(Policy Address 2025) HK to deepen pilot co-operation with the GBA carbon market

Chief Executive John Lee Ka-chiu has released more policies to promote the development of green and sustainable finance in his policy address delivered on Wednesday.

He said that the government will deepen pilot co-operation with the Greater Bay Area carbon market and test the means of cross-border trade settlement, as well as jointly build a regional carbon market ecosystem.

This came as the Hong Kong Exchanges and Clearing (0388) launched Core Climate, an international carbon trading platform and the world's only voluntary carbon credit trading platform, offering settlement in Hong Kong dollars and yuan.

Working with relevant Mainland regulatory departments and authorities, Hong Kong will also study issues surrounding the country's participation in the international carbon market, including the formulation of voluntary carbon credit standards and methods, as well as the registration, trading, and settlement of carbon emission reduction.