HKMA Extends Green and Sustainable Finance Grant Scheme to 2027
(6 May 2024 – Hong Kong) The Hong Kong Monetary Authority (HKMA) has extended the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) for a further three years to 2027.
Launched in May 2021, the GSF Grant Scheme provides subsidies for eligible green and sustainable debt issuance in HK.
The Financial Secretary proposed in the 2024/25 Budget to both extend the scheme another three years while also expanding the scope of subsidies to cover transition bonds and loans. The move is intended to encourage relevant industries in the region to make use of HK’s transition financing platform as they hasten moves for industrial decarbonisation.
“Hong Kong is a leading green finance centre in Asia, intermediating more than one-third of the region’s international green and sustainable bonds in recent years. The GSF Grant Scheme has helped foster the adoption of sustainable finance, enrich the local ecosystem, and promote good market practice” commented HKMA CEO Eddie Yue.
“The extension of the scheme, with an expanded scope to cover transition finance instruments, reaffirms Hong Kong’s commitment to supporting the region’s increasing efforts to tackle climate challenge through transition activities and financing.”
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