所屬分類：新聞動態發佈時間：2025-10-20
Hong Kong ESG trends
Carbon markets pact signed
On 23 September, Secretary for Financial Services & the Treasury Christopher Hui today welcomed the signing of a Memorandum of Understanding (MoU) among Hong Kong Exchanges & Clearing (HKEX), the Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange.
The Policy Address pledges to step up pilot cooperation with the Greater Bay Area (GBA) carbon market and jointly build a regional carbon-market ecosystem. The signing of MOUs today between HKEX and several GBA carbon exchanges vividly demonstrates the Government’s and HKEX’s resolve to advance collaboration with the mainland carbon market through multiple channels, reinforcing Hong Kong’s position as the leading sustainable-finance hub in the region.
Source: https://www.news.gov.hk/eng/2025/09/20250923/20250923_193938_385.html?type=ticker
Lianhe Green Insights
The signing of the pact marks a transition from shared strategic vision to institutionalized cooperation. Enterprises should actively explore opportunities in the carbon and green-finance markets and strengthen the expertise of their staff. Lianhe Green will continue to uphold its philosophy of professionalism, independence and impartiality, drawing on international standards and local experience to help companies build carbon-asset systems that are credible, comparable and verifiable, enabling them to navigate the carbon market with confidence and contribute specialist strength to the goals of a greener China and a climate-safe world.
International ESG trends
A New Global Initiative: Uniting the Building Value Chain for the Cement and Concrete Net-Zero Mission
1 October, the Global Cement and Concrete Association (GCCA) has launched a new initiative and category of membership – Net Zero Value Chain Partners (NZVCP) – to support and help deliver the industry’s net zero mission. With a membership that extends beyond cement and concrete manufacturers alone, the NZVCP initiative is for organisations in the wider building value chain, such as equipment suppliers, admixture companies, industrial infrastructure partners for carbon capture, utilization and storage, and other solutions providers, to share expertise, innovation and ideas, and key engagement to help decarbonise the industry.
Source: https://gccassociation.org/news/new-global-initiative-to-rally-building-value-chain-for-cement-and-concrete-net-zero-mission/
Lianhe Green Insights
Cement and concrete are indispensable to housing and infrastructure construction, yet they also rank among the “hard-to-abate” sectors. Decarbonizing this industry is therefore pivotal to wider sustainable development. High-energy-intensive branches such as steel, cement and chemicals should, in line with the transition pathways published by their trade associations, set corporate transition targets and action plans without delay, jointly accelerating the shift toward a sustainable future.
TNFD Status Report Released: Nature-Related Issues Gain Unprecedented Market Momentum
Two years on from the September 2023 launch of the TNFD recommendations, the Taskforce on Nature-related Financial Disclosures used New York Climate Week to release its 2025 Status Report. Key findings:
l 620 organisations across more than 50 countries and US$20 trillion in assets under management have publicly committed to start nature-related reporting in line with the TNFD.
l Evidence of more than 500 first- and second-generation TNFD reports has already been published.
l 64% of companies and financial institutions surveyed say nature-related issues are as, or more, important to their future business outlook as climate-related issues.
l 78% of firms that have submitted reports have integrated the presentation of their climate and nature disclosures.
l A June survey of responsible investors shows 77% want to see concrete nature-related standards built on the TNFD.
Source: TNFD 2025 Status Report – TNFD
Lianhe Green Insights
The report signals that global capital markets are moving from a “carbon-only” world to a dual-pillar regime of “carbon + nature.” Nature-related disclosure is now replicating the TCFD playbook and will shift into mandatory, price-integrated and productized phases during 2026–2028. Market players that position early in “nature-positive” assets and data tools will secure a first-mover advantage.
Mainland China ESG trends
President Xi Jinping Delivers Video Remarks at the U.N. Climate Summit
President Xi announced China’s new NDCs. China will, by 2035, reduce economy-wide net greenhouse gas emissions by 7% to 10% from peak levels, striving to do better; increase the share of non-fossil fuels in total energy consumption to over 30%; expand the installed capacity of wind and solar power to over six times the 2020 levels, striving to bring the total to 3,600 gigawatts; scale up the total forest stock volume to over 24 billion cubic meters; make new energy vehicles the mainstream in the sales of new vehicles; expand the National Carbon Emissions Trading Market to cover major high-emission sectors; and basically establish a climate adaptive society.
These targets represent China’s best efforts based on the requirements of the Paris Agreement. Meeting these targets requires both painstaking efforts by China itself and a supportive and open international environment. China has the resolve and confidence to deliver on its commitments.
Source: https://www.mfa.gov.cn/eng/xw/zyxw/202509/t20250925_11716513.html
Lianhe Green Insights
The 2035 NDC target, building on the dual-carbon goals, provides greater granularity and boosts international confidence in climate governance. It also highlights the growing, critical role of carbon-credit mechanisms in underpinning economy-wide emission reductions, energy-structure optimization and market-based mitigation pathways.
Green Finance Endorsed Project Catalogue (2025 Edition) Takes Effect on 1 October 2025
To fully implement the guidelines of the 20th National Congress of the Communist Party of China (CPC) and the second and third plenary sessions of the 20th CPC Central Committee, and to act on the requirements made at the Central Financial Work Conference on making significant efforts in green finance, it is essential to give full play to the leading role of green finance, improve the standards system and institutional framework for green finance, and further increase financial support for the comprehensive green transformation of economic and social development as well as the Beautiful China Initiative. In accordance with the Opinions of the CPC Central Committee and the State Council on Accelerating the Comprehensive Green Transformation of Economic and Social Development and the Guidelines of the People’s Bank of China, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Ecology and Environment, the National Financial Regulatory Administration, and the China Securities Regulatory Commission on Financial Supporting for Green and Low-Carbon Development (Yinfa No.70 [2024]), the People’s Bank of China (PBOC), the National Financial Regulatory Administration (NFRA), and the China Securities Regulatory Commission (CSRC) have formulated the Green Finance Endorsed Project Catalogue (2025 Edition) (hereinafter referred to as the Catalogue) based on the Green and Low-Carbon Transition Industry Guidance Catalogue (2024 Edition) and the Green Bond Endorsed Project Catalogue (2021 Edition) (Yinfa No.96 [2021]).
To ensure smooth alignment between the Green Finance Endorsed Project Catalogue (2025 Edition) and the Green Bond Endorsed Projects Catalogue (2021 Edition), the Green Bond Standards Committee—following review and approval at its 3rd meeting of the 2nd Board—has formulated a corresponding work mechanism and filed it with the People’s Bank of China and the China Securities Regulatory Commission.
For more details, please read the link below.
关于绿色债券适用《绿色金融支持项目目录（2025年版）》工作机制的通知
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