Hong Kong's Financial Services and the Treasury Bureau (FSTB) has disclosed that as of the second quarter of this year, the city saw 179 SFC-authorised ESG funds, with combined assets under management reaching approximately USD 153.7 billion, or roughly HK$1.19 trillion. This significant figure highlights Hong Kong's growing dominance in the sustainable finance sector across the region.

In the green bond market, the total value of green and sustainable debt issued in Hong Kong during 2025 has surpassed USD 76 billion. According to data from the International Capital Market Association, Hong Kong arranged approximately USD 38 billion in Asian international green and sustainable bonds, capturing a 40% market share in the region. This achievement marks the eighth consecutive year that Hong Kong has secured the top position in the Asian market for such issuances.

Earlier this year, in January, the cross-agency Steering Group on Green and Sustainable Finance established a new phase of strategic priorities centred on two key pillars: consolidating Hong Kong's status as a sustainable finance hub and expanding advantages in emerging sectors. In May, the group's Transition Finance Working Group released its first phase of industry practical guidance, using the information and communications technology sector as its initial case study to explore institutional-level financing and investment practices.

Members of the steering group will host a series of events during Hong Kong Green Week in September, with a focus on topics including transition planning and climate resilience. Under the Government Sustainable Bond Programme, as of mid-August, the government has successfully issued green bonds totalling approximately HK$258 billion. In November of last year, digital green bonds worth around HK$10 billion were issued under the programme, covering denominations in HKD, RMB, USD, and EUR. These offerings attracted a wide range of global institutional investors, including those participating in digital bond subscriptions for the first time.

The FSTB launched the Hong Kong Sustainability Disclosure Roadmap in December 2024, targeting full adoption of the ISSB standards by no later than 2028. The Hong Kong Institute of Certified Public Accountants received confirmation from the IFRS Foundation last June that Hong Kong is among the first jurisdictions to fully adopt ISSB standards, and was further appointed as an official ISSB training partner this June. Meanwhile, the Accounting and Financial Reporting Council is conducting a public consultation on a sustainability assurance regulatory framework, with results expected to be published in the second half of this year.

In other initiatives, the government supports discussions with mainland Chinese and international multilateral financial institutions on establishing a green accelerator in Hong Kong. This initiative aims to leverage charitable and donor capital to support green projects under the Belt and Road initiative, with official launch planned for the third quarter. The Green and Sustainable Finance Grant Scheme has been extended until 2027, and as of July this year, it has subsidised more than 710 debt instruments, involving a total debt amount exceeding USD 200 billion.

The Hong Kong Monetary Authority (HKMA) released Phase 2A of the Hong Kong Sustainable Finance Classification in January, expanding coverage to 25 economic activities across six industries. A prototype for Phase 2B is planned for public consultation within this year. On the talent development front, the three-year Green and Sustainable Finance Training Pilot Programme has been extended to 2028. As of August, over 11,400 applications have been approved, with total grant funding surpassing HK$66 million. Additionally, the HKMA will conclude Hong Kong Green Week in September with a green fintech seminar as its flagship closing event.