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A strategic working task force has been formed by the Hong Kong Dubai Financial Services Authority (DFSA), Hong Kong Monetary Authority, Hong Kong Stock Exchange and Nasdaq Dubai, DFSA chief executive Mark Steward announced.
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Speaking at the HKMA-DFSA Joint Climate Finance Conference, Steward revealed that the task force plans to hold its first meeting in November. He believes that the collaboration will help build and share expertise, while exploring new opportunities to leverage the dynamism of capital markets.
Eddie Yue Wai-man, chief executive of the HKMA, stated that current global standards for green classification frameworks and disclosures vary, impacting business activities. He is confident that the task force's meeting will explore reaching consensus on certain standards.
The task force aims to foster capital market connectivity and promote substantive cooperation in sustainable finance and Islamic finance, including through the use of tokenisation technology to support capital market transaction settlement and cross-border payments.
