What Changed
- Launch of the HKQAA Green Commodities Registration Scheme on October 27, 2026, creating a data registry for green commodity production.
- Planned launch of Hong Kong's dedicated gold central clearing and settlement system in Q1 2027, with storage targeted to exceed 2,000 tonnes by 2028.
- Implementation roadmap requiring large publicly accountable entities to fully adopt ISSB Sustainability Disclosure Standards by 2028.
On October 27, 2026, the Secretary for Financial Services and the Treasury (SFST) of Hong Kong SAR, Mr Christopher Hui, delivered a speech at the Hong Kong Quality Assurance Agency (HKQAA) Green and Sustainable Finance Forum 2026, outlining strategic initiatives to enhance Hong Kong’s green finance market and commodity trading infrastructure.
Key policy developments and market frameworks highlighted in the address include:
- Launch of the HKQAA Green Commodities Registration Scheme: Officially launched on October 27, 2026, this scheme establishes a transparent data registry for green production. It aims to support a high-integrity physical gold market that meets global environmental, social, and governance (ESG) standards and green finance criteria.
- Development of Gold Market Infrastructure: As part of developing a commodity trading ecosystem with gold as an entry point, Hong Kong plans to formally launch a dedicated gold central clearing and settlement system in the first quarter of 2027. Supporting measures include expanding gold storage targeting a capacity of over 2,000 tonnes by 2028, refining capabilities, promoting physical delivery, investment derivatives, and risk management tools, while the Hong Kong Monetary Authority (HKMA) explores increasing the Exchange Fund's gold holdings.
- Sustainability Disclosures and Carbon Markets: Transition elements have been incorporated into the Hong Kong Taxonomy for Sustainable Finance. Hong Kong’s sustainability disclosure roadmap sets a timeline for large publicly accountable entities to fully adopt the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards (ISSB Standards) by 2028. Additionally, HKEX launched the voluntary HKEX Green Equity programme on October 20, 2026, and recently completed cross-boundary pilots for Shenzhen Emission Allowance transactions and Green Electricity Certificates involving 15 corporate entities and around 100,000 certificates.
- Belt and Road Green Acceleration: The Hong Kong Green Finance Association launched the Green Accelerator in September 2026 to incubate green technology projects in Belt and Road regions, while HKQAA and the Belt and Road Initiative International Green Development Coalition (BRIGC) are exploring collaboration on regional green standards.
These policy frameworks affect financial institutions, publicly accountable entities, gold market participants, carbon market traders, and green tech issuers operating in Hong Kong SAR and cross-border markets.
Who May Be Affected
Financial institutions, listed corporations, commodity market participants, ESG investors, and green technology enterprises connecting through Hong Kong SAR.
Cross-Border Context
Connects Mainland China green technologies, Shenzhen carbon allowances, and regional electricity certificates with international capital markets and Belt and Road infrastructure financing.
What to check next
- Follow up on regulatory operational details for the Q1 2027 gold central clearing and settlement system release.
- Review HKQAA registration guidelines and ESG standards for green commodity data verification.
- Track reporting requirements and timeline milestones under the ISSB Standards 2028 roadmap for large entities.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.