Hong Kong Monetary Authority (HKMA) has published Phase 2A of the Hong Kong Taxonomy for Sustainable Finance, marking a further step in supporting green and sustainable capital flows and the region’s transition to a low-carbon economy.
The taxonomy is being developed in phases to provide a transparent framework for classifying economic activities that contribute to green and sustainable development. Following the release of Phase 1 in May 2024, the HKMA launched a public consultation on the Phase 2A prototype in September 2025, seeking feedback on expanded sector coverage and proposed enhancements.
According to the HKMA, responses were received from a wide range of stakeholders, including banks, asset managers, corporates, professional associations, non-government organisations, think tanks and public sector bodies. Submissions broadly supported the wider taxonomy coverage, the inclusion of transition elements and a climate change adaptation category, and welcomed improvements aimed at increasing clarity and practical application.
Taking account of the consultation feedback, the HKMA refined the prototype and published it as the Hong Kong Taxonomy for Sustainable Finance Phase 2A. A consultation report has also been released, setting out stakeholder views and the authority’s responses.
The HKMA said the taxonomy will remain a living document, with work on the next phase already underway. Future development will continue to reflect market developments, government policies, industry priorities and technological progress, alongside ongoing engagement with market participants and other stakeholders.
