所屬分類：新聞動態發佈時間：2025-11-03
Hong Kong ESG trends
New speech by Kelvin Wong: Speech at the HKICPA Best Corporate Governance and ESG Awards 2025 Presentation Luncheon Ceremony
The core content of this speech can be summarized into three aspects: 1. Affirm the value of the Green Finance Certification Scheme (BCGA) and consolidate the foundation of green finance; 2. Clarify regulatory directions and strengthen the standardization of the green finance market; 3. Look forward to future cooperation and promote the cross-border development of green finance.
Source: https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/doc?refNo=25PR180
Lianhe Green Insights
This speech is based on Hong Kong’s positioning as an international green finance center. It not only affirms the role of the existing certification system in market standardization, but also clarifies the direction of “jointly enhancing governance and ESG standards”, providing clear action guidelines for the development of the industry. In particular, it emphasizes the importance of multi-stakeholder collaboration, which directly addresses the current core needs of green finance to prevent “greenwashing” and enhance credibility. As a third-party certification institution, Lianhe Green will strengthen the defense line against “greenwashing”, while connecting standards with practices and building a collaboration bridge to help Hong Kong improve the credibility of its green finance market and facilitate the implementation of ESG standards.
ECO Expo Asia — Gather Green Technologies, Lead the Zero-Carbon Future
Moving toward carbon neutrality is an all-round low-carbon and green transformation process, which must rely on innovative green technologies to replace traditional production technologies. With the theme of “Green Technology Leads the Zero-Carbon Future”, this Expo precisely conveys this core message.
The four-day Expo has attracted approximately 44 delegations, over 200 officials, as well as industry elites, experts and scholars in the environmental protection field, who are from the Chinese mainland, ASEAN and countries participating in the joint construction of the “Belt and Road Initiative”. Government representatives shared experiences in green and innovative technologies through this platform, while enterprises explored business opportunities and exchanged technologies here.
In the government session of the Asian Environmental Protection Conference, senior officials in charge of environmental protection affairs from ten “Belt and Road Initiative” countries (namely the United Arab Emirates, Laos, Vietnam, Cambodia, the Philippines, Bangladesh, Kazakhstan, Myanmar, Sri Lanka and Tajikistan) attended and introduced their countries’ latest policies on environmental protection, ecological conservation and climate change response.
Source: https://www.eeb.gov.hk/sc/see_blog/blog20251102.html
Lianhe Green Insights
ECO Expo Asia holds the dual value of being both a “display platform” and a “cooperation link”. It not only gathers global environmental protection technologies and solutions to provide local enterprises with tools for green transformation, but also builds a bridge for Hong Kong to connect with international environmental protection resources.
Focusing on practicality and innovation, the Expo can not only promote the implementation of environmental protection industry technologies and help Hong Kong achieve its carbon reduction goals, but also strengthen its role as a regional green cooperation hub. Meanwhile, it popularizes environmental protection concepts to the public, pools multi-stakeholder efforts for Hong Kong’s green ecological development, and serves as a practical vehicle for implementing the “dual carbon” goals.
International ESG trends
ICMA Releases New Paper: Unpacking Carbon Market Opportunities for Sustainable Finance and the Wider Market
31 October 2025 ICMA’s new paper takes a clear-eyed look at how both compliance and voluntary carbon markets function today, the integrity challenges shaping their development, and where the real opportunities lie for market participants.
The paper traces the rapid expansion of compliance markets, now covering more than a quarter of global emissions, and explores how these mechanisms could influence capital market activity, particularly in trading, hedging, and structured finance. It also clarifies the more limited, but potentially complementary, role of voluntary carbon markets in transition strategies and in innovative sustainable bond issuance.
Source: https://www.icmagroup.org/News/news-in-brief/icma-publishes-a-new-paper-on-understanding-the-opportunity-from-carbon-markets-for-sustainable-finance-and-the-wider-market-2/
Lianhe Green Insights
The new carbon market report released by ICMA this time accurately addresses the pain points in the integration of carbon markets and sustainable finance, providing key cognitive references for the industry. This initiative can not only promote financial institutions and enterprises to participate in carbon trading more scientifically and help the global implementation of "dual carbon" goals, but also strengthen the standardization and vitality of the sustainable finance market, and provide important practical guidance for international carbon finance cooperation.
