Hong Kong Exchanges and Clearing Limited (HKEX) announced today the official launch of the Sustainable and Green Exchange (STAGE). According to HKEX, STAGE is the first multi-asset sustainable investment product platform in Asia, aimed at supporting fast-growing global demand for sustainable finance.
Wilfred Yiu, HKEX’s Head of Markets, said:
“The opportunities in sustainable finance in Asia are growing rapidly. There is a need for information about sustainable products and ESG data, and we hope that STAGE will help meet that demand. STAGE will connect market participants, issuers and investors, providing a one-stop shop for reliable green data and products, helping to drive growth potential, transparency and access to Asia’s exciting green and sustainable financial market.”
The STAGE platform contains an online product repository, which at launch features 29 HKEX-listed sustainable-themed products including sustainability, green, and transition bonds from leading corporate issuers across a variety of sectors ranging from utilities, transportation, property development and financial services, as well as ESG-related exchange traded products. According to HKEX, the scope of the product repository will increase over time across asset classes and industries, both in Hong Kong and beyond.
According to HKEX, the benefits of STAGE include providing investors with more information and improved transparency regarding sustainable investing products, and to provide data for benchmarking for issuers seeking to raise funds for sustainable projects. In order for issuers to be listed on the new platform, they are required to provide additional voluntary disclosures on their sustainable investment products, such as use of proceeds reports, as well as annual post issuance reports.
Grace Hui, HKEX’s Head of Green and Sustainable Finance, said:
“HKEX is at the forefront of driving the sustainable finance agenda in the region. With the launch of STAGE, we are seeking to support the growth of Asia’s sustainable finance market by increasing awareness, accessibility, data availability, and transparency of green and sustainable investment products. Ultimately, we aim to guide future capital flows to support our society’s transition towards sustainability. We are actively encouraging all regional issuers of green and sustainable products to consider application for inclusion on STAGE, in turn helping to build Asian financial markets’ own sustainability.”