Hong Kong Exchanges and Clearing Limited (HKEX) is today (Wednesday) pleased to announce that it has joined the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Financial Service Providers Alliance (NZFSPA), part of its ongoing commitment to the long-term sustainable development of global financial markets.
HKEX is joining leading financial institutions around the world to accelerate the transition to a net-zero global economy, supporting global efforts to meet the goals of the Paris Agreement on climate change.
As a regulator, market operator, and a corporate, HKEX is uniquely placed to help lead the sustainable finance transition. In joining these important alliances, HKEX seeks to be a key agent for change in contributing to restricting global temperature rises to 1.5°C above pre-industrial levels.
HKEX Chairman, Laura M Cha, said: “Tackling climate change is the most urgent ask of our time. It requires unparalleled levels of regional and global cooperation, across every industry. As a global financial markets leader, we see ourselves as an agent for change. We are therefore today joining this global alliance and making a net zero pledge, and hope that all in our community in Hong Kong, and across global markets do the same. We must protect our planet and our future so that we can ensure the sustainability and prosperity of the next generation.”
HKEX Chief Executive Officer, Nicolas Aguzin, said: “We are resolute in our commitment to doing our part to help build a global climate-resilient economy. Today we join this global coalition as part of our unwavering commitment to sustainability, amplifying HKEX’s existing efforts to drive the transition towards a low-carbon economy. Reinforcing HKEX’s continued efforts in promoting climate-related financial disclosures among listed companies and our work to build a green and sustainable finance ecosystem, we today invite all our partners, customers and stakeholders to help build Hong Kong’s reputation as Asia’s green and sustainable financial centre, by making commitments of their own.”
HKEX is committed to helping investors and issuers embark on their low-carbon transition journey, building a sustainable finance ecosystem. HKEX expects to achieve its net zero target sooner than 2050 and is preparing a detailed action plan.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange (QME), in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.