HKMA launches consultation on green taxonomy

Regulator could use proposal to assess progress of banks towards climate goals

Climate friendly approach

Hong Kong’s financial regulator has launched a consultation on producing a taxonomy that will provide an agreed basis for banks and investment funds to define whether or not their assets contribute to climate change.

“The consultation is to demonstrate core elements and key features of a prototype,” Willy Mak, a senior manager at the banking policy department of the Hong Kong Monetary Authority told a panel discussion hosted by Risk.net on May 30. “We will reach out to the market to gather

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