Officially published: Simplifications for the Carbon Border Adjustment Mechanism (CBAM)
20 October 2025, the amended Regulation as regards simplifying and strengthening the CBAM has been published in the Official Journal of the European Union. This marks the final step in the formal adoption process, signed by the European Parliament and the Council. It is a key move towards fostering a more competitive and sustainable business environment while effectively addressing climate change. Introduced as part of the “Omnibus I” legislative initiatives, the simplification measures are designed to enhance CBAM’s effectiveness in preventing carbon leakage while minimising the impact on small importers and exporters.
Key element of the package is a new exemption threshold of 50 tonnes for CBAM goods. Companies importing less than 50 tonnes of goods subject to CBAM annually will be exempt from CBAM obligations. This measure is expected to exempt approximately 182,000 importers, mostly SMEs and individuals, while still covering over 99% of emissions in scope. For those importers that remain in the CBAM scope, the adjustments will facilitate compliance with the reporting requirements and simplify the authorisation of declarants, the calculation of emissions, and compliance with the financial liability. The changes will reduce the regulatory and administrative burdens and compliance costs, particularly benefiting SMEs. In addition, as from 2027, the Commission may also, for third countries where carbon pricing rules are in place, determine and make available, in the CBAM registry, the default carbon prices for those third countries and publish the methodology for their calculation.
Source: https://taxation-customs.ec.europa.eu/news/officially-published-simplifications-carbon-border-adjustment-mechanism-cbam-2025-10-20_en
Lianhe Green Insights
The plan simplifies processes such as declaration authorization and emission accounting, and intends to release the default carbon price for third countries in 2027 to improve the offset mechanism. This measure not only strengthens the effect of preventing carbon leakage and accurately reduces enterprises’ compliance costs, but also defines a new benchmark for the low-carbon transformation of global supply chains.
Mainland China ESG trends
Three Ministries (MEE, NBS, NEA) Issue “Announcement on 2024 Power Carbon Footprint Factor Data Release”
To implement the relevant requirements of the Implementation Plan for Establishing a Carbon Footprint Management System, the Ministry of Ecology and Environment, the National Bureau of Statistics, and the National Energy Administration have organized the China Electricity Council and other entities to calculate the 2024 carbon footprint factors for coal-fired power generation, gas-fired power generation, hydropower generation, nuclear power generation, wind power generation, photovoltaic power generation, solar thermal power generation, and biomass power generation, as well as the carbon footprint factor for power transmission and distribution and the national average power carbon footprint factor (see Appendix). These factors are provided for various industries to use in accounting for the carbon footprint generated from power production and consumption.
The calculation methods and data sources of the aforementioned factors are consistent with those of the 2023 power carbon footprint factors specified in the Announcement on the Release of 2023 Power Carbon Footprint Factor Data (No. 3, 2025).
Source: https://www.mee.gov.cn/xxgk2018/xxgk/xxgk01/202510/t20251024_1130734.html
Lianhe Green Insights
The national average power carbon footprint factor in 2024 was 0.5777 kg CO₂ equivalent per kilowatt-hour, a 6.9% decrease compared with the 2023 national average power carbon footprint factor of 0.6205 kg CO₂ equivalent per kilowatt-hour. There are two main reasons for the decrease: 1. The power source structure has been continuously optimized, with the power generation of clean energy such as wind power, solar energy and hydropower growing rapidly in 2024; 2. The power factor for indirect emissions has been updated, and the updated 2023 factor has been uniformly used in the calculation, which has generally reduced the factors of various power generation types. This downward trend reflects the achievements of the clean and low-carbon transformation of China's power industry, as well as the positive progress in the optimization of power source structure and technological advancement.
The Proposal of the Central Committee of the Communist Party of China on Formulating the 15th Five-Year Plan for National Economic and Social Development
On October 28, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China released the “Proposal of the Central Committee of the Communist Party of China on Formulating the 15th Five-Year Plan for National Economic and Social Development”, which made a special chapter arrangement for “accelerating the comprehensive green transformation of economic and social development and building a beautiful China”, pointing out the direction for ecological civilization construction.
The “Proposal” clearly states the need to accelerate the construction of a new energy system. It is necessary to continuously increase the proportion of new energy supply, promote the safe, reliable and orderly replacement of fossil energy, focus on building a new power system, and build an energy - powerful country. Adhere to the combined development of multiple energy sources such as wind, solar, hydro and nuclear, coordinate local consumption and outward transmission, and promote the high - quality development of clean energy. Strengthen the clean and efficient utilization of fossil energy, promote the transformation and upgrading of coal - fired power and the substitution of scattered coal. Comprehensively improve the complementary, interconnected, safe and resilient level of the power system, scientifically plan pumped - storage hydroelectricity, vigorously develop new energy storage, and accelerate the construction of smart grids and micro - grids. Improve the electrification level of terminal energy consumption and promote the green and low - carbon transformation of energy consumption. Accelerate the improvement of the market and price mechanism suitable for the new energy system.
