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Green Finance Certification Scheme

Fostering Green Economy in Hong Kong

The 2015 Paris Agreement brought nations together to combat climate change and highlighted the importance of adequate financial resources for the implementation of green policies. Since then, nations have successively promoted green finance development, and over USD 100 billion worth of green bonds were issued in 2017 alone. Keeping pace with the global trend, the Hong Kong SAR Chief Executive's 2017 Policy Address also stated government support for sustainable development, combatting climate change and the development of green finance in Hong Kong.

To meet growing market needs and support green finance development in Hong Kong, Hong Kong Quality Assurance Agency (HKQAA) has taken the lead to develop a Green Finance Certification Scheme to provide third-party conformity assessments for green finance issuers. Through the Scheme, we strive to promote a common understanding of green finance among issuers, investors, the business community and the general public. Our ultimate goal is to facilitate the development of green finance and green industry, thereby paving the way to a greener and more sustainable future.

HKQAA has developed the Scheme with reference to a number of widely recognised international and national standards on green finance, such as:

  • Clean Development Mechanism (CDM) under the United Nations Framework Convention on Climate Change (UNFCCC);
  • Green Bond Principles (GBP) of the International Capital Market Association (ICMA);
  • People’s Bank of China Announcement No. 39 and its Annex, Green Bond Endorsed Project Catalogue;
  • ISO 26000:2010 Guidance on Social Responsibility, among others.

The Scheme evaluates the eligibility of green finance and corresponding projects by assessing the effectiveness of an Environmental Method Statement at pre- and post-issuance stages. The Statement covers the method of achieving the intended positive environmental effects of the specified green financial instrument. Issuers of debt instruments that the proceeds will support green projects for environmental protection may apply for the Scheme. Current eligible debt instruments include bonds and loans. 

Types of Certification

  • Pre-issuance Stage Certificate - an as-at certificate that requires validation on the adequacy of the Statement in delivering positive environmental effects
  • Post-issuance Stage Certificate - requires annual verification on the implementation and effectiveness of the Statement regarding to the proposed positive environmental effects

Benefits of Certification

  • Enhance the credibility and stakeholder confidence on green financial instruments via independent, impartial third-party conformity assessments; 
  • Reach out to potential Green Finance investors with the aid of the Green Finance Certificate and Certification Mark;
  • Demonstrate issuers' effort in promoting environmentally-friendly investment; and
  • Promote common understanding of green finance.

List of Certification

Please click here for the list of certification of the Scheme. 

Terms and Conditions of the Green Finance Certification Scheme

Apply Enquiry Request Quotation Terms & Condition

 

Last Update: 2018-01-18   Disclaimer and Copyright
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