Association (IETA) for their outstanding efforts in organising this important event.

This year, for the first time, the Asia Climate Summit is being hosted in Hong Kong—a milestone moment for our city. We are proud to serve as the backdrop for these critical discussions, as we welcome participants from all corners of the globe. With your insights and expertise, I am confident that this Summit will not only identify opportunities but also forge collaborations driving real progress in the years ahead for global green development.

The story of progress has always been one of transformation. Today, as the world faces the defining challenge of our time—climate change—Hong Kong is embracing its role as a leader, innovator, and connector in this era of green transformation. We have taken a long-term, comprehensive approach to sustainability, underpinned by clear and ambitious goals. By 2035, we aim to reduce carbon emissions by 50 per cent, and by 2050, we are committed to becoming carbon neutral. These are bold targets, but they are necessary ones. We frame sustainability not just as a goal, but as the bedrock of Hong Kong's future economic prosperity.

Indeed, Hong Kong's established position as a vibrant, resilient, and highly competitive international financial centre — reinforced by our status as the world's largest cross-border wealth management centre and the premier offshore Renminbi business hub — firmly positions us at the forefront of green finance. Leveraging our deep capital markets, sophisticated regulatory framework, and extensive international connectivity, we are uniquely placed to channel global capital towards sustainable and low-carbon initiatives across Asia and beyond. The tangible results of our efforts are clear: last year, the total volume of green and sustainable debt issued in Hong Kong surpassed US$76 billion. Notably, green and sustainable bonds arranged here amounted to around US$38 billion, ranking first in the Asian market for eight consecutive years since 2018.

Since 2019, we have successfully issued close to US$33 billion equivalent in green bonds under the Government Sustainable Bond Programme. In November last year, we issued the world's first ever digital green bonds integrating tokenised central bank money, settling in both e-CNY and e-HKD. This pioneering transaction underscores our unique ability to bridge traditional finance with green development, and cutting-edge fintech and digital currency innovation.

Hong Kong Exchanges and Clearing Limited (HKEX) continues to advance our carbon market infrastructure through its international marketplace, the Core Climate. Launched in October 2022, it offers HKD and RMB settlement for voluntary carbon credits. As of March this year, Core Climate boasted over 130 registered participants and offers credits from more than 60 projects verified by leading international standards, solidifying its position as a vital platform for regional carbon trading.

Leveraging Hong Kong's strategic location in the Greater Bay Area, HKEX is actively exploring further collaboration with Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange, supporting the development of a robust and vibrant green finance ecosystem across Hong Kong and the Greater Bay Area. Looking ahead, Core Climate holds significant potential to foster the development of an even broader ecosystem for green products with a view to accelerating the adoption of renewable energy solutions particularly in the Greater Bay Area. The Green Electricity Certificates would be the most promising one in the pipeline. Riding on HKEX's listing platform, we see real opportunities to identify and spotlight Hong Kong-listed enterprises actively involved in green and environmentally sustainable activities. By enhancing transparency and accessibility, this will empower investors to confidently identify and channel capital into green opportunities in Hong Kong.

Beyond establishing a vibrant marketplace for carbon credits, transparency and high-quality sustainability disclosure form the essential building blocks of a credible and robust green finance ecosystem. Our Roadmap on Sustainability Disclosure, published in late 2024, sets out a clear, phased pathway for large publicly accountable entities to fully adopt the International Sustainability Standards Board (ISSB) standards by no later than 2028. This forward-looking commitment was globally recognised in June 2025, when the IFRS (International Financial Reporting Standards) Foundation confirmed that Hong Kong is among the first jurisdictions worldwide to target full adoption of these international benchmarks.

Further strengthening this commitment, we are particularly excited to have a strong network of partners working with us in support of the sustainability disclosure ecosystem. The Hong Kong Institute of Certified Public Accountants was recently designated as an official training partner of the IFRS Foundation. This partnership significantly bolsters our local capacity to deliver high-quality sustainability disclosure training, ensuring that Hong Kong's professionals and organisations are well-equipped to meet the highest international standards. Also, the Hong Kong Quality Assurance Agency (HKQAA) is working with us to strengthen engagement with businesses and facilitate digital dynamic disclosure for Hong Kong enterprises, so as to strengthen the city's resilient and future-ready financial ecosystem. We are most excited that the HKQAA will soon make its ESG Disclosure platform available to the wider banking sector in this quarter.

