HKMA publishes expanded Hong Kong Taxonomy for Sustainable Finance Phase 2A
The Hong Kong Monetary Authority (HKMA) published Phase 2A of the Hong Kong Taxonomy for Sustainable Finance on January 22. The expanded framework aims to facilitate green and sustainable capital flows, supporting the region's transition to a low-carbon economy.
Phase 2A builds on market feedback
The HKMA has developed the Hong Kong Taxonomy in phases, building on Phase 1 released in May 2024. A public consultation for the Phase 2A prototype was launched in September 2025, gathering extensive feedback from diverse stakeholders including banks, asset managers, and professional associations.
Respondents broadly supported the expanded coverage, which incorporates new transition elements and a dedicated climate change adaptation category.
They also welcomed the HKMA's further enhancements to the taxonomy's clarity and practicality, reinforcing its role as a robust and transparent framework for classifying economic activities that contribute to green and sustainable development.
A living document, continuously evolving
Drawing on the comprehensive feedback from the public consultation, the HKMA refined the prototype for its official publication as Phase 2A.
Alongside the taxonomy, a consultation report was released, summarizing the feedback received and the HKMA's detailed responses.
The Hong Kong Taxonomy is envisioned as a living document, with the development of its next phase already underway.
This ongoing evolution will be guided by market developments, government policies, industry priorities, and technological advancements, underscoring the HKMA's commitment to continuous stakeholder engagement.