On 18 Feb 2025, the HKMA published the Adoption Practice Guide on Greentech in the Banking Sector to support Authorized Institutions’ net zero transitions through practical Greentech adoption. The guide, aligned with the ‘Fintech 2025’ strategy and FINETech 3 collaboration, provides non-binding insights on leveraging sustainable technology to address climate risks and operational challenges.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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Introduction and Purpose of the Practice Guide
On 18 Feb 2025, the Hong Kong Monetary Authority (HKMA) published the Adoption Practice Guide on Greentech in the Banking Sector, which explores the adoption of Greentech solutions to support Authorized Institutions’ net zero transitions for both internal operations and financed emissions. The guide provides practical insights into leveraging Greentech to mitigate climate-related risks and address real-world operational challenges, aligning with HKMA’s ‘Fintech 2025’ strategy under the ‘All banks go Fintech’ initiative.
Strategic Context and Implementation Guidance
As part of the HKMA’s ongoing FINETech 3 collaboration (‘Beyond Greenfinity’), which engaged over 150 financial and technology entities in November 2024, the guide builds upon prior sectoral efforts to advance sustainable finance. It offers actionable guidance for Authorized Institutions to responsibly integrate Greentech into their operations, emphasizing its role in facilitating climate risk management and net zero pathways, without imposing binding regulatory requirements.
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