Hong Kong's banking regulator may require banks to provide more information on climate-related financing as it reviews how lenders use the city's sustainable finance taxonomy, Bloomberg reported Monday, citing Executive Director of Banking Policy Donald Chen.
The Hong Kong Monetary Authority plans to survey banks next year on their use of the taxonomy, the reported quoted Chen as saying. The findings will help determine whether the framework should be incorporated into the HKMA's supervisory practices.
The regulator recently proposed expanding the taxonomy to cover more green and transition activities, including projects aimed at protecting against flooding and other climate risks, Bloomberg noted.
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