HKEX Commits to Carbon Neutrality by 2024 and Net Zero by 2040

Hong Kong Exchanges and Clearing Limited (HKEX) has announced the company’s commitment to achieving both carbon neutrality and net zero.

Reflecting the Group’s long-standing convictions, and commitments to advancing the sustainable development of global markets and the broader communities in which the Group operates, HKEX is pleased to confirm its plans to achieve Group carbon neutrality by 2024, and net zero by 2040.

To align with the Paris Agreement goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels, HKEX commits to the continual reduction of its scope 1, 2, and 31 greenhouse gas emissions, and to neutralise its residual emissions by 2040.

HKEX intends to submit its science-based emission reduction targets to the Science Based Targets Initiative (SBTi) for validation in 2024.

Underpinned by its overarching 2040 net-zero goal, HKEX is committed to decarbonising its operations by improving energy efficiency, using electricity from renewable sources, and exercising low-carbon procurements where possible. HKEX will also continue to work with its business partners throughout its value chain to support them in setting science-based targets for their decarbonisation journey.

HKEX also confirmed its commitment to achieving carbon neutrality by 2024, as part of its efforts to accelerate climate action and contribute to the goal of achieving societal net zero. This will include measures to expand the Group’s carbon offsetting policy, to cover all remaining emissions (where material) through the purchase of high-quality certified carbon credits.

HKEX Chief Executive Officer, Nicolas Aguzin, said: “As a regulator, market operator and a company, HKEX is uniquely positioned to support businesses and investors around the world in their low-carbon transition journey. We are actively taking steps to create a vibrant ecosystem that supports companies in becoming more climate resilient and sustainable and have a range of products and tools that can help them achieve their goals — from Core Climate, our carbon trading platform, to green bonds trading on our markets, to the ESG Academy that we run for listed issuers.”

The London Metal Exchange, part of the HKEX Group,  has also committed to achieving net zero emissions by 2040, and intends to submit its science-based emission reduction targets to the SBTi for validation in 2024.