HKEX chairwoman Laura Cha vows tighter ESG data disclosure standards, easier access to capital for green tech firms to boost China’s carbon neutrality goal

Cha told the 2023 Bund Summit in Shanghai that Hong Kong will ensure that its climate disclosure rules are in line with the highest global standards

She also said the city’s exchange is pushing for more innovative means to expand financing channels for green technology companies

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Hong Kong Exchanges and Clearing chairwoman Laura Cha Shih May-lung speaks at the Bund Summit in Shanghai on September 23, 2023. Photo: Handout

Published: 7:04pm, 23 Sep 2023Updated: 4:45am, 24 Sep 2023

The Hong Kong Exchanges and Clearing (HKEX) will keep raising its standards for climate-related information disclosure, while providing easier access to capital for quality green tech firms as part of efforts to reinforce China’s carbon neutrality goal, according to chairwoman Laura Cha Shih May-lung.

“Our goal is to enable [global] investors and the whole financial market to access complete [climate-related] information with ease,” Cha said on Saturday in her speech before the 2023 Bund Summit in Shanghai. “We will make sure that our [information disclosure] rules are in line with the highest international standards.”

She added that the exchange is also pushing for more innovative means to expand financing channels for green technology companies, without elaborating on this plan.

“Hong Kong and the HKEX are able to make our contributions to the country’s carbon neutrality push in financing green tech firms, connecting domestic [companies], overseas firms and funds to participate in low-carbon transition, as well as spurring green tech innovations and sustainable development,” she said.

The three-day Bund Summit, which concludes on Sunday, brings together senior policymakers, financial executives and academics around the world to shed light on the country’s economic status and prospects amid worries about US-China decoupling. The annual event is run by the China Finance 40 Forum, a non-governmental organisation.

Cha’s remarks underscore efforts proposed by Beijing to fully engage with Hong Kong, which plays a major role in offshore yuan trading, settlements and creating a risk management ecosystem, to allocate financial resources and help in the country’s economic growth.