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Green Bond Framework

As a core component of the Government Green Bond Programme (GGBP), the Green Bond Framework sets out how the Government intends to issue green bonds under the GGBP to fund new financing or the re-financing of green projects that are consistent with its vision to improve the environment, combat climate change and transition to a low carbon economy. The Government first published the Green Bond Framework in March 2019 and updated it in February 2022. The updated Framework reflects Hong Kong’s latest climate commitments and strategy, and aligns with the latest international standards and practices in the green bond market. According to the updated Framework, the proceeds of green bonds can be used to finance or refinance projects under nine “Eligible Categories”, including the newly added “climate change adaptation” category and not limited to public works projects, thereby allowing the Government to fund a wider variety of projects using green bond proceeds to further support Hong Kong’s low-carbon transition.

Green bonds issued under the Framework will be aligned with the Green Bond Principles of the International Capital Market Association or as they may be subsequently amended.

A Second Party Opinion has been obtained for the Framework from Vigeo Eiris, an independent international provider of Environmental, Social and Governance (ESG) research and services.

For each green bond issued under the Framework, the Government will obtain an issuance level (pre-issuance) external review from an independent, qualified third party.

Green Bond Framework (February 2022 version)

<<Click here for the Green Bond Framework (February 2022 version)>>
<<Click here for the Second Party Opinion (February 2022 version)>>

Green Bond Framework (March 2019 version)

<<Click here for the Green Bond Framework (March 2019 version)>>
<<Click here for the Second Party Opinion (April 2019 version)>>