The “Proposal” puts forward the need to actively and steadily promote and achieve carbon peak. Implement a dual - control system for total carbon emissions and intensity. Deeply implement energy - saving and carbon - reduction transformations. Promote the peaking of coal and oil consumption. Improve the carbon emission statistical accounting system, and steadily implement policy systems such as local carbon assessment, industry - wide carbon control, enterprise - level carbon management, project - level carbon evaluation, and product - level carbon footprint. Develop distributed energy, and build zero - carbon factories and parks. Expand the coverage of the national carbon emissions trading market, and accelerate the construction of a voluntary greenhouse gas emission reduction trading market. Establish and improve a green and low - carbon standard system, and promote and lead the improvement, connection and mutual recognition of international rules and standards. Improve the work system for adapting to climate change, and enhance the ability to respond to climate change, especially extreme weather.
Source: https://www.mee.gov.cn/ywdt/szyw/202510/t20251028_1130924.shtml
Lianhe Green Insights
The 15th Five-Year Plan Proposal systematically arranges the green transformation, with the core lying in building a new energy system and improving the carbon management system. The Plan proposes to advance the transformation of the energy structure through the coordinated development of multiple energy sources and the construction of a new power system. Meanwhile, it aims to establish a carbon management system and a carbon market mechanism covering local governments, enterprises, projects and products. This demonstrates China’s systematic path to promote carbon peaking and will exert a profound impact on industrial development and the global climate governance pattern.
Ministry of Ecology and Environment Releases “China’s Policies and Actions on Addressing Climate Change (2025 Annual Report)”
To fully reflect China’s policies, actions and work progress in addressing climate change, and to inform domestic and international communities of China’s achievements in actively tackling climate change, the Ministry of Ecology and Environment has compiled China’s Policies and Actions on Addressing Climate Change (2025 Annual Report) (hereinafter referred to as the “Annual Report”), which was officially released at the regular press conference of the Ministry of Ecology and Environment on October 29, 2025.
The Annual Report provides a comprehensive overview of China’s climate change - related policies, measures and key work achievements since 2024, sorts out China’s new arrangements and new goals for addressing climate change, and showcases China’s progress in areas such as climate change mitigation and adaptation, the development of the national carbon market, product carbon footprint management, policy systems and support guarantees, as well as active participation in global climate governance. It also elaborates on China’s basic positions and propositions regarding the 30th Conference of the Parties to the United Nations Framework Convention on Climate Change.
Source: https://www.mee.gov.cn/ywgz/ydqhbh/wsqtkz/202510/t20251029_1130962.shtml?sessionid=
Lianhe Green Insights
This report systematically presents China’s practical actions and achievements in addressing climate change. Covering areas from energy transition and carbon market development to international cooperation, it not only demonstrates solid progress in domestic green and low-carbon transformation, but also reflects a proactive stance in participating in global climate governance.
ICMA China Sustainable Finance Conference Held in Shanghai
On October 30, as one of the key financial conferences of the year, the China Sustainable Finance Development Forum hosted by the International Capital Market Association (ICMA) was held in Shanghai. The forum gathered leading figures and authoritative experts from the domestic and international sustainable finance markets, who conducted forward-looking dialogues and thematic discussions around topics such as green transformation, sustainable bonds, and alignment of information disclosure with international standards.
The forum brought together leading figures and authoritative experts from the domestic and international sustainable finance markets, and featured a series of forward-looking thematic dialogues and seminars. ICMA shared the latest sustainable bond guidelines released at its Annual General Meeting in June 2025, including important outcomes such as the Practical Guidelines for the Issuance of Nature-themed Sustainable Development Bonds.
Source: https://finance.sina.com.cn/stock/wbstock/2025-10-31/doc-infvutkt4065917.shtml
ICMA China Sustainable Finance Conference 2025 » ICMA
Lianhe Green Insights
This forum has built an efficient dialogue platform for the global sustainable finance sector. Bryan Pascoe, Chief Executive Officer of ICMA, recognized China’s leading role in green bond innovation and collaboration on the "Common Ground Taxonomy", while pointing out that transition finance needs to strengthen global standard coordination and regional path adaptation. Lianhe Green, as a third-party certification institution in Hong Kong’s green finance field, also participated in this forum. It has injected more practical momentum into aligning China’s sustainable finance practices with international standards and further improved the global transition finance collaboration ecosystem.
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