Hong Kong Exchanges and Clearing Limited (HKEX) announced on January 27 the signing of a memorandum of understanding with the Brazilian Stock Exchange (B3). The two parties will collaborate to promote the development of carbon markets in Hong Kong and Brazil, explore opportunities in commodities, and establish regular communication channels to strengthen cooperation.

According to the memorandum, HKEX and B3 will also explore the possibility of cross-listing securities on their respective markets, while seeking new opportunities for carbon and ESG products in Asia and South America.

HKEX's Chief Sustainability Officer, James Kwan, stated that this partnership further expands the development of the Core Climate platform in the carbon market, fully demonstrating HKEX's commitment to advancing sustainable finance globally. He said, "We look forward to working closely with B3 to jointly promote the development of international carbon emission standards, encourage innovation, and through cross-border cooperation, bring substantive progress to the market's transition towards a low-carbon economy."

Sérgio Gullo, Director of International Business Development (Asia and Oceania) at B3, noted that the collaboration with HKEX not only reinforces B3's influence in promoting sustainable economic transformation but also opens up new opportunities for the Brazilian market on the international stage. Expanding its international business footprint will enhance Brazil's influence in the global sustainable finance market and assist companies in investing in various ESG products.

HKEX stated that by strengthening cooperation with B3 and continuing to advance sustainable finance initiatives, it further solidifies its role as a market connector, promoting cross-border innovation and collaboration to build a more resilient and inclusive financial ecosystem.