CGT Research Series Phase 3: Operationalizing IPSF Common Ground Taxonomy in the Greater Bay Area

Year Published

2023

Contributing Organizations

Hong Kong Green Finance Association (HKGFA)

Type of Resource

Research/Insights Report

Languages

English

Relevant Topics

Core Topic

Taxonomies

Topic 2

Climate Policy & Policy Engagement

Topic 3

Transition Finance

Target Audience

All

Relevant Geography

Asia & the Pacific

Resource Description

This Phase 3 CGT Research Series report examines how to operationalize the IPSF Common Ground Taxonomy (CGT) in the Greater Bay Area. It recommends expanding Hong Kong’s green taxonomy, defining transition activities, and aligning with global practices.

Why This Matters

Operationalizing CGT in Hong Kong and the GBA can attract global capital, support sector transitions, and improve cross-border taxonomy alignment.

Key Insights

Adds 21 new green activities across energy, transport, construction, and agriculture
Suggests criteria for transition finance in steel, cement, and chemicals using energy and carbon market approaches
Recommends integrating “Do No Significant Harm” and social safeguards for a just transition
Proposes phased adoption from pilot use to mandatory disclosure, supported by incentives
Stresses linking green tech and finance, capacity building, and regular reviews for usability

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