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Moody’s ESG Solutions provides SPO on the Government of the Hong Kong Special Administrative Region of the People’s Republic of China’s updated Green Bond Framework

Moody’s ESG Solutions[1] has provided a Second Party Opinion (SPO) on the Government of the Hong Kong Special Administrative Region of the People’s Republic of China’s (“HKSAR Government”) updated Green Bond Framework. The Framework has been developed to (re)finance Eligible Projects in Eligible Categories including renewable energy, energy efficiency and conservation, pollution prevention and control, waste management and resource recovery, water and wastewater management, nature conservation / biodiversity, clean transportation, green buildings, and climate change adaptation.

We assigned an SPO on the sustainability credentials and management of the updated Green Bond Framework. Moody’s ESG Solutions considers that this Framework is aligned with the four core components of the Green Bond Principles (2021). We express a ‘Robust’ assurance on the contribution of these bonds to sustainability. All Eligible Projects fall under the green categories and are considered to potentially have a positive environmental impact. In addition, Moody’s ESG Solutions considers the overall process for identifying and managing the environmental risks associated with the Eligible Projects to be ‘advanced’.

About Moody’s ESG Solutions

Moody’s ESG Solutions Group is a business unit of Moody’s Corporation serving the growing global demand for ESG and climate insights. The group leverages Moody’s data and expertise across ESG, climate risk, and sustainable finance, and aligns with Moody’s Investors Service and Moody’s Analytics to deliver a comprehensive, integrated suite of ESG and climate risk solutions including ESG scores, analytics, Sustainability Ratings and Sustainable Finance Reviewer/certifier services.

For more information visit Moody’s ESG hub at

[1] This SPO was originally conducted by Vigeo Eiris Hong Kong Ltd, a licensed corporation licensed by the Securities and Futures Commission pursuant to the Securities and Futures Ordinance (the “SFO”) which is now part of Moody’s ESG Solutions. This report is intended for distribution only to “professional investors” as defined in Part 1 of Schedule 1 of the SFO.  This document must not be acted or relied on by persons who are not professional investors.


Lisa Stanton
MD-Global Sales Lead/ESG
+1 (415) 874-6000

Media inquiries

Tim Whatmough
+33 (153) 303-385

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