The Financial Services and the Treasury Bureau welcome Cathay Pacific (00293.HK) to settle 0.05 million tons of voluntary emission reductions through the Carbon Market Core Climate on the Hong Kong Stock Exchange (00388.HK) as one of its voluntary carbon offset initiatives.

The Secretary for Financial Services and the Treasury, Christopher Hui, stated that this Trade demonstrates how Hong Kong's green finance platform can assist businesses in achieving sustainable development goals through robust financial market infrastructure, and it sets a benchmark for future Trades. The 2024 Policy Address by the Chief Executive proposed enhancing the green finance ecosystem and highlighted Hong Kong's position as Asia's leading sustainable finance center, and this Trade aligns with that vision.

He added that the government will continue to support and promote collaboration and synergies between the Hong Kong Stock Exchange and domestic and international peers in order to build a vibrant and trustworthy carbon market. By providing high-quality carbon credit products certified to international standards and facilitating interaction among local, domestic, and overseas carbon market participants, the authorities aim to further strengthen Hong Kong's leadership in enabling green transformation through finance.

Core Climate is currently the only international voluntary carbon credit trading market in the world that offers settlement in both Hong Kong dollars and Renminbi, providing high-quality carbon credit products for enterprises and consolidating Hong Kong’s position as a leading green and sustainable finance hub in the region.