SFST's opening remarks at 2026 HKGFA | GBA-GFA Annual Forum
Following are the opening remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the 2026 Hong Kong Green Finance Association (HKGFA) and Greater Bay Area Green Finance Alliance (GBA-GFA) Annual Forum "Bridging Divides: Asia's Leadership in Transition and Resilience" today (September 7):
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, Photo source: reference image
Dr Ma (Chairman and President of the HKGFA, Dr Ma Jun), distinguished guests, ladies and gentlemen,
Good morning. It is a great privilege of mine to join you this morning at the 2026 HKGFA Annual Forum. I thank Dr Ma and the HKGFA for convening this important gathering and for your tireless work in advancing green finance across Hong Kong, the Greater Bay Area (GBA), and beyond.
This year's theme, "Bridging Divides: Asia's Leadership in Transition and Resilience", captures the defining challenge of our time. As we confront a world marked by fragmentation and uncertainty, we must bridge not just the gap between ambition and action, but also the divides between markets, between developed and developing economies, and between the needs of today and the imperatives of tomorrow.
Asia stands at the forefront of this transition. The region's economic dynamism underscores the importance of building resilience, making it not an abstract goal but a pressing priority. At the same time, Asia's rapid growth demands an unprecedented scale of infrastructure investment. And here we have today Dr Kim (Chief Partnerships Officer, Asian Infrastructure Investment Bank (AIIB), Mr Hun Kim) from AIIB who has the mission of the Bank in terms of driving cross-sectoral partnerships, and we are happy to have him here in Hong Kong. The question is not whether to invest, but how to ensure this investment aligns with a low-carbon, climate-resilient development path. This is where Asia's leadership must emerge - not by copying models from elsewhere, but by shaping our own solutions, tailored to Asia's diverse economies and developmental stages.
Hong Kong is uniquely positioned to facilitate this leadership. We are not merely a financial centre; but the "super connector" that links the Mainland's productivity and manufacturing strengths with international capital and expertise. Last year, the total green and sustainable debt issued in Hong Kong exceeded US$76 billion, with green and sustainable bonds arranged in Hong Kong amounting to about US$38 billion, accounting for approximately 40 per cent of the Asian market. This reflects very much the confidence that global investors place in our platform. Within the Greater Bay Area, our collaboration with Shenzhen, Guangzhou, and Macao is deepening. Through the HKEX (Hong Kong Exchanges and Clearing Limited)'s Core Climate platform, we are building a vibrant carbon market ecosystem with our GBA partners, with over 130 registered participants and projects verified by Verra and Gold Standard. In particular, Core Climate is working closely with its GBA partners to expand its suite of environmental products, including the inclusion of green electricity certificates on the Core Climate platform.
Beyond the GBA, Hong Kong's connectivity extends naturally to the Belt and Road regions. Many Belt and Road economies require substantial financing for green development and climate resilience. As a global financial hub, Hong Kong has been at the forefront of facilitating green investment and sustainable infrastructure development across participating economies, leveraging our deep capital markets and professional expertise to structure bankable projects and de-risk investments.
The Green Accelerator, which we will launch later this morning, represents the next phase of this bridging function. Endorsed in this year's Budget and developed with Mainland and international multilateral financial institutions, this initiative is designed to transform green technologies into investable, scalable projects in emerging markets and developing economies. By providing systematic pre-finance support and project structuring, it addresses a critical bottleneck: the shortage of investment-ready green projects. This initiative will channel private capital towards climate solutions where it is most needed, while creating new opportunities for Hong Kong's professional services. I very much look forward to joining Dr Ma and the other founders to mark this milestone.
To support this agenda, we are also building a credible and transparent framework that inspires investor confidence. The Hong Kong Sustainability Disclosure Standards, fully aligned with the ISSB (International Sustainability Standards Board) framework, took effect on August 1 last year. Our Roadmap on Sustainability Disclosure (Roadmap on Sustainability Disclosure in Hong Kong: Ambition Assurance Enablement) provides a clear pathway for large publicly accountable entities to adopt these standards no later than 2028. We are thrilled to strengthen Hong Kong's sustainability disclosure ecosystem through strong partnerships. The Hong Kong Institute of Certified Public Accountants is now recognised as an IFRS (International Financial Reporting Standards) Foundation training partner, which enhances our capacity to provide world-class disclosure training. Meanwhile, the Hong Kong Quality Assurance Agency has recently expanded its ESG (environmental, social and governance) Connect Program to enhance the quality and credibility of sustainability-related data, reinforcing Hong Kong's future-ready financial ecosystem.
We are also strengthening the tools that underpin transition finance. The Hong Kong Taxonomy for Sustainable Finance provides a common reference point for identifying green and transition activities. This reduces uncertainty, addresses greenwashing concerns, and facilitates more informed capital allocation. Building on this foundation, prototype of Phase 2B of the Taxonomy, featuring expanded activity coverage and further refinements, will be launched soon during Green Week. Together with our expanded Green and Sustainable Finance Grant Scheme, which now covers transition bonds and loans, we are creating a comprehensive ecosystem that supports credible decarbonisation across sectors.
The transition to a low-carbon future is not a destination to be reached by a single route. Different countries or stakeholders are going through diverse journeys, with different starting points and also different challenges. Hong Kong's commitment is to be a facilitator, a connector, and a partner in the process. We will continue to deepen our collaboration with the Mainland, the GBA, and the international community, mobilising capital, sharing expertise, and building resilience.
Before I close, with a bit of divergence from my part, as highlighted by Dr Ma just now, next Wednesday will be the time when the Chief Executive announces both documents, which are the first-ever Five-Year Plan for Hong Kong and the Policy Address. Dr Ma mentioned that he doesn't know the details and actually he shouldn't be in the know. That said, do watch out for the details about green finance and at the same time financial services at large next Wednesday. I look forward to comments and advice from all of you having read those documens.
Last but not least, I wish you all a productive and insightful forum. I hope today's discussions will generate new ideas, stronger partnerships, and fresh momentum for Asia's green and sustainable transition. I also wish you a successful Green Week ahead, filled with meaningful exchanges and impactful actions that drive us closer to our shared sustainability goals.
Thank you.
2026 HKGFA | GBA-GFA Annual Forum, Photo source: hkgreenfinance.org
