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【ESG News】Global Trends Biweekly Newsletter Issue 19 (2024.10.21-2024.11.1)

所屬分類:新聞動態發佈時間:2024-11-04

 

Hong Kong China ESG trends

 

HKMA unveils Sustainable Finance Action Agenda

The Hong Kong Monetary Authority (HKMA) launched the Sustainable Finance Action Agenda (Action Agenda) on 21 October, setting out its vision to further consolidate Hong Kong’s position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond.

The Action Agenda includes eight goals in four areas:

I. Banking for net zero

  1. All banks to strive to achieve net zero in their own operations by 2030 and in their financed emissions by 2050
  2. All banks to enhance transparency on climate-related risks and opportunities

II. Investing in a sustainable future

  1. Achieve net-zero emissions for the Investment Portfolio of the Exchange Fund by 2050
  2. Support transition in the region through investment

III. Financing net zero

  1. Develop Hong Kong into the go-to sustainable financing platform of the region and beyond
  2. Catalyse innovation in sustainable finance

IV. Making sustainability more inclusive

  1. Support high-quality and comprehensive sustainability disclosures
  2. Close talent and knowledge gaps in sustainable finance in the region

Source: Hong Kong Monetary Authority - HKMA unveils Sustainable Finance Action Agenda

 

International ESG trends

 

Sixteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16)

Delegates from almost 200 countries are gathering this week in Cali, Colombia, for the biennial United Nations summit on biodiversity, the first one since the landmark Global Biodiversity Framework was signed in Montreal in December 2022.

At COP 16, governments will be tasked with reviewing the state of implementation of the Kunming-Montreal Global Biodiversity Framework. Parties to the Convention are expected to show the alignment of their National Biodiversity Strategies and Action Plans (NBSAPs) with the Framework. COP 16 will further develop the monitoring framework and advance resource mobilization for the Global Biodiversity Framework. Among other tasks, COP 16 is also due to finalize and operationalize the multilateral mechanism on the fair and equitable sharing of benefits from the use of digital sequence information on genetic resources.

The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16) was suspended in the morning of Nov. 2 but not before countries agreed on an expanded role of Indigenous Peoples and local communities in saving biodiversity and a groundbreaking agreement on the operationalization of a new global mechanism to share benefits from digital genetic information.

Source: https://www.bloomberg.com/news/newsletters/2024-10-20/what-to-expect-at-cop16

https://www.carbonbrief.org/cop16-key-outcomes-agreed-at-the-un-biodiversity-conference-in-cali-colombia/

 

Greenhouse gas concentrations surge again to new record in 2023

Greenhouse gas levels surged to a new record in 2023, committing the planet to rising temperatures for many years to come, according to a report (published on 28 October) from the World Meteorological Organization (WMO).

In the course of 2023, large vegetation fire CO2 emissions and a possible reduction in carbon absorption by forests combined with stubbornly high fossil fuel CO2 emissions from human and industrial activities to drive the increase, according to the WMO’s annual Greenhouse Gas Bulletin.

Carbon dioxide (CO2) is accumulating in the atmosphere faster than any time experienced during human existence, rising by more than 10% in just two decades. 

Source: Greenhouse gas concentrations surge again to new record in 2023

 

Mainland China ESG trends

 

National Unified Electricity Market Development Plan Blue Book will be released before the end of the year

On October 25th, the China Electricity Council released the "National Unified Electricity Market Development Plan Blue Book (Draft for Comments)" (hereafter referred to as the "Blue Book"), proposing a three-step approach to establishing a nationwide unified electricity market

The "Blue Book" was compiled under the coordination of the National Energy Administration, with the participation of more than 20 entities including power grid companies, power generation companies, trading centers, and research institutions. The goal is to clarify the future direction for the construction of a national unified electricity market and to build consensus. The solicitation of opinions will last for 15 days, and the "Blue Book" is expected to be officially released by the end of the year

Source: 全国统一电力市场规划蓝皮书即将发布 _财新网_财新网

 

Sun Jinlong, Secretary of the Party Leadership Group of the Ministry of Ecology and Environment, attends the 19th Eco Expo Asia

From October 29th to November 1st, at the invitation of the Environment and Ecology Bureau of the Hong Kong Special Administrative Region, Sun Jinlong attended the 19th Eco Expo Asia, conducting in-depth research and exchanges on ecological and environmental protection work.

Sun Jinlong pointed out that in recent years, Hong Kong has actively integrated into the national development agenda, vigorously promoted green and low-carbon development, actively participated in national major strategies and initiatives such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative, deepened ecological and environmental exchanges and cooperation with the mainland, and achieved fruitful results and significant effects.

Source: https://www.mee.gov.cn/ywdt/hjywnews/202411/t20241102_1093284.shtml

 

China's Existing Green Bond List Compliant with the China-EU Common Classification Catalogue (October 2024 Edition)

To continuously enhance the role of the China-EU Common Classification Catalogue (hereinafter referred to as the "Common Classification Catalogue") in supporting the development of green financial markets, especially the cross-border flow of green capital, the expert group of the Green Finance Professional Committee of the China Society of Finance has carried out the labeling work for newly issued green bonds in the interbank market in September 2024 according to the Common Classification Catalogue.

A total of 8 green bonds (supporting climate change mitigation activities) were selected in this labeling work, with a total scale of 11.8 billion yuan, among which 5 were certified to be in line with the Common Classification Catalogue at the time of issuance. The corresponding technical standards meet the "substantial contribution" technical definition standards in the Common Classification Catalogue.

 

Source: 符合中欧《共同分类目录》标准的中国存量绿色债券清单(2024年10月版)_中国货币网

 

Sustainable Finance Certification Public and Completed by Lianhe Green

 

上一篇:【ESG News】Global Trends Biweekly Newsletter Issue 20 (2024.11.4-2024.11.17) 下一篇:【ESG News】Global Trends Biweekly Newsletter Issue 17 (2024.9.23-2024.10.4)