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Companies might be allowed some flexibility when it comes to buying voluntary carbon credits to offset the carbon footprint of their supply chains under an upgraded guidance by UK-based international standard setter VCMI.
Trading volume on HKEX’s Core Climate since its October 2022 debut is less than 1 per cent that of the world’s leading carbon market, as a lack of links with mainland China carbon exchanges stymies progress.
The market for carbon credits needs a wake-up call to boost trust and transparency in claims and benefits linked to green projects, a local green finance association says.
<ul> <li class="spanHeading">Practical Net-Zero Guide for Business (Net-Zero Guide) published to help guide companies in developing a pathway to net zero</li> <li class="spanHeading">Partnership with leading ESG data providers to display HKEX-listed companies ESG metrics</li> </ul>
A proposed mainland-Hong Kong carbon-trading connect program could be an important financial tool to promote the city’s green finance-hub initiative.