Yuen links bank transition plans to climate-resilient finance
Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), said finalized transition planning guidelines will help banks manage climate risks. At the One Earth Summit, he linked common standards, disclosures and technology to sustainable finance.
Standards for mitigation and adaptation
The Hong Kong Taxonomy for Sustainable Finance Phase 2B prototype covers 39 mitigation activities and 28 adaptation measures, including battery manufacturing and recycling and low-carbon technologies.
Asia accounts for over 60 percent of global greenhouse gas emissions, nearly 60 percent of clean technology investment, roughly 80 percent of solar module supply and 65 percent of battery supply.
Adaptation standards cover flooding, storm damage and shoreline protection.
Hong Kong faced 14 tropical cyclones and five Black Rainstorm Warnings in 2025.
The HKMA has finalized bank transition planning guidelines, is developing banking disclosure requirements and provides a cloud platform to assess clients' asset vulnerabilities and adaptation needs.
Bonds connect capital and technology
Hong Kong has led Asia in arranging international green and sustainable bonds for eight consecutive years.
Since 2019, the Government Sustainable Bond Programme has issued nearly HK$280 billion in green bonds for over 110 government projects.
Hong Kong Green Week 2026 drew more than 14,500 participants across 60 events, with One Earth Alliance supporting its closing Green Fintech Symposium.
Yuen said September's Digital Green Bonds issuance was the world's largest digital bond issuance.
Symposium tools included carbon trading, automated verification and AI risk models.
Capital needs exceed current flows
Yuen put mitigation financing needs at three to four times current global flows.
Adaptation in developing countries requires 12 to 14 times current international public finance flows.
His agenda connects standards and risk information with capital mobilization rather than treating bond issuance alone as sufficient.
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