Hong Kong, 2 October 2025 — The Hong Kong Special Administrative Region has issued HK$240 billion (US$31 billion) in sovereign green bonds since 2019, making it one of Asia’s largest government-led green financing platforms. According to the newly released Green Bond Report 2025, proceeds have been allocated to 116 projects spanning wastewater treatment, hospital expansions, low-carbon buildings, transport, and climate adaptation infrastructure.
The Government Sustainable Bond Programme (GSBP), overseen by the Financial Secretary and implemented with the support of the Hong Kong Monetary Authority, has become central to the city’s climate strategy. Projects financed include the Cheung Sha Wan trunk sewage rehabilitation, the North District Hospital expansion with renewable-powered facilities, and a supercomputer for the Hong Kong Observatory to improve extreme weather forecasting.
The report highlights Hong Kong’s alignment with China’s “dual carbon” goals — peaking emissions before 2030 and achieving neutrality by 2060 — while committing to its own 2050 net-zero pathway. To reinforce this ambition, the government has raised its borrowing ceiling for sustainable bonds to HK$500 billion (US$64 billion), ensuring long-term funding for climate mitigation and adaptation.
Hong Kong has also pioneered innovative financing structures, including Asia’s longest-tenor US dollar green bond (30 years), the world’s largest retail green bond issuance, and the first government-issued tokenised green bond. The June 2025 issuance raised HK$21 billion (US$2.7 billion) across multiple currencies, with demand up to 12 times oversubscribed.
Beyond issuance, complementary policies such as the Green and Sustainable Finance Grant Scheme, the Hong Kong Taxonomy for Sustainable Finance, and the phased adoption of ISSB-aligned disclosure standards are strengthening the city’s role as a global hub for green and transition finance.
“Hong Kong is accelerating innovative financial development and building a cross-sector ecosystem by leveraging its strengths in sustainable finance,” said Christopher Hui, Secretary for Financial Services and the Treasury.
With one of the most ambitious sovereign sustainable finance agendas worldwide, Hong Kong’s programme is seen as a benchmark for mobilising global capital into low-carbon transition and infrastructure resilience across Asia.
Sources: esgnews.com, news.gov.hk, info.gov.hk, Hong Kong Green Bond Report 2025 (PDF).
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