Ladies and gentlemen, the Asia Climate Summit 2026 represents more than just an event—it is an important gathering that shapes the future of carbon markets and green innovation. Hong Kong, as a "super-connector" and "super value-adder", stands ready to bridge opportunities between the Mainland, Asia, and beyond. We are committed to playing an essential role in the global journey towards achieving net-zero emission.

Before I conclude, I want to learn from Director Cao that we may do some advertising. In September, you have your event in Hubei, in fact we also have ours in Hong Kong and that is the Green Week. No competition but welcome to both events at your pleasure.

I wish you all a productive and insightful summit. Together, let us strive for a greener and more sustainable future. Thank you.

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, Photo source: reference image

Online auction of vehicle registration marks to be held from July 23 to 27

The Transport Department (TD) today (July 8) said that the next online auction of vehicle registration marks (VRMs) will be held from noon on July 23 (Thursday) to noon on July 27 (Monday) through the auction platform E-Auction (e-auction.td.gov.hk). Interested bidders can participate in the online auction only after they have successfully registered as E-Auction users.

A spokesman for the TD said, "A total of 220 Ordinary VRMs will be available at this online public auction. The list of VRMs (see Annex) has been uploaded to the E-Auction website. Applicants who have paid a $1,000 deposit to reserve an Ordinary VRM for auction should also register as an E-Auction user in advance in order to participate in the online bidding, including placing the first bid at the opening price of $1,000. Otherwise, the VRMs reserved by them may be bid on by other interested bidders at or above the opening price. Auctions for VRMs with 'HK' or 'XX' as a prefix, special VRMs and personalised VRMs will continue to be carried out through physical auctions by bidding paddles and their announcement arrangements remain unchanged."

Members of the public participating in the online bidding should take note of the following important points:

(1) Bidders should register in advance as an E-Auction user by "iAM Smart+" equipped with the digital signing function; or by using a valid digital certificate and an email address upon completion of identity verification. Registered "iAM Smart" users should provide their Hong Kong identity card number, while non-Hong Kong residents who are not "iAM Smart" users should provide the number of their passport or other identification documents when registering as E-Auction users.

(2) Bidders are required to provide a digital signature to confirm the submission and amount of the bid by using "iAM Smart+" or a valid digital certificate at the time of the first bid of each online bidding session (including setting automatic bids before the auction begins) to comply with the requirements of the Electronic Transactions Ordinance.

(3) If a bid is made in respect of a VRM within the last 10 minutes before the end of the auction, the auction end time for that particular VRM will be automatically extended by another 10 minutes, up to a maximum of 24 hours.

(4) Successful bidders must follow the instructions in the notification email issued by the TD to log in to the E-Auction within 48 hours from the issuance of email and complete the follow-up procedures, including:

• completing the Purchaser Information for the issuance of the Memorandum of Sale of Registration Mark (Memorandum of Sale); and
• making the auction payment online by credit card, Faster Payment System (FPS) or Payment by Phone Service (PPS). Cheque or cash payment is not accepted in the E-Auction.

(5) A VRM can only be assigned to a motor vehicle registered in the name of the purchaser. Relevant information on the Certificate of Incorporation must be provided by the successful bidder in the Purchaser Information of the Memorandum of Sale if the VRM purchased is to be registered under the name of a body corporate.

(6) Successful bidders will receive a notification email around seven working days after payment has been confirmed and can download the Memorandum of Sale from the E-Auction. The purchaser must apply for the VRM to be assigned to a motor vehicle registered in the name of the purchaser within 12 months from the date of issue of the Memorandum of Sale. If the purchaser fails to do so within the 12-month period, in accordance with the statutory provision, the allocation of the VRM will be cancelled and a new allocation will be arranged by the TD without prior notice to the purchaser.

The TD has informed all applicants who have reserved Ordinary VRMs for this round of auction of the E-Auction arrangements in detail by post. Members of the public may refer to the E-Auction website or watch the tutorial videos for more information. Please call the E-Auction hotline (3583 3980) or email (e-auction-enquiry@td.gov.hk) for enquiries.

Source: AI-found images