Referring to the op-ed by Stephen Orlins “ How Biden’s America and China can turn page on a rocky relationship ” (January 14), we agree with the author that the Biden administration could reverse some of former US president Donald Trump’s policies on education, diplomacy and trade to improve US-China relations. We believe the new US president should also focus his climate policies on green finance and collaborate with China to set new rules for the global banking industry to manage the risks of climate change. As an international financial centre, Hong Kong can facilitate such Sino-US collaboration on greening the global banking industry. With carbon dioxide levels reaching a new record, 2020 joined 2016 in becoming hottest year ever recorded. Climate crises have increased financial shocks and system vulnerabilities, threatening the profitability and wealth of global businesses, especially those with assets in coastal regions . Under the Paris climate agreement, the Central Banks and Supervisors Network for Greening the Financial System (NGFS) was established to share best practices and improve climate risk management in the financial sector. With US President Joe Biden having started the process of the country rejoining the Paris climate accord, the US Federal Reserve will soon participate in NGFS’ discussion of the climate risks facing the banking industry. Although some NGFS members, such as Britain, will soon require large corporations to disclose climate-related financial risks, the US Fed will need to learn from its counterparts to make up for its lack of the relevant institutional knowledge. Biden’s efforts on climate risk management could meet resistance from the US banking industry but are likely to win the support of the US House of Representatives and the US Senate, both controlled by the Democrats . As a member of the NGFS, the Hong Kong Monetary Authority participates in the network’s working groups to explore how to factor climate risks into the supervisory framework. The authority has adopted a three-phased approach to promoting green and sustainable banking – developing a “greenness baseline” assessment framework for individual banks (phase one), setting tangible deliverables for promoting the green and sustainable development of the banking industry (phase two), and implementing, monitoring and evaluating banks’ progress regarding such deliverables (phase three). We urge the US Fed under the Biden administration to work closely with the Hong Kong Monetary Authority to strengthen collaboration between the US and China in establishing a new green order for the global financial sector. Cheng Ding and Yichun Wang, Kowloon